STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Oct. 31, 2024

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of equity incentive program

A summary of our equity incentive program as of October 31, 2024 is as follows (in thousands):

Common stock shares available for grant	2,824
RSUs outstanding	1,361
RSAs outstanding	86
PSUs outstanding	50

Summary of restricted stock units activities

The following summarizes RSU activities for the six months ended October 31, 2024:

	Number of Restricted Stock Units (in thousands)			Weighted Average Grant Date Fair Value Per Share	Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (in thousands)
Outstanding at April 30, 2024	1,129		$	6.53	1.09	$	8,207
Granted	424			9.38
Released	(192	)		5.91
Forfeited	—			—
Outstanding at October 31, 2024	1,361		$	7.50	0.74	$	11,469

Summary of restricted stock awards activities

The following summarizes RSA activities for the six months ended October 31, 2024:

	Number of Restricted Stock Awards (in thousands)		Weighted Average Grant Date Fair Value Per Share	Weighted Average Remaining Recognition Period (Years)
Outstanding at April 30, 2024	86	$	7.25	1.00
Granted	—		—
Released	—		—
Forfeited	—		—
Outstanding at October 31, 2024	86	$	7.25	0.49

Share-based Payment Arrangement, Outstanding Award, Activity, Excluding Option

The following summarizes PSU activities for the six months ended October 31, 2024:

	Number of Market Condition-Based Performance Stock Units (in thousands)			Weighted Average Grant Date Fair Value Per Share	Weighted Average Remaining Recognition Period (Years)
Outstanding at April 30, 2024	400		$	3.63	0.42
Granted	—			—
Released	(350	)		3.63
Forfeited	—			—
Outstanding at October 31, 2024	50		$	3.63	0.17

Summary of stock-based compensation expenses

	One Month Ended		Three Months Ended				Six Months Ended
	July 31, 2024		October 31, 2024		June 30, 2023		October 31, 2024		June 30, 2023
Stock options	$	—	$	—	$	16	$	—		$	(40	)
RSUs, RSAs and PSUs		863		2,154		744		3,685			1,747
Total	$	863	$	2,154	$	760	$	3,685		$	1,707

Schedule of fair value models for the PSUs use valuation assumptions

		PSU Tranche #1			PSU Tranche #2			PSU Tranche #3
Performance Milestone (VWAP)	$	10.00		$	15.00		$	20.00
Valuation method utilized		Monte Carlo			Monte Carlo			Monte Carlo
Risk-free interest rate		3.53	%		3.53	%		3.53	%
Company volatility		120	%		120	%		120	%
Derived service period		1.0 year			2.0 years			3.0 years
Grant date fair value per award	$	9.74		$	9.62		$	9.46

Barnes & Noble Education, Inc.

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of stock-based compensation equity awards

Barnes & Noble Education grants options, restricted stock awards and restricted stock units under the Barnes & Noble Education Equity Incentive Plan. On June 10, 2024, as part of the business combination, we assumed the following equity awards:

	Shares Assumed
Stock options	25,191
Restricted stock award	4,853
Restricted stock unit	1,518
Total equity awards assumed	31,562