Related Party Transaction

12 Months Ended

May 28, 2022

Related Party Transaction [Abstract]

Related Party Transaction

Note 19 - Related Party Transaction

On August 24, 2020, Mrs. Jean Reed Adams, the wife of the Company’s late founder Fred R. Adams, Jr., and the Fred R. Adams,

Jr. Daughters’ Trust, dated July 20, 2018 (the “Daughters’ Trust”), of which the daughters of Mr. Adams are beneficiaries

(together, the “Selling Stockholders”), completed a registered secondary public offering of

6,900,000

 shares of Common Stock

held by them, pursuant to a previously disclosed Agreement Regarding Common Stock (the “Agreement”) filed as an exhibit to

this report. Mrs. Adams and the Daughters’ Trust advised the Company that they were conducting the offering in order to pay

estate taxes related to the settlement of Mr. Adam’s estate and to obtain liquidity. The public offering was made pursuant to the

Company’s effective shelf registration statement on Form S-3 (File No. 333-227742), including the Prospectus contained therein

dated October 9, 2018, and a related Prospectus Supplement dated August 19, 2020, each of which is on file with the Securities

and Exchange Commission. The public offering involved only the sale of shares of Common Stock that were already outstanding,

and thus the Company did not issue any new shares or raise any additional capital in the offering. The expenses of the offering

(not including the underwriting discount and legal fees and expenses of legal counsel for the Selling Stockholders, which were

paid by the Selling Stockholders) paid by the Company were $

1.1

 million. Pursuant to the Agreement, the Selling Stockholders

reimbursed the Company $

551

 thousand.