Pay vs Performance Disclosure

12 Months Ended

May 31, 2025

USD ($)

$ / shares

May 31, 2024

USD ($)

$ / shares

May 31, 2023

USD ($)

$ / shares

May 31, 2022

USD ($)

$ / shares

May 31, 2021

USD ($)

$ / shares

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

Pay versus performance

The following table sets forth additional compensation information of our Principal Executive Officer (PEO) and our non-PEO NEOs along with total shareholder return, net income, and adjusted diluted earnings per share from continuing operations performance results for our fiscal years ended May 31, 2025, 2024, 2023, 2022 and 2021:

																Value of Initial Fixed $100 Investment Based On:5
	Year1			Summary Compensation Table Total for PEO ($)			Compensation Actually Paid to PEO2, 3 ($)			Average Summary Compensation Table Total for Non-PEO NEOs ($)			Average Compensation Actually Paid to Non-PEO NEOs2, 3 ($)			Company Total Shareholder Return ($)			Peer Group Total Shareholder Return ($)			Net Income ($)			Adjusted Diluted Earnings per Share from Continuing Operations ($)6
	2025			8,146,124			7,451,224			2,133,675			1,943,607			214.91			315.46			12,500,000			3.91
	20244			7,865,450			16,870,229			2,167,868			3,457,905			351.96			243.30			46,300,000			3.33
	2023			6,709,139			10,703,256			1,808,687			2,732,276			248.44			165.54			90,200,000			2.86
	2022			12,327,343			13,416,164			1,793,579			2,238,871			239.07			149.29			78,700,000			2.38
	2021			4,123,426			12,752,734			1,509,276			3,211,723			206.99			162.00			35,800,000			1.31

1
For each year presented above except for 2024, the NEOs included in the compensation columns reflect John M. Holmes as our PEO and Sean M. Gillen, Jessica A. Garascia, Christopher A. Jessup, and Eric Pachapa as our non-PEOs. For 2024, Tracey Patterson was included in place of Eric Pachapa.

2
Fair value or change in fair value, as applicable, of equity awards in the “Actually Paid” columns was determined by reference to (1) for time-based restricted stock awards, closing price on applicable year-end date(s) or, in the case of vesting dates, the actual vesting price, (2) for performance-based restricted stock awards, the estimated payout used to recognize our expense in accordance with FASB ASC Topic 718 except using the closing price on applicable year-end date(s) or, in the case of vesting dates, the actual vesting price, and (3) for stock options, a Black-Scholes fair value as of the applicable year-end or vesting date(s), determined based on the same methodology as used to determine grant date fair value but using the closing stock price on the applicable revaluation date as the current market price and with an expected life equal to the original ratio of expected life relative to the ten year contractual life multiplied times the remaining life as of the applicable revaluation date, and in all cases based on updated volatility, risk free rates, and expected dividend rates determined as of the revaluation dates.

3
For the portion of “Actually Paid” compensation that is based on year-end stock prices, the following prices were used: 2025 - $61.41 (13.5% decrease from prior year), 2024 - $70.99 (41.7% increase from prior year), 2023 – $50.11 (3.9% increase from prior year), 2022 – $48.22 (15.5% increase from prior year), and 2021 – $41.75 (107.0% increase from prior year).

4
2025 compensation “Actually Paid” to PEO and the average Actually Paid to non-PEOs reflects the following adjustments from Total compensation reported in the Summary Compensation Table:

				PEO ($)			Average Non-PEO ($)
	Total Reported in 2025 Summary Compensation Table (SCT)			8,146,124			2,133,675
	Less, value of stock awards and option awards reported in SCT			(5,039,823)			(1,050,307)
	Plus, year-end value of awards granted in fiscal year that are unvested and outstanding			4,500,035			937,814
	Plus, change in fair value of prior year awards that are outstanding and unvested			578,931			99,391
	Plus, change in fair value (from prior year-end) of prior year awards that vested this year			(734,043)			(176,966)
	Total adjustments			(694,900)			(190,068)
	Actual compensation paid for Fiscal Year 2025			7,451,224			1,943,607

5
Each year reflects what the cumulative value of $100 would be, including reinvestment of dividends, if such amount were invested on June 1, 2020. Peer group TSR reflects the Company’s “2025 peer group” as reflected in our 2025 Annual Report on Form 10-K pursuant to Item 201(e) of Regulation S-K and “Fiscal Year 2025 peer group” in this proxy statement. The Fiscal Year 2025 peer group is the same as the Fiscal Year 2024 peer group except that it reflects the removal of Aerojet Rocketdyne Holdings, Inc. and Kaman Corporation and the addition of Air Lease Corporation, V2X, Inc., and VSE Corporation. The new peer group displayed is therefore different from our prior year proxy statement. The old peer group TSR amounts for the years ended May 31, 2025, 2024, 2023, 2022, and 2021 were $315.46, $236.45, $162.52, $145.93, and $158.75, respectively.

6
Adjusted diluted earnings per share from continuing operations, a non-GAAP financial measure, is our GAAP diluted earnings per share from continuing operations adjusted to exclude items of an unusual nature including but not limited to acquisition costs including integration and amortization expenses from recent acquisitions, business divestitures, workforce actions, subsidies and costs, impairment and exit charges, facility consolidation and repositioning costs, FCPA settlement and investigation costs, purchase accounting and legal settlements, strategic project costs, equity investments gains and losses, pension settlements, and significant customer events such as early terminations, contract restructurings, forward loss provisions and bankruptcies. We use this non-GAAP financial measure in our compensation structure as it illustrates our core operating performance unaffected by the impact of certain items that management does not believe are indicative of our ongoing and core operating activities.

Company Selected Measure Name

Adjusted diluted earnings per share from continuing operations

Named Executive Officers, Footnote

1
For each year presented above except for 2024, the NEOs included in the compensation columns reflect John M. Holmes as our PEO and Sean M. Gillen, Jessica A. Garascia, Christopher A. Jessup, and Eric Pachapa as our non-PEOs. For 2024, Tracey Patterson was included in place of Eric Pachapa.

Peer Group Issuers, Footnote

5
Each year reflects what the cumulative value of $100 would be, including reinvestment of dividends, if such amount were invested on June 1, 2020. Peer group TSR reflects the Company’s “2025 peer group” as reflected in our 2025 Annual Report on Form 10-K pursuant to Item 201(e) of Regulation S-K and “Fiscal Year 2025 peer group” in this proxy statement. The Fiscal Year 2025 peer group is the same as the Fiscal Year 2024 peer group except that it reflects the removal of Aerojet Rocketdyne Holdings, Inc. and Kaman Corporation and the addition of Air Lease Corporation, V2X, Inc., and VSE Corporation. The new peer group displayed is therefore different from our prior year proxy statement. The old peer group TSR amounts for the years ended May 31, 2025, 2024, 2023, 2022, and 2021 were $315.46, $236.45, $162.52, $145.93, and $158.75, respectively.

Changed Peer Group, Footnote

5
Each year reflects what the cumulative value of $100 would be, including reinvestment of dividends, if such amount were invested on June 1, 2020. Peer group TSR reflects the Company’s “2025 peer group” as reflected in our 2025 Annual Report on Form 10-K pursuant to Item 201(e) of Regulation S-K and “Fiscal Year 2025 peer group” in this proxy statement. The Fiscal Year 2025 peer group is the same as the Fiscal Year 2024 peer group except that it reflects the removal of Aerojet Rocketdyne Holdings, Inc. and Kaman Corporation and the addition of Air Lease Corporation, V2X, Inc., and VSE Corporation. The new peer group displayed is therefore different from our prior year proxy statement. The old peer group TSR amounts for the years ended May 31, 2025, 2024, 2023, 2022, and 2021 were $315.46, $236.45, $162.52, $145.93, and $158.75, respectively.

PEO Total Compensation Amount

$ 8,146,124

$ 7,865,450

$ 6,709,139

$ 12,327,343

$ 4,123,426

PEO Actually Paid Compensation Amount

$ 7,451,224

16,870,229

10,703,256

13,416,164

12,752,734

Adjustment To PEO Compensation, Footnote

4
2025 compensation “Actually Paid” to PEO and the average Actually Paid to non-PEOs reflects the following adjustments from Total compensation reported in the Summary Compensation Table:

				PEO ($)			Average Non-PEO ($)
	Total Reported in 2025 Summary Compensation Table (SCT)			8,146,124			2,133,675
	Less, value of stock awards and option awards reported in SCT			(5,039,823)			(1,050,307)
	Plus, year-end value of awards granted in fiscal year that are unvested and outstanding			4,500,035			937,814
	Plus, change in fair value of prior year awards that are outstanding and unvested			578,931			99,391
	Plus, change in fair value (from prior year-end) of prior year awards that vested this year			(734,043)			(176,966)
	Total adjustments			(694,900)			(190,068)
	Actual compensation paid for Fiscal Year 2025			7,451,224			1,943,607

Non-PEO NEO Average Total Compensation Amount

$ 2,133,675

2,167,868

1,808,687

1,793,579

1,509,276

Non-PEO NEO Average Compensation Actually Paid Amount

$ 1,943,607

3,457,905

2,732,276

2,238,871

3,211,723

Adjustment to Non-PEO NEO Compensation Footnote

4
2025 compensation “Actually Paid” to PEO and the average Actually Paid to non-PEOs reflects the following adjustments from Total compensation reported in the Summary Compensation Table:

				PEO ($)			Average Non-PEO ($)
	Total Reported in 2025 Summary Compensation Table (SCT)			8,146,124			2,133,675
	Less, value of stock awards and option awards reported in SCT			(5,039,823)			(1,050,307)
	Plus, year-end value of awards granted in fiscal year that are unvested and outstanding			4,500,035			937,814
	Plus, change in fair value of prior year awards that are outstanding and unvested			578,931			99,391
	Plus, change in fair value (from prior year-end) of prior year awards that vested this year			(734,043)			(176,966)
	Total adjustments			(694,900)			(190,068)
	Actual compensation paid for Fiscal Year 2025			7,451,224			1,943,607

Compensation Actually Paid vs. Total Shareholder Return

Compensation actually paid (CAP) and Company total shareholder return (TSR)

The graph below illustrates the relationship between the CAP to our CEO and the other NEOs and the Company’s TSR during the period covered under the “Pay versus performance disclosure” above. The CAP figures shown below are calculated as required by SEC requirements, which include unvested and unpaid amounts. Each year of Company TSR reflects what the cumulative value of $100 would be, including reinvestment of dividends, if such amount were invested on June 1, 2020. As shown in the “Pay versus performance disclosure” above and below in the Company TSR vs. Peer Group TSR graph, the value of $100 invested in the Peer Group on June 1, 2020 would be $162.00 at the end of Fiscal Year 2021, $149.29 at the end of Fiscal Year 2022, $165.54 at the end of Fiscal Year 2023, $243.30 at the end of Fiscal Year 2024, and $315.46 at the end of Fiscal Year 2025.

Compensation Actually Paid vs. Company TSR

Compensation Actually Paid vs. Net Income

Compensation actually paid (CAP) and net income

The graph below illustrates the relationship between the CAP to our CEO and the other NEOs and the Company’s net income during the period covered under the “Pay versus performance disclosure” above. The CAP figures shown below are calculated as required by SEC requirements, which include unvested and unpaid amounts.

Compensation Actually Paid vs. Net Income

Compensation Actually Paid vs. Company Selected Measure

Compensation actually paid (CAP) and adjusted diluted earnings per share from

continuing operations

The graph below illustrates the relationship between the CAP to our CEO and the other NEOs and the Company’s adjusted diluted earnings per share from continuing operations during the period covered under the “Pay versus performance disclosure” above. The CAP figures shown below are calculated as required by SEC requirements, which include unvested and unpaid amounts.

Compensation Actually Paid vs. Adjusted Diluted Earnings per Share from Continuing Operations

Total Shareholder Return Vs Peer Group

Company TSR and peer group TSR

The graph below illustrates the relationship between the Company’s TSR and peer group TSR during the period covered under the “Pay versus performance disclosure” above. The peer group used is the Company’s “2025 peer group” as reflected in our 2025 Annual Report on Form 10-K pursuant to Item 201(e) of Regulation S-K and “Fiscal Year 2025 peer group” in this proxy statement. Each year reflects what the cumulative value of $100 would be, including reinvestment of dividends, if such amount were invested on June 1, 2020.

Company TSR vs. Peer Group TSR

Tabular List, Table

Tabular list

The following performance measures reflect the Company’s most important performance measures used to link compensation actually paid to our NEOs for Fiscal Year 2025 to Company performance, as further described and defined in the CD&A:

	Adjusted diluted earnings per share from continuing operations
	Net working capital turns
	Return on invested capital

Total Shareholder Return Amount

$ 214.91

351.96

248.44

239.07

206.99

Peer Group Total Shareholder Return Amount

315.46

243.3

165.54

149.29

162

Net Income (Loss)

$ 12,500,000

$ 46,300,000

$ 90,200,000

$ 78,700,000

$ 35,800,000

Company Selected Measure Amount | $ / shares

3.91

3.33

2.86

2.38

1.31

PEO Name

John M. Holmes

John M. Holmes

John M. Holmes

John M. Holmes

John M. Holmes

Share Price | $ / shares

$ 61.41

$ 70.99

$ 50.11

$ 48.22

$ 41.75

Increase (Decrease) Percentage of Prior Year Share Price

(13.50%)

41.70%

3.90%

15.50%

107.00%

Prior Year Peer Group Total Shareholder Return Amount

$ 315.46

$ 236.45

$ 162.52

$ 145.93

$ 158.75

Measure:: 1

Pay vs Performance Disclosure

Name

Adjusted diluted earnings per share from continuing operations

Non-GAAP Measure Description

6
Adjusted diluted earnings per share from continuing operations, a non-GAAP financial measure, is our GAAP diluted earnings per share from continuing operations adjusted to exclude items of an unusual nature including but not limited to acquisition costs including integration and amortization expenses from recent acquisitions, business divestitures, workforce actions, subsidies and costs, impairment and exit charges, facility consolidation and repositioning costs, FCPA settlement and investigation costs, purchase accounting and legal settlements, strategic project costs, equity investments gains and losses, pension settlements, and significant customer events such as early terminations, contract restructurings, forward loss provisions and bankruptcies. We use this non-GAAP financial measure in our compensation structure as it illustrates our core operating performance unaffected by the impact of certain items that management does not believe are indicative of our ongoing and core operating activities.

Measure:: 2

Pay vs Performance Disclosure

Name

Net working capital turns

Measure:: 3

Pay vs Performance Disclosure

Name

Return on invested capital

PEO

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (694,900)

PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(5,039,823)

PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

4,500,035

PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

578,931

PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(734,043)

Non-PEO NEO

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(190,068)

Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(1,050,307)

Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

937,814

Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

99,391

Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (176,966)