Related Party Transaction

12 Months Ended

Jun. 01, 2024

Related Party Transactions [Abstract]

Related Party Transaction

5. RELATED PARTY TRANSACTION

On June 15, 2015, the Company entered into a lease agreement for the IMES facility with LDL, LLC. That lease agreement was extended for five years in fiscal 2021. The Company is entitled to extend the term of the lease for an additional five-year renewal term by notifying the landlord in writing of its intention to do so within six months of the expiration of the term. The Executive Vice President of IMES, Lee A. McIntyre III (former owner of IMES), had an ownership interest in LDL, LLC. Mr. McIntyre departed from the Company in fiscal year 2023, effective as of

September 24, 2022. The lease agreement provides for monthly payments over five years with total future minimum lease payments of $0.2 million. Rental expense related to this lease amounted to $0.2 million for the fiscal year ended June 1, 2024, $0.2 million for the fiscal year ended May 27, 2023 and $0.2 million for the fiscal year ended May 28, 2022.