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Stockholders' Equity
3 Months Ended
Oct. 01, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stockholders' Equity
Stockholders' Equity
Share Repurchase Program
As of October 1, 2016, we had a $275,000 share repurchase program. For the three months ended October 1, 2016 we did not repurchase any shares under this repurchase program. For the three months ended September 26, 2015 we repurchased 86,196 shares in open market transactions totaling $5,882. As of October 1, 2016, we had $94,043 remaining under this program. As a result of the proposed merger with Cintas, we have suspended additional repurchases under the repurchase program.
Share-Based Compensation
Compensation cost for share-based compensation plans is recognized on a straight-line basis over the requisite service period of the award and forfeitures are accounted for as they occur. We grant share-based awards, primarily consisting of restricted stock and options to purchase our common stock. Stock options are granted to employees and directors for a fixed number of shares with an exercise price equal to the fair value of the shares at the date of grant. Share-based compensation is recognized in the Condensed Consolidated Statements of Operations and was $1,855 and $1,941 for the three months ended October 1, 2016 and September 26, 2015. As share-based compensation expense is recognized, a deferred tax asset is recorded that represents an estimate of the future tax deduction from the exercise of stock options or release of restrictions on the restricted stock. At the time share-based awards are exercised or canceled, or they expire or restrictions lapse, we recognize adjustments to income tax expense. No amount of share-based compensation expense was capitalized during the periods presented. The number of options exercised and restricted stock vested since July 2, 2016 was 114,000 shares.