Stock Based Compensation

6 Months Ended

Sep. 10, 2011

Stock Based Compensation

Stock Based Compensation

12. Stock Based Compensation

At September 10, 2011, we had two stock-based compensation plans, the 2008 Long Term Incentive and Share Award Plan and the 2004 Non-Employee Director Compensation Plan. The general terms of each plan are reported in our Fiscal 2010 Annual Report on Form 10-K.

The components of our compensation expense (income) related to stock-based incentive plans were as follows (in thousands):

	For the 12 Weeks Ended				For the 28 Weeks Ended
	Sept. 10, 2011		Sept. 11, 2010		Sept. 10, 2011			Sept. 11, 2010
Stock options	$	566	$	122	$	1,322		$	(246	)
Restricted stock units		452		451		651			(291	)
Common stock granted to Directors		-		187		(464	)		436
Total stock-based compensation expense (income)	$	1,018	$	760	$	1,509		$	(101	)

There were no stock-based grants during the 28 weeks ended September 10, 2011.

Stock options

As of September 10, 2011, approximately $5.8 million, net of tax, of total unrecognized compensation expense related to unvested stock option awards will be recognized over a weighted average period of 2.0 years.

Restricted Stock

None of the previously granted restricted stock units vested during the 12 and 28 weeks ended September 10, 2011. As of September 10, 2011, approximately $1.3 million, net of tax, of total unrecognized compensation expense relating to restricted stock units granted during fiscal 2010 and fiscal 2009 is expected to be recognized through fiscal 2013.

2004 Non-Employee Director Compensation Plan

Although the 2004 Non-Employee Director Compensation Plan ("Director Plan") is still in effect, at this time our Company does not anticipate issuing an annual grant of common stock or common stock equivalent in fiscal 2011. As a result, our Company reversed previously recognized stock compensation expense expected to be issued at the fiscal 2011 annual meeting during the first quarter of fiscal 2011. Such stock compensation expense will not be recognized in our Consolidated Statements of Operations until formal changes are made to the Director Plan.