STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Jul. 02, 2021

STOCK-BASED COMPENSATION

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

Assumptions used in the Black-Scholes model and the estimated value of options granted during the nine months ended July 2, 2021 and June 26, 2020 follows.

	Nine Months Ended
	July 2,			June 26,
Valuation of Options	2021			2020
Assumptions for Black-Scholes:
Risk-free interest rate		0.62	%		0.49	%
Expected term in years		5.5			5.5
Volatility		40	%		40	%
Expected annual dividends		none			none
Value of options granted:
Number of options granted		65,000			37,500
Weighted average fair value per share	$	3.92		$	2.65
Fair value of options granted (000s)	$	255		$	99

Schedule of Stock Option Activity

A summary of stock option activity, together with other related data, follows:

	Nine Months Ended
	July 2, 2021				June 26, 2020
			Wgtd. Avg.			Wgtd. Avg.
	Number		Exercise		Number	Exercise
Stock Options	of Options		Price		of Options	Price
Outstanding, beginning of period		670,145	$	4.67	743,145	$	4.54
Granted		65,000		10.00	37,500		5.26
Exercised		(18,375)		5.14	(30,500)		5.29
Forfeited		(17,000)		6.81	(15,000)		3.92
Expired		(3,000)		3.74	(5,000)		6.91
Outstanding, end of period		696,770	$	5.11	730,145	$	4.54
For options expected to vest
Number expected to vest		688,815	$	5.08	721,416	$	4.53
Weighted average remaining contractual term, in years		4.9			3.1
Intrinsic value (000s)			$	3,740		$	3,442
For exercisable options
Number exercisable		502,145	$	4.32	538,645	$	4.15
Weighted average remaining contractual term, in years		3.9			1.7
Intrinsic value (000s)			$	3,095		$	2,761
For non-exercisable options
Expense not yet recognized (000s)			$	442		$	345
Weighted average years to be recognized		2.9			2.9
For options exercised
Intrinsic value (000s)			$	106		$	93

Schedule of Restricted Stock Activity

A summary of restricted stock activity, together with related data, follows:

	Nine Months Ended
	July 2, 2021			June 26, 2020
		Wgtd. Avg.			Wgtd. Avg.
	Number of Non-	Grant Date		Number of Non-	Grant Date
Restricted (Non-vested) Stock	vested Shares	Fair Value		vested Shares	Fair Value
Outstanding, beginning of period	49,825	$	5.32	82,707	$	5.25
Granted	20,407		11.64	24,850		5.03
Vested	(25,380)		5.19	(44,482)		4.80
Forfeited	(1,000)		4.12	(13,250)		6.09
Outstanding, end of period	43,852	$	8.37	49,825	$	5.32
For non-vested shares
Expense not yet recognized (000s)		$	330		$	255
Weighted average remaining years for vesting	2.1			1.7
For shares vested
Aggregate fair value on vesting dates (000s)		$	333		$	317

Schedule of Restricted Stock Unit Activity

A summary of restricted stock unit activity, together with related data, follows:

	Nine Months Ended
	July 2, 2021			June 26, 2020
		Wgtd. Avg.			Wgtd. Avg.
	Number of Non-	Grant Date		Number of Non-	Grant Date
Restricted Stock Units	vested Units	Fair Value		vested Units	Fair Value
Outstanding, beginning of period	186,727	$	6.56	153,186	$	5.36
Granted	67,597		7.65	50,556		9.19
Vested	(102,624)		4.28	(17,015)		3.58
Forfeited	—		—	—		—
Outstanding, end of period	151,700	$	8.58	186,727	$	6.56
For non-vested shares
Expense not yet recognized (000s)		$	722		$	818
Weighted average remaining years for vesting	1.7			2.0
For shares vested
Aggregate fair value on vesting dates (000s)		$	1,268		$	86