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Note O - Share-based Compensation

3 Months Ended

Jun. 28, 2020

Share-based Payment Arrangement [Text Block]

NOTE O – SHARE-BASED COMPENSATION

Total share-based compensation during the thirteen-week periods ended June 28, 2020 and June 30, 2019 was $29,000 and $28,000, respectively. Total share-based compensation is included in general and administrative expenses in our accompanying Consolidated Statements of Earnings. As of June 28, 2020, there was $140,000 of unamortized compensation expense related to share-based incentive awards. We expect to recognize this expense over approximately fourteen months, which represents the weighted average remaining requisite service periods for such awards.

The Company recognizes compensation cost for unvested stock-based incentive awards on a straight-line basis over the requisite service period. Compensation cost charged to expense under all stock-based incentive awards is as follows (in thousands):

	Thirteen weeks ended
	June 28, 2020		June 30, 2019

Stock options	$	21	$	21
Restricted stock		8		7
Total compensation cost	$	29	$	28

Stock options:

There were no new share-based awards granted during the thirteen-week period ended June 28, 2020.

Transactions with respect to stock options for the thirteen weeks ended June 28, 2020 are as follows:

Weighted-

Aggregate

Average

Intrinsic

Exercise

Remaining

Value

Price

Contractual Life

(in thousands)

Options outstanding at March 29, 2020

10,000

89.90

3.45

Granted

Exercised

Options outstanding at June 28, 2020

10,000

89.90

3.21

Options exercisable at June 28, 2020

3,333

89.90

3.21

Restricted stock:

Transactions with respect to restricted stock for the thirteen weeks ended June 28, 2020 are as follows:

			Weighted-
			Average
			Grant-date Fair value
	Shares		Per share
Unvested restricted stock at March 29, 2020		667	$	89.90
Granted		-		-
Vested		-		-
Unvested restricted stock at June 28, 2020		667	$	89.90