Note N - Share-based Compensation

3 Months Ended

Jun. 25, 2023

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

NOTE N – SHARE-BASED COMPENSATION

Total share-based compensation expense during the thirteen week periods ended June 25, 2023 and June 26, 2022 was $177 and $8, respectively. Total share-based compensation expense is included in general and administrative expenses in our accompanying Consolidated Statements of Earnings. As of June 25, 2023, there was $3,055 of unamortized compensation expense related to share-based awards. We expect to recognize this expense over approximately forty-nine months, which represents the weighted average remaining requisite service periods for such awards.

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

	Thirteen weeks ended
	June 25, 2023		June 26, 2022
Stock options	$	8	$	8
Restricted stock units		169		-
Total compensation cost	$	177	$	8

Stock options

There were no new share-based awards granted during the thirteen week period ended June 25, 2023.

Transactions with respect to stock options for the thirteen weeks ended June 25, 2023 are as follows:

			Weighted		Weighted		Aggregate
			Average		Average		Intrinsic
			Exercise		Remaining		Value
	Shares		Price		Contractual Life		(in thousands)
Options outstanding at March 26, 2023		20,000	$	79.20		1.92	$	40
Granted		-		-		-		-
Exercised		-		-		-		-
Options outstanding at June 25, 2023		20,000	$	79.20		1.67	$	78
Options exercisable at June 25, 2023		12,500	$	85.62		.80	$	19

Restricted stock units

Transactions with respect to restricted stock units for the thirteen weeks ended June 25, 2023 are as follows:

			Weighted
			Average
			Grant-date Fair value
	Shares		Per share
Unvested restricted stock units at March 26, 2023		50,000	$	67.59
Granted		-	$	-
Vested		-	$	-
Unvested restricted stock units at June 25, 2023		50,000	$	67.59