Note N - Share-based Compensation

3 Months Ended

Jun. 30, 2024

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 30, 2024 and June 25, 2023 was $188 and $177, respectively. Total share-based compensation expense is included in general and administrative expenses in our accompanying Consolidated Statements of Earnings. As of June 30, 2024, there was $2,473 of unamortized compensation expense related to share-based awards. We expect to recognize this expense over approximately thirty-six 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 30, 2024		June 25, 2023
Stock options	$	19	$	8
Restricted stock units		169		169
Total compensation cost	$	188	$	177

Stock options

There were no new share-based awards granted during the thirteen week period ended June 30, 2024.

Transactions with respect to stock options for the thirteen weeks ended June 30, 2024 are as follows:

			Weighted		Weighted		Aggregate
			Average		Average		Intrinsic
			Exercise		Remaining		Value
	Shares		Price		Contractual Life		(in thousands)
Options outstanding at March 31, 2024		20,000	$	73.25		3.36	$	23
Granted		-		-		-		-
Exercised		-		-		-		-
Options outstanding at June 30, 2024		20,000	$	73.25		3.11	$	-
Options exercisable at June 30, 2024		5,000	$	68.50		2.11	$	-

Restricted stock units

Transactions with respect to restricted stock units for the thirteen weeks ended June 30, 2024 are as follows:

			Weighted
			Average
			Grant-date Fair value
	Shares		Per share
Unvested restricted stock units at March 31, 2024		40,000	$	67.59
Granted		-	$	-
Vested		-	$	-
Unvested restricted stock units at June 30, 2024		40,000	$	67.59