STOCK BASED COMPENSATION

12 Months Ended

Mar. 01, 2014

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

STOCK BASED COMPENSATION

NOTE 8 – STOCK BASED COMPENSATION

Stock Option Plan

The Company formerly had an Incentive Stock Option and Appreciation Plan that allowed for the granting of incentive stock options, as defined in Section 422A of the Internal Revenue Code of 1986 (as amended), non-qualified stock options and stock appreciation rights. All outstanding options were cancelled when the Company emerged from bankruptcy on September 14, 2012. Neither the Amended and Restated Incentive Stock Option Plan nor the 2005 Plan is available for additional grants.

The following table summarizes stock option activity during fiscal 2012 as there was no stock option activity during fiscal 2013:

	Year Ended
	March 2, 2013
	Options	Weighted Average Exercise Price per Share
	(in thousands, except pre share amounts)
Outstanding - beginning of year	98	$	15.01
Exercised	-		-
Cancelled	(98)		(15.01)
Outstanding - end of year	-	$	-
Options exercisable at year end	-	$	-

Restricted Stock Units 

During fiscal 2013, the Company granted an aggregate of 326,000 RSUs (“Restricted Stock Units”) to certain employees and executives. The Company grants RSUs that are subject to continued employment and service based vesting conditions, but do not have dividend or voting rights. The RSUs vest in various increments typically on the anniversaries of the individual grant dates, through August 2016, subject to the recipient’s continued employment or service through each applicable vesting date.

The Company’s restricted stock activity is as follows:

	Year Ended March 1, 2014
	Number of Shares		Weighted Average Fair Value at Grant Date
Non-vested at beginning of period		-		-
Granted RSUs		326,000	$	5.35
Vested		(250,000)	$	5.00
Non-vested at end of period		76,000	$	6.49