STOCK OPTIONS

The Company has options outstanding under two stock option plans, the 2010 Stock Option Plan (the “2010 Plan”) and the 2016 Stock Option Plan (the “2016 Plan”). Options granted under both plans are exercisable at prices at least equal to the fair market value of such stock on the dates the options were granted and expire ten years after the date of grant.

The Company also maintains a Section 162(m) Cash Bonus Plan. Under the Company's Section 162(m) Cash Bonus Plan, compensation paid in excess of $1,000,000 to any employee who is the chief executive officer, or one of the three highest paid executive officers on the last day of that tax year (other than the chief executive officer or the chief financial officer) is not tax deductible.

A summary of stock option activity is presented below:



	2020
	Shares	Weighted Average Exercise Price	Weighted Average Contractual Term	Aggregate Intrinsic Value
Outstanding, beginning of period	363,500	$18.46	4.8 Years
Options:
Granted	—
Exercised	—
Canceled or expired	—
Outstanding and expected to vest, end of period	363,500	$19.25	4.5 Years	$	1,090,000
Exercisable, end of period	341,000	$19.21	4.1 Years	$	1,043,000

Shares available for future grant	441,000

Compensation cost charged to operations for the 13 weeks ended December 28, 2019 and December 29, 2018 for share-based compensation programs was approximately $12,000 and $12,000, respectively. The compensation cost recognized is classified as a general and administrative expense in the consolidated condensed statements of operations.

As of December 28, 2019, there was approximately $41,000 of unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a period of three years.