Employee Benefits

12 Months Ended

Apr. 03, 2015

Compensation and Retirement Disclosure [Abstract]

Employee Benefits

Note 10 — Employee Benefits

The Company is a sponsor of a voluntary deferred compensation plan under Section 401(k) of the Internal Revenue Code. Under the plan, the Company may make discretionary contributions to the plan which vest over six years. The Company’s discretionary matching contributions to the plan are based on the amount of employee contributions and can be made in cash or the Company’s common stock at the Company’s election. Subsequent to the 2015 fiscal year-end, the Company elected to settle the discretionary contributions liability in stock, consistent with fiscal year 2014. Based on the year-end common stock closing price, the Company would issue 192,892 shares of common stock at this time. Discretionary contributions accrued by the Company as of April 3, 2015 and April 4, 2014 amounted to $11.6 million and $10.1 million, respectively.