Stock Option and Purchase Plans

12 Months Ended

Jun. 27, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

STOCK OPTION AND PURCHASE PLANS

A summary of stock option activity under our stock incentive plan was as follows:

				Weighted Average		Weighted Average Remaining Contractual		Aggregate Intrinsic Value
	Shares			Exercise Price		Term (in years)		(in thousands)
Balance at June 30, 2019		117,360		$	31.85
Exercised		(26,500	)	$	18.00
Balance at June 28, 2020		90,860		$	35.88
Exercised		(18,236	)	$	28.85
Balance at June 27, 2021		72,624		$	37.65		1.5	$	790
Exercisable as of:
June 27, 2021		72,624		$	37.65		1.5	$	790
June 28, 2020		90,860		$	35.88		2.4	$	-

No options were granted during fiscal 2021 or 2020.

A summary of restricted stock activity under our stock incentive plan was as follows:

				Weighted Average
				Grant Date
	Shares			Fair Value
Nonvested Balance at June 30, 2019		63,757		$	39.47
Granted		39,150		$	21.80
Vested		(27,318	)	$	37.86
Forfeited		(6,195	)	$	34.38
Nonvested Balance at June 28, 2020		69,394		$	30.59
Granted		48,300		$	21.20
Vested		(34,669	)	$	34.95
Forfeited		(1,050	)	$	22.84
Nonvested Balance at June 27, 2021		81,975		$	23.31

We have an Employee Stock Purchase Plan to provide substantially all U.S. full-time associates an opportunity to purchase shares of STRATTEC common stock through payroll deductions. A participant may contribute a maximum of $5,200 per calendar year to the plan. On the last day of each month or if such date is not a trading day on the most recent previous trading day, participant account balances are used to purchase shares of our common stock at the average of the highest and lowest reported sales prices of a share of STRATTEC common stock on the NASDAQ Global Market on such date. A total of 100,000 shares may be issued under the plan. Shares issued from treasury stock under the plan totaled 2,541 at an average price of $31.03 during 2021 and 4,246 at an average price of $19.42 during 2020. A total of 51,330 shares remain available for purchase under the plan as of June 27, 2021.