Stock-Based Compensation (Tables)

12 Months Ended

Apr. 03, 2021

Stock Options. The following table summarizes stock option activity for fiscal years 2021, 2020 and 2019:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in thousands)
Outstanding at March 31, 2018	418,205	$	79.73
Granted	73,750	194.08
Exercised	(74,144)	53.78
Canceled or expired	(6,700)	150.34
Outstanding at March 30, 2019	411,111	$	102.71	3.74	$	61,025
Granted	74,750	145.24
Exercised	(120,687)	63.66
Canceled or expired	(1,000)	99.65
Outstanding at March 28, 2020	364,174	$	123.93	4.02	$	49,000
Granted	39,800	177.61
Exercised	(131,567)	90.49
Canceled or expired	(20,658)	148.95
Outstanding at April 3, 2021	251,749	$	146.86	4.04	$	34,266

Exercisable at March 30, 2019	197,663	$	71.28	2.35	$	31,296
Exercisable at March 28, 2020	179,133	$	100.82	2.83	$	25,423
Exercisable at April 3, 2021	108,588	$	132.48	3.22	$	15,549

The fair values of options granted were estimated at the date of grant using the following weighted average assumptions:


	Fiscal Year
	2021		2020		2019
Volatility	47.5	%	36.0	%	31.5	%
Risk-free interest rate	0.3	%	2.0	%	2.7	%
Dividend yield	—	%	—	%	—	%
Expected option life in years	4.56		4.33		5.18
Estimated forfeiture rate	7.0	%	7.0	%	7.0	%

Restricted Stock Awards. A summary of restricted stock award activity for fiscal years 2021 and 2020 is as follows:


	Number of Shares
	Performance-Based Awards	Service-Based Awards	Total
Outstanding at March 30, 2019	—	—	—
Awarded	7,305	4,900	12,205
Released	—	(400)	(400)
Canceled or expired	—	—	—
Outstanding at March 28, 2020	7,305	4,500	11,805
Awarded	7,450	3,550	11,000
Released	—	(3,465)	(3,465)
Canceled or expired	(1,816)	—	(1,816)
Outstanding at April 3, 2021	12,939	4,585	17,524
Unvested target stock awards that may vest based upon performance conditions through fiscal year 2022	6,438
Unvested target stock awards that may vest based upon performance conditions through fiscal year 2023	6,501