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Note E - Stock Compensation
3 Months Ended
Mar. 20, 2021
Notes to Financial Statements  
Share-based Payment Arrangement [Text Block]

Note E – Stock Compensation


 

The fair value of stock-based compensation is recognized in accordance with the provisions of FASB ASC 718, Stock Compensation.

 

During the three months ended March 20, 2021, the Company awarded 13,332 restricted stock units to directors and 37,283 restricted stock units to employees. The restricted stock units awarded to directors time vest over two years (one-half one year from grant date and one-half two years from grant date) provided that the director is still a director of the Company at the vest date. Director restricted stock units are subject to forfeiture, except for termination of services as a result of retirement, death or disability, if on the vesting date the director no longer holds a position with the Company. The 2021 restricted stock units awarded to employees time vest over three years (one-third one year from grant, one-third two years from grant and one-third three years from grant) provided that the employee is still employed by the Company on the vesting date.

 

For the three months ended March 20, 2021 and March 21, 2020, the Company recognized stock based compensation expense of $111 thousand and $136 thousand, respectively. At March 20, 2021 and March 21, 2020, respectively, there was $1.5 million and $1.2 million in unrecognized stock-based compensation expense related to non-vested stock awards.