2011 EQUITY INCENTIVE PLAN:

3 Months Ended

Jun. 28, 2019

Share-based Payment Arrangement [Abstract]

2011 EQUITY INCENTIVE PLAN

Note 8-  2011 EQUITY INCENTIVE PLAN: 

Stock-based compensation expense:

The Company reported compensation expense of $2,798 during the quarter ended June 28, 2019 and $2,798 during the quarter ended June 29, 2018 resulting from stock options granted on August 15, 2016.

The Company also reported compensation expense of $5,664 during the quarter ended June 28, 2019 resulting from stock options granted on October 26, 2018.

Unrecognized stock-based compensation expense:

The Company expects to recognize $25,454 in stock option compensation expense for the fiscal year ended March 2020 and $16,992 for the fiscal year ended March 2021. In the fiscal quarter ended June 28, 2019, the Company recognized $8,462 in stock option compensation expense.

The following table shows the activity for the fiscal years ended March 29, 2019 and March 30, 2018 and through June 28, 2019 

		Shares		Weighted Avg. Exercise Price		Remaining Contractual Term (Years)		Aggregate Intrinsic Value (in thousands)
Outstanding at the Beginning of the Quarter	3/29/2019		185,000	$	6.05		7.50	$	2,008
Granted			—
Exercised			—
Forfeited or Expired			—
Outstanding at the End of the Quarter	6/28/2019		185,000	$	6.07
Fully Vested			181,000	$	5.87
Exercisable at the End of the Quarter             June 28, 2019			181,000

The aggregate intrinsic value in the table above represents the total pretax intrinsic value (i.e., the difference between the Company’s closing stock price on the last trading day of the period and the exercise price, times the number of shares) that would have been received by the option holders had all option holders exercised their in-the-money options on those dates. This amount will change based on the fair market value of the Company’s common stock.