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2011 EQUITY INCENTIVE PLAN:
 6 Months Ended
Sep. 27, 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 $5,664 and $14,126 during the three and six months ended September 27, 2019 and $2,398 and $5,596 during the three and six months ended September 28, 2018.

 

Unrecognized stock-based compensation expense:

 

The Company expects to recognize $25,454 in stock option compensation expense for the entire fiscal year ended March 2020 and $16,992 for the entire fiscal year ended March 2021.

  

The following table shows the activity for the fiscal years ended March 29, 2019 and March 30, 2018 and through September 27, 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    7.75   $1,832 
            Granted        —                
            Exercised        —                
            Forfeited or Expired        —                
Outstanding at the End of the Quarter   6/28/2019    185,000   $6.05           
            Fully Vested        181,000   $5.87    7.50    2,008 
            Exercisable at the End of the Quarter
            June 28, 2019		        181,000                
                          
Outstanding at the Beginning of the Quarter   6/28/2019    185,000   $6.05           
            Granted        —                
            Exercised        (9,283)   6.00           
            Forfeited or Expired        —                
Outstanding at the End of the Quarter   9/27/2019    175,717   $6.24    7.25   $2,418 
            Fully Vested        171,717   $5.95           
            Exercisable at the End of the Quarter
            September 27, 2019		        171,717                

 

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.

 

During the quarter ended September 27, 2019, three individuals opted to exercise some of their options, consequently, the issued and outstanding number of shares increased by 8,283 shares (9,283 shares exercised less 1,000 issued and outstanding shares surrendered) to 2,331,751 shares.