Note O - Share-based Compensation

3 Months Ended

Jun. 27, 2021

Notes to Financial Statements

Share-based Payment Arrangement [Text Block]

NOTE O – SHARE-BASED COMPENSATION

Total share-based compensation during the thirteen week periods ended June 27, 2021 and June 28, 2020 was $29,000. Total share-based compensation is included in general and administrative expenses in our accompanying Consolidated Statements of Earnings. As of June 27, 2021, there was $25,000 of unamortized compensation expense related to share-based incentive awards. We expect to recognize this expense over approximately two months, which represents the weighted average remaining requisite service periods for such awards.

The Company recognizes compensation cost for unvested stock-based incentive awards on a straight-line basis over the requisite service period. Compensation cost charged to expense under all stock-based incentive awards is as follows (in thousands):

	Thirteen weeks ended
	June 27, 2021		June 28, 2020
Stock options	$	21	$	21
Restricted stock		8		8
Total compensation cost	$	29	$	29

Stock options:

There were no new share-based awards granted during the thirteen week period ended June 27, 2021.

Transactions with respect to stock options for the thirteen weeks ended June 27, 2021 are as follows:

			Weighted-		Weighted-		Aggregate
			Average		Average		Intrinsic
			Exercise		Remaining		Value
	Shares		Price		Contractual Life		(in thousands)
Options outstanding at March 28, 2021		10,000	$	89.90		2.46		-
Granted		-		-		-		-
Exercised		-		-		-		-
Options outstanding at June 27, 2021		10,000	$	89.90		2.21		-
Options exercisable at June 27, 2021		6,667	$	89.90		2.21		-

Restricted stock:

Transactions with respect to restricted stock for the thirteen weeks ended June 27, 2021 are as follows:

			Weighted-
			Average
			Grant-date Fair value
	Shares		Per share
Unvested restricted stock at March 28, 2021		333	$	89.90
Granted		-		-
Vested		-		-
Unvested restricted stock at June 27, 2021		333	$	89.90