Note N - Share-based Compensation

3 Months Ended

Jun. 26, 2022

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

NOTE N – SHARE-BASED COMPENSATION

Total share-based compensation during the thirteen week periods ended June 26, 2022 and June 27, 2021 was $8 and $29, respectively. Total share-based compensation is included in general and administrative expenses in our accompanying Consolidated Statements of Earnings. As of June 26, 2022, there was $106 unamortized compensation expense related to share-based incentive awards. We expect to recognize this expense over approximately nineteen 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 26, 2022		June 27, 2021
Stock options	$	8	$	21
Restricted stock		-		8
Total compensation cost	$	8	$	29

Stock options:

There were no new share-based awards granted during the thirteen week period ended June 26, 2022.

Transactions with respect to stock options for the thirteen weeks ended June 26, 2022 are as follows:

			Weighted-		Weighted-		Aggregate
			Average		Average		Intrinsic
			Exercise		Remaining		Value
	Shares		Price		Contractual Life		(in thousands)
Options outstanding at March 27, 2022		20,000	$	79.20		2.92		-
Granted		-		-		-		-
Exercised		-		-		-		-
Options outstanding at June 26, 2022		20,000	$	79.20		2.67		-
Options exercisable at June 26, 2022		10,000	$	89.90		1.21		-