Note N - Share-based Compensation

6 Months Ended

Sep. 25, 2022

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

NOTE N – SHARE-BASED COMPENSATION

Total share-based compensation during the thirteen and twenty-six week periods ended September 25, 2022 and September 26, 2021 was $8 and $29, and $16 and $58, respectively. Total share-based compensation is included in general and administrative expenses in our accompanying Consolidated Statements of Earnings. As of September 25, 2022, there was $98 of unamortized compensation expense related to share-based incentive awards. We expect to recognize this expense over approximately seventeen 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				Twenty-six weeks ended
	September 25, 2022		September 26, 2021		September 25, 2022		September 26, 2021
Stock options	$	8	$	23	$	16	$	44
Restricted stock		-		6		-		14
Total compensation cost	$	8	$	29	$	16	$	58

Stock options:

There were no new share-based awards granted during the twenty-six week period ended September 25, 2022.

Transactions with respect to stock options for the twenty-six weeks ended September 25, 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 September 25, 2022		20,000	$	79.20		2.42		-
Options exercisable at September 25, 2022		12,500	$	85.62		1.54		-