Stock-Based Compensation

9 Months Ended

Mar. 24, 2024

Note D - Stock-Based Compensation

Stock Options:

For the three and nine months ended March 24, 2024, the Company recognized stock-based compensation expense related to stock options of zero and zero, respectively. For the three and nine months ended March 26, 2023, the Company recognized stock-based compensation expense related to stock options of $4 thousand and $11 thousand, respectively. As of March 24, 2024, there was no unamortized stock-based compensation expense related to stock options.

The following table summarizes the number of shares of the Company’s common stock subject to outstanding stock options:

	Nine Months Ended
	March 24, 2024			March 26, 2023
	Shares			Shares
Outstanding at beginning of year		151,750			111,750

Granted		—			40,000
Exercised		—			—
Forfeited/Canceled/Expired		(8,664	)		—

Outstanding at end of period		143,086			151,750

Exercisable at end of period		143,086			111,750

Restricted Stock Units:

For the three and nine months ended March 24, 2024, the Company had stock-based compensation expense related to RSUs of $45 thousand and $127 thousand, respectively. For the three and nine months ended March 26, 2023, the Company had stock-based compensation expense related to RSUs of $82 thousand and $248 thousand, respectively. As of March 24, 2024, there was $283 thousand unamortized stock-based compensation expense related to RSUs.

As of March 24, 2024, the RSUs will be amortized during the next seven months. A summary of the status of restricted stock units as of March 24, 2024 and March 26, 2023, and changes during the nine months then ended is presented below:

	Nine Months Ended
	March 24, 2024			March 26, 2023
Unvested at beginning of year		885,688			885,688
Granted		131,460			—
Issued		(588,589	)		—
Forfeited/Canceled		(126,684	)		—
Unvested at March 24, 2024		301,875			885,688