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STOCK OPTION AND BENEFIT PLANS (Tables)
 12 Months Ended
Jun. 29, 2019
Share-based Payment Arrangement [Abstract]  
Grant Date Fair Value for Awards Estimated Using Option Valuation Method with Weighted Average Assumptions
On July 27, 2018, the Company granted 161,250 SARs under the 2010 Incentive Plan to certain key employees and outside directors at a strike price of $8.17 and a grant date fair value of $2.27, as of June 29, 2019, 141,250 remain outstanding. The grant date fair value for the awards granted during fiscal year 2019, were estimated using the Black Scholes option valuation method with the following weighted average assumptions as of July 27, 2018:
 
Fiscal Year 2019
 
July 27, 2018
Expected dividend yield
—%
Risk – free interest rate
2.80%
Expected volatility
29.75%
Expected life
4.00

On July 28, 2017, the Company granted 272,500 SARs under the 2010 Incentive Plan to certain key employees and outside directors at a strike price of $7.26 and a grant date fair value of $1.89, as of June 29, 2019, 227,500 remain outstanding. The grant date fair value for the awards granted during fiscal year 2018, were estimated using the Black Scholes option valuation method with the following weighted average assumptions as of July 28, 2017:
 
Fiscal Year 2018
 
July 28, 2017
Expected dividend yield
—%
Risk – free interest rate
1.70%
Expected volatility
29.76%
Expected life
4.00
On October 28, 2016, the Company granted 10,000 SARs under the 2010 Incentive Plan to certain key employees and outside directors at a strike price of $8.04 and a grant date fair value of $2.30, as of June 29, 2019, 10,000 remain outstanding. The grant date fair value for the awards granted during fiscal year 2017, were estimated using the Black Scholes option valuation method with the following weighted average assumptions as of October 28, 2016:
 
Fiscal Year 2017
 
October 28, 2016
Expected dividend yield
—%
Risk – free interest rate
1.63%
Expected volatility
33.43%
Expected life
4.00
On July 26, 2016, the Company granted 242,500 SARs under the 2010 Incentive Plan to certain key employees and outside directors at a strike price of $8.18 and a grant date fair value of $2.42, as of June 29, 2019, 207,500 remain outstanding. The grant date fair value for the awards granted during fiscal year 2017, were estimated using the Black Scholes option valuation method with the following weighted average assumptions as of July 26, 2016:
 
Fiscal Year 2017
 
July 26, 2016
Expected dividend yield
—%
Risk – free interest rate
0.93%
Expected volatility
36.13%
Expected life
4.00
Summarizes Option/SARs Activity of All Plans
The following table summarizes the Company’s Options and SARs activity for all plans from July 2, 2016 through June 29, 2019:
 
 
SARs
Available
For Grant
 
SARs
Outstanding
 
Aggregate
Intrinsic
Value (in
thousands)
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life (in
years)
Balances, July 2, 2016
634,669

 
971,665

 
$
339

 
$
8.75

 
2.4
Shares authorized
—

 
 
 
 
 
—

 
 
SARs granted
(252,500
)
 
252,500

 
 
 
8.17

 
 
SARs forfeited
12,166

 
(12,166
)
 
 
 
8.60

 
 
SARs exercised
—

 
(127,000
)
 
385

 
4.77

 
 
Balances, July 1, 2017
394,335

 
1,084,999

 
$
—

 
$
9.09

 
2.3
Shares authorized
—

 
 
 
 
 
—

 
 
SARs granted
(272,500
)
 
272,500

 
 
 
7.26

 
 
SARs forfeited
282,500

 
(282,500
)
 
 
 
7.84

 
 
SARs exercised
—

 
—

 
—

 
—

 
 
Balances, June 30, 2018
404,335

 
1,074,999

 
$
79

 
$
8.90

 
2.3
Shares authorized
—

 

 

 
—

 

SARs granted
(161,250
)
 
161,250

 

 
8.17

 

SARs forfeited
250,833

 
(250,833
)
 

 
10.59

 

SARs exercised
—

 
—

 
—

 
—

 

Balances, June 29, 2019
493,918

 
985,416

 
$
—

 
$
8.35

 
3.5
Exercisable at June 29, 2019
 
 
399,166

 
$
—

 
$
9.12

 
1.7
Additional Information Regarding Options Outstanding
Additional information regarding SARs outstanding and exercisable as of June 29, 2019, is as follows:
Range of
Exercise Prices
 
Number Outstanding
 
Weighted Avg.
Remaining
Contractual Life (yrs.)
 
Weighted Avg.
Exercise Price
 
Number
Exercisable
 
Weighted
Avg. Exercise
Price
$4.40 – $7.90
 
227,500

 
4.1
 
$
7.26

 
—

 
$
—

7.91 – 9.91
 
554,583

 
0.9
 
8.09

 
195,833

 
7.94

9.92 – 11.34
 
203,333

 
2.1
 
10.26

 
203,333

 
10.26

$4.40 to $11.34
 
985,416

 
3.5
 
$
8.35

 
399,166

 
$
9.12