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STOCK OPTION AND BENEFIT PLANS (Tables)
12 Months Ended
Jul. 01, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
On July 29, 2022, the Company granted 145,000 SARs under the 2010 Incentive Plan to certain key employees and outside directors at a strike price of $5.10 and a grant date fair value of $2.09. As of July 1, 2023, 140,000 remain outstanding. The grant date fair value for the awards granted during fiscal year 2023, were estimated using the Black Scholes option valuation method with the following weighted average assumptions as of July 29, 2022:
Fiscal Year 2023
 July 29, 2022
Expected dividend yield—%
Risk – free interest rate3.01%
Expected volatility48.56%
Expected life4.00
On August 9, 2021, the Company granted 165,000 SARs under the 2010 Incentive Plan to certain key employees and outside directors at a strike price of $7.17 and a grant date fair value of $2.73. As of July 1, 2023, 140,000 remain outstanding. The grant date fair value for the awards granted during fiscal year 2022, were estimated using the Black Scholes option valuation method with the following weighted average assumptions as of August 9, 2021:
Fiscal Year 2022
 August 9, 2021
Expected dividend yield—%
Risk – free interest rate0.62%
Expected volatility48.58%
Expected life4.00
On July 23, 2020, the Company granted 155,000 SARs under the 2010 Incentive Plan to certain key employees and outside directors at a strike price of $6.94 and a grant date fair value of $2.32. As of July 1, 2023, 130,000 remain outstanding. The grant date fair value for the awards granted during fiscal year 2021, were estimated using the Black Scholes option valuation method with the following weighted average assumptions as of July 23, 2020:
Fiscal Year 2021
 July 23, 2020
Expected dividend yield—%
Risk – free interest rate0.17%
Expected volatility42.85%
Expected life4.00
Schedule of Option/SARs Activity of All Plans
The following table summarizes the Company’s Options and SARs activity for all plans from July 3, 2022 through July 1, 2023:
 
SARs
Available
For Grant
SARs
Outstanding
Aggregate
Intrinsic
Value (in
thousands)
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Life (in
years)
Balances, July 3, 2021688,084 791,250 $— $7.15 1.9
Shares authorized— $— 
SARs granted(165,000)165,000 $7.17 
SARs forfeited197,500 (197,500)$8.17 
SARs exercised
Balances, July 2, 2022720,584 758,750 $— $6.89 2.1
Shares authorized— — 
SARs granted(145,000)145,000 5.10 
SARs forfeited277,500 (277,500)7.03 
SARs exercised— — — — 
Balances, July 1, 2023853,084 626,250 $— $6.41 2.2
Exercisable at July 1, 2023226,250 $— $6.45 0.6
Schedule of Additional Information Regarding Options Outstanding
Additional information regarding SARs outstanding and exercisable as of July 1, 2023, is as follows:
Range of
Exercise Prices
Number OutstandingWeighted Avg.
Remaining
Contractual Life (yrs.)
Weighted Avg.
Exercise Price
Number
Exercisable
Weighted
Avg. Exercise
Price
$4.93 – $7.43
525,000 2.1$6.06 120,000 $4.93 
$7.44 – $9.44
101,250 14.68.17 106,250 8.17 
$4.93 to $9.44
626,250 2.2$6.41 226,250 $6.45