Share-Based Compensation

9 Months Ended

May. 30, 2015

NOTE 5 – SHARE-BASED COMPENSATION

The cost of our share-based compensation plans is included in selling, general, and administrative expenses in the accompanying condensed consolidated income statements. The total cost of our share-based compensation plans was as follows for the periods presented (in thousands).



		Quarter Ended			Three Quarters Ended
		May 30,		May 31,		May 30,		May 31,
		2015		2014		2015		2014
Performance awards	$	446	$	318	$	1,221	$	2,326
Unvested share awards		113		75		288		258
Employee stock purchase plan		33		32		93		85
Fully-vested share awards		-		191		-		191
	$	592	$	616	$	1,602	$	2,860

On January 23, 2015 our shareholders approved the 2015 Omnibus Incentive Plan (the 2015 Plan), which authorized an additional 1.0 million shares of common stock for issuance to employees and members of the Board of Directors as share-based payments. The 2015 Plan allows various types of share awards, including performance awards, unvested awards, stock options, or fully-vested awards as directed by the Organization and Compensation Committee of the Board of Directors (the Organization and Compensation Committee). We believe that the 2015 Plan will provide sufficient available shares to grant awards over the next several years, based on current expectations of grants in future periods. A more detailed description of the 2015 Plan is set forth in the Company’s Proxy Statement filed with the SEC on December 22, 2014.

During the quarter and three quarters ended May 30, 2015, we issued approximately 21,000 shares and 124,000 shares, respectively, of our common stock to employees and non-employee members of our Board of Directors for various share-based compensation awards. No new share-based compensation awards were granted and no previously granted awards were modified during the quarter ended May 30, 2015.

Employee Stock Purchase Plan

We have an employee stock purchase plan (ESPP) that offers qualified employees the opportunity to purchase shares of our common stock at a price equal to 85 percent of the average fair market value of our common stock on the last trading day of the calendar month in each fiscal quarter. During the quarter and three quarters ended May 30, 2015, we issued 11,772 shares and 31,768 shares of our common stock to participants in the ESPP.