Stock Option and Purchase Plans

12 Months Ended

Jul. 01, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

STOCK OPTION AND PURCHASE PLANS

A summary of stock option activity under our stock incentive plan was as follows:

				Weighted Average		Weighted Average Remaining Contractual		Aggregate Intrinsic Value
	Shares			Exercise Price		Term (in years)		(in thousands)
Balance at June 28, 2015		163,907		$	27.97
Exercised		(16,909	)	$	21.55
Terminated		(2,000	)	$	17.59
Balance at July 3, 2016		144,998		$	28.86
Exercised		(6,490	)	$	20.96
Balance at July 2, 2017		138,508		$	29.23
Exercised		(5,434	)	$	25.64
Balance at July 1, 2018		133,074		$	29.37		3.4	$	862
Exercisable as of:
July 1, 2018		133,074		$	29.37		3.4	$	862
July 2, 2017		129,498		$	25.71		4.2	$	1,361
July 3, 2016		103,798		$	21.39		4.6	$	2,174

No options were granted during fiscal 2018, 2017 or 2016.

A summary of restricted stock activity under our stock incentive plan was as follows:

				Weighted Average
				Grant Date
	Shares			Fair Value
Nonvested Balance at June 28, 2015		66,350		$	45.03
Granted		28,750		$	69.02
Vested		(20,300	)	$	23.69
Forfeited		(3,050	)	$	59.92
Nonvested Balance at July 3, 2016		71,750		$	60.05
Granted		27,150		$	43.87
Vested		(21,250	)	$	37.53
Forfeited		(1,800	)	$	58.24
Nonvested Balance at July 2, 2017		75,850		$	60.61
Granted		27,950		$	33.30
Vested		(30,400	)	$	62.99
Forfeited		(4,275	)	$	52.47
Nonvested Balance at July 1, 2018		69,125		$	49.02

We have an Employee Stock Purchase Plan to provide substantially all U.S. full-time associates an opportunity to purchase shares of STRATTEC common stock through payroll deductions. A participant may contribute a maximum of $5,200 per calendar year to the plan. On the last day of each month or if such date is not a trading day on the most recent previous trading day, participant account balances are used to purchase shares of our common stock at the average of the highest and lowest reported sales prices of a share of STRATTEC common stock on the NASDAQ Global Market on such date. A total of 100,000 shares may be issued under the plan. Shares issued from treasury stock under the plan totaled 2,753 at an average price of $37.06 during 2018, 3,019 at an average price of $34.88 during 2017 and 1,948 at an average price of $55.77 during 2016. A total of 61,412 shares remain available for purchase under the plan as of July 1, 2018.