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Stock-Based Compensation (Tables) | 9 Months Ended
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Dec. 27, 2014
Schedule of assumptions used to determine fair value of stock options |
|  | Thirteen Weeks Ended |  | Thirty-Nine Weeks Ended |
|  | December 27, 2014 |  | December 28, 2013 |  | December 27, 2014 |  | December 28, 2013 |
Expected option term(1) |  | 6.5 years |  | 6.5 years |  | 6.5 years |  | 6.5 years |
Expected volatility factor(2) |  | 38.6% - 55.0% |  | 56.0% |  | 38.6% - 56.0% |  | 56.0% |
Risk-free interest rate(3) |  | 1.7% - 1.8% |  | 1.9% |  | 1.7% - 2.0% |  | 1.9% - 2.0% |
Expected annual dividend yield(4) |  | 0% |  | 0% |  | 0% |  | 0% |
| (1) |  | The Company has limited historical information regarding expected option term. Accordingly, the Company determined the expected life of the options using the simplified method.
| (2) |  | Stock volatility for each grant is measured using the weighted average of historical daily price changes of the Company’s competitors’ common stock over the most recent period equal to the expected option term of the Company’s awards.
| (3) |  | The risk-free interest rate is determined using the rate on treasury securities with the same term.
| (4) |  | The board of directors paid a dividend to stockholders in April 2014. The Company’s board of directors does not plan to pay cash dividends in the foreseeable future. Consequently, the Company used an expected dividend yield of zero.
Schedule of stock award activity | The following table summarizes the stock award activity for the thirty-nine weeks ended December 27, 2014 (aggregate intrinsic value in thousands):
|  |  |  | Grant Date |  | Weighted |  |  |
|  |  |  | Weighted- |  | Average |  |  |
|  |  |  | Average |  | Remaining |  | Aggregate |
|  | Stock |  | Exercise |  | Contractual |  | Intrinsic |
|  | Options |  | Price(1) |  | Life (in Years) |  | Value |
Outstanding at March 29, 2014 |  | 2,515,000 |  | $ | 5.97 |  |  |  |  |
Granted |  | 362,150 |  | $ | 12.21 |  |  |  |  |
Cancelled, forfetied or expired |  | — |  | $ | — |  |  |  |  |
Outstanding at December 27, 2014 |  | 2,877,150 |  | $ | 6.76 |  | 7.7 |  | $ | 33,556 |
Vested and expected to vest at December 27, 2014 |  | 2,877,150 |  | $ | 6.76 |  | 7.7 |  | $ | 33,556 |
Exerciseable at December 27, 2014 |  | 962,850 |  | $ | 6.61 |  | 7.4 |  | $ | 11,372 |
| (1) |  | The grant date weighted-average exercise price reflects the reduction of the exercise price by $2.00 per share for the 1,918,550 unvested options that were part of the April 2014 dividend discussed above.
Schedule of non-vested stock options |
|  |  |  | Weighted- |
|  |  |  | Average |
|  |  |  | Grant Date |
|  | Shares |  | Fair Value |
Nonvested at March 29, 2014 |  | 1,793,550 |  | $ | 3.55 |
Granted |  | 362,150 |  | $ | 6.55 |
Vested |  | (241,400 | ) | $ | 4.63 |
Nonvested shares forfeited |  | — |  | $ | — |
Nonvested at December 27, 2014 |  | 1,914,300 |  | $ | 3.98 |
CEO |
Schedule of assumptions used to determine fair value of stock options | The following significant assumptions were used as of October 29, 2014:
Stock price |  | $ | 16.00 |
Exercise price |  | $ | 16.00 |
Expected option term |  | 6.0 years |
Expected volatility |  | 55.0 | %
Risk-free interest rate |  | 1.8 | %
Expected annual dividend yield |  | 0 | %

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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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