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Stock-Based Compensation (Tables) | 12 Months Ended
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Mar. 28, 2020
Stock-Based Compensation |
Schedule of assumptions used to determine fair value of stock options | The fair values of stock options granted in fiscal 2020, 2019, and 2018 were estimated on the grant dates using the following assumptions:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Fiscal Year Ended | ​
​ | March 28, | ​ | March 30, | ​ | March 31, | ​
​ | 2020 |  | 2019 |  | 2018 |
Expected option term(1) | 6.3 | ​ | - | 7.0 | years | ​ | ​ | ​ | 5.3 | years | ​ | ​ | ​ | 5.5 | years
Expected volatility factor(2) | 35.3 | % | - | 38.1 | % | 36.1 | % | - | 37.7 | % | 34.0 | % | - | 35.5 | %
Risk-free interest rate(3) | 0.5 | % | - | 2.3 | % | 2.2 | % | - | 2.8 | % | 1.8 | % | - | 2.7 | %
Expected annual dividend yield | ​ | ​ | ​ | 0 | % | ​ | ​ | ​ | 0 | % | ​ | ​ | ​ | 0 | %
​
(1) | The Company has limited historical information regarding the 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.
Schedule of stock award activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ | ​ |  | Weighted |  | ​ | ​ |
​ | ​ | ​ | ​ | Grant Date | ​ | Average | ​ | ​ | ​ |
​ | ​ | ​ | ​ | Weighted | ​ | Remaining | ​ | Aggregate |
​ | ​ | Stock | ​ | Average | ​ | Contractual | ​ | Intrinsic |
​ |  | Options |  | Exercise Price |  | Life (in Years) |  | Value |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (in thousands) | ​
Outstanding at March 30, 2019 |  | 1,293,347 | ​ | $ | 15.40 | ​ | ​ | ​ | ​ | ​ | ​
Granted |  | 354,225 | ​ | $ | 28.36 | ​ | ​ | ​ | ​ | ​ | ​
Exercised | ​ | (404,583) | ​ | $ | 12.86 | ​ | ​ | ​ | $ | 9,922 | ​
Cancelled, forfeited or expired |  | (21,766) | ​ | $ | 17.76 | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at March 28, 2020 |  | 1,221,223 | ​ | $ | 19.96 |  | 6.1 | ​ | $ | 2,465 | ​
Vested and expected to vest after March 28, 2020 |  | 1,221,223 | ​ | $ | 19.96 |  | 6.1 | ​ | $ | 2,465 | ​
Exercisable at March 28, 2020 |  | 289,966 | ​ | $ | 20.60 |  | 3.9 | ​ | $ | 309 | ​
Schedule of non-vested stock options | A summary of the status of non-vested stock options as of March 28, 2020 and changes during fiscal 2020 is presented below:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted- |
​ | ​ | ​ | ​ | Average |
​ | ​ | ​ | ​ | Grant Date |
​ |  | Shares |  | Fair Value |
Nonvested at March 30, 2019 |  | 917,850 | ​ | $ | 5.48 | ​
Granted |  | 354,225 | ​ | $ | 9.52 | ​
Vested |  | (322,711) | ​ | $ | 5.82 | ​
Nonvested shares forfeited |  | (18,107) | ​ | $ | 5.47 | ​
Nonvested at March 28, 2020 |  | 931,257 | ​ | $ | 6.90 | ​
CEO |
Stock-Based Compensation |
Schedule of assumptions used to determine fair value of stock options | ​
​ | ​ | ​ | ​ | ​
Stock price |  | $ | 28.63 |
Exercise price | ​ | $ | 28.63 | ​
Expected option term | ​ |  | 7.0 | years
Expected volatility | ​ |  | 35.3 | %
Risk-free interest rate | ​ | ​ | 2.3 | %
Expected annual dividend yield | ​ | ​ | 0 | %

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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