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Stock-Based Compensation
6 Months Ended
Oct. 03, 2021
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
As of October 3, 2021, the Company maintains the 2017 Equity Incentive Plan as amended from time to time (“2017 EIP”). The 2017 EIP reserved 4,173,554 shares of common stock for the grant of various classes of nonqualified stock options, restricted stock units, market condition-based on total shareholder return (“TSR”) and performance condition-based share units (“PSU”) and other forms of equity-based compensation.

The Company recognized stock-based compensation expense associated with its equity incentive plans of $5,765 for the second quarter of fiscal 2022 and $5,533 for the second quarter of fiscal 2021. Stock-based compensation was $9,424 and $10,586 for the six months of fiscal 2022 and fiscal 2021, respectively. The Company recognizes compensation expense using the straight-line method over the vesting period of the awards.

During the six months of fiscal 2022, the Company granted to non-employee directors 22,250 restricted stock units, under the deferred compensation plan for non-employee directors. The awards vest immediately upon the date of grant and are settled in shares of common stock.

During the six months of fiscal 2022, the Company granted to management and other key employees 246,222 non-qualified stock options that vest ratably over three years from the date of grant and 229,600 restricted stock units that vest ratably over four years from the date of grant.

Common stock activity during the six months of fiscal 2022 included the exercise of 37,390 stock options and the vesting of 204,586 restricted stock units, 46,048 TSRs and 670 PSUs.
As of October 3, 2021, there were 992,791 non-qualified stock options, 907,265 restricted stock units including non-employee director restricted stock units, 74,363 TSRs and 77,519 PSUs outstanding.