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Stock-Based Compensation | 6 Months Ended
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Oct. 02, 2022
Share-based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation As of October 2, 2022, 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 $6,534 for the second quarter of fiscal 2023 and $5,765 for the second quarter of fiscal 2022. Stock-based compensation was $11,864 and $9,424 for the six months of fiscal 2023 and fiscal 2022, respectively. The Company recognizes compensation expense using the straight-line method over the vesting period of the awards. During the six months of fiscal 2023, the Company granted to non-employee directors 36,404 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 2023, the Company granted to management and other key employees 310,140 non-qualified stock options that vest ratably over three years from the date of grant and 345,449 restricted stock units that vest ratably over four years from the date of grant. Common stock activity during the six months of fiscal 2023 included the exercise of 4,328 stock options and the vesting of 219,068 restricted stock units, 29,171 TSRs and 21,195 PSUs. As of October 2, 2022, there were 1,277,124 non-qualified stock options, 1,021,472 restricted stock units including non-employee director restricted stock units and 31,510 TSRs outstanding.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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