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Note 5
 3 Months Ended
Dec. 27, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Note 5

At December 27, 2014, the Company has three stock-based employee compensation plans. Share-based compensation was recognized as follows:


   

Three months ended

 
   

December 27,

   

December 28,

 
   

2014

   

2013

 
   

(in thousands, except per share amounts)

 
                 
                 

Stock Options

  $ 284     $ 312  

Stock purchase plan

    147       129  

Restricted stock issued to an employee

    1       4  

Total share-based compensation

  $ 432     $ 445  
                 

Per diluted share

  $ 0.02     $ 0.02  
                 

The above compensation is net of tax benefits

  $ 92     $ 79  

The Company anticipates that share-based compensation will not exceed $2.1 million net of tax benefits, or approximately $.11 per share for the fiscal year ending September 26, 2015.


The Company did not grant any stock options during the 2015 three month period. During the 2014 three month period, the Company granted 97,975 stock options. The weighted-average grant date fair value of these options was $15.21.


Expected volatility is based on the historical volatility of the price of our common shares over the past 49 months for 5 year options and 10 years for 10 year options. We use historical information to estimate expected life and forfeitures within the valuation model. The expected term of awards represents the period of time that options granted are expected to be outstanding. The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Compensation cost is recognized using a straight-line method over the vesting or service period and is net of estimated forfeitures.