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Note 5
 3 Months Ended
Dec. 26, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Note 5

At December 26, 2015, the Company has three stock-based employee compensation plans. Share-based compensation was recognized as follows:

   

Three months ended

  
   

December 26,

    

December 27,

  
   

2015

    

2014

  
   

(in thousands, except per share amounts)

  
                 
                 

Stock Options

   $ 250     $ 284  

Stock purchase plan

     92       147  

Restricted stock issued to an employee

     1       1  

Total share-based compensation

   $ 343     $ 432  
                 

The above compensation is net of tax benefits

   $ 175     $ 92  

The Company anticipates that share-based compensation will not exceed $1.8 million net of tax benefits for the fiscal year ending September 24, 2016.


The Company did not grant any stock options during the 2016 and 2015 three month period.


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.