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Note 5

3 Months Ended

Dec. 28, 2019

Share-based Payment Arrangement [Text Block]

Note 5

At December 28, 2019, the Company has three stock-based employee compensation plans. Share-based compensation expense was recognized as follows:

	December 28,		December 29,
	2019		2018
	(in thousands, except per share amounts)


Stock Options	$	965	$	629
Stock purchase plan		202		69
Total share-based compensation	$	1,167	$	698

The above compensation is net of tax benefits	$	132	$	274

The fair value of each option grant is estimated on the date of grant using the Black-Scholes options-pricing model.

The Company did not grant any stock options during the fiscal year 2020 three month period.

During the fiscal year 2019 three month period, the Company granted 1,000 stock options. The weighted-average grant date fair value of these options was $27.09

Expected volatility is based on the historical volatility of the price of our common shares over the past 51 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.