Stock-Based Compensation Plans

9 Months Ended

Mar. 27, 2014

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Note 7 – Stock-Based Compensation Plans

The following is a summary of stock option activity for the first three quarters of fiscal 2014:


Options	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at June 27, 2013		115,250		$	13.68
Activity:
Granted		—			—
Exercised		(42,500	)		12.32
Forfeited		(2,250	)		32.30

Outstanding at March 27, 2014		70,500		$	13.91		2.28	$	624

Exercisable at March 27, 2014		68,625		$	13.87		2.13	$	609

For the thirty-nine weeks ended March 27, 2014, the total intrinsic value of options exercised was $507 and the total cash received was $523. The change in non-vested stock option activity was insignificant during the first three quarters of fiscal 2014.

The following is a summary of restricted stock unit activity for the first three quarters of fiscal 2014:


Restricted Stock Units	Shares			Weighted Average Grant Date Fair Value
Outstanding at June 27, 2013		215,294		$	11.99
Activity:
Granted		68,710			25.32
Vested		(79,196	)		12.74
Forfeited		(3,500	)		12.77

Outstanding at March 27, 2014		201,308		$	16.23

Restricted stock units (“RSUs”) granted to employees and non-employee outside directors vest over a three-year and one-year period, respectively. At March 27, 2014 there are 40,098 RSUs outstanding that are vested but deferred. The non-vested RSUs will vest over a weighted average period of 1.6 years.

The following table summarizes compensation cost charged to earnings for all equity compensation plans for the periods presented:


	For the Quarter Ended				For the Thirty-nine Weeks Ended
	March 27, 2014		March 28, 2013		March 27, 2014		March 28, 2013
Stock-based compensation cost	$	272	$	232	$	833	$	682

As of March 27, 2014, there was $1,822 of total unrecognized compensation cost related to non-vested, share-based compensation arrangements granted under our stock-based compensation plans. We expect to recognize that cost over a weighted average period of 1.6 years.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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