Stock-Based Compensation Plans

9 Months Ended

Mar. 24, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Note 6 – Stock-Based Compensation Plans

The following is a summary of stock option activity for the first three quarters of fiscal 2016:


Options	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at June 25, 2015		25,000		$	9.80
Activity:
Granted		—			—
Exercised		(15,125	)		10.28
Forfeited		(375	)		16.65

Outstanding at March 24, 2016		9,500		$	8.78		1.90	$	559

Exercisable at March 24, 2016		9,500		$	8.78		1.90	$	559

For the thirty-nine weeks ended March 24, 2016, the total intrinsic value of options exercised was $792 and the total cash received was $155. The change in non-vested stock option activity was insignificant during the first three quarters of fiscal 2016.

The following is a summary of restricted stock unit (“RSU”) activity for the first three quarters of fiscal 2016:


Restricted Stock Units	Shares			Weighted Average Grant Date Fair Value
Outstanding at June 25, 2015		228,668		$	23.96
Activity:
Granted		57,893			55.49
Vested		(47,110	)		19.69
Forfeited		(11,181	)		34.30

Outstanding at March 24, 2016		228,270		$	32.33

At March 24, 2016 there were 58,561 RSUs outstanding that are vested but deferred. The non-vested RSUs will vest over a weighted average period of 1.3 years.

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


	For the Quarter Ended				For the Thirty-nine Weeks Ended
	March 24, 2016		March 26, 2015		March 24, 2016		March 26, 2015
Stock-based compensation expense	$	518	$	526	$	1,810	$	1,405

As of March 24, 2016, there was $3,455 of total unrecognized compensation expense 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 1.3 years.