Related Party Transaction

6 Months Ended

Dec. 26, 2019

Note 13 – Related Party Transaction

In connection with the Acquisition in the second quarter of fiscal 2018, we incurred $11,500

of unsecured debt (the “Promissory Note”) to the principal owner and seller of the Squirrel Brand business, who was subsequently appointed as an executive officer of the Company and was considered a related party. Late in the second quarter of fiscal 2020, the employment of this executive officer with the Company ceased. He is no longer considered a related party, and therefore the outstanding balance on the Promissory Note is not reflected as related party debt on our Consolidated Balance Sheet as of December 26, 2019. Interest paid on the Promissory Note for the quarter and

twenty-six

weeks ended December 26, 2019 while the executive officer was still a related party

was $57 and $127

, respectively, and is reflected as related party interest on our Consolidated Statements of Comprehensive Income.