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Stock-Based Compensation Plans | 6 Months Ended
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Dec. 28, 2023
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation Plans | Note 9 – Stock-Based Compensation Plans At our annual meeting of stockholders on November 2, 2023, our stockholders approved a new equity incentive plan (the “2023 Omnibus Plan”) under which awards of options and stock-based awards may be made to employees, officers or non-employee directors of our Company. A total of 747,065 shares of Common Stock are authorized for grants of awards thereunder, which may be in the form of options, restricted stock, restricted stock units (“RSUs”), stock appreciation rights (SARs”), performance shares, performance units, Common Stock or dividends and dividend equivalents. The total number of shares of Common Stock with respect to which options or SARs may be granted in any calendar year to any participant may not exceed 500,000 shares (this limit applies separately with respect to each type of award). Additionally, for awards of restricted stock, RSUs, performance shares or other stock-based awards that are intended to qualify as performance-based compensation: (i) the total number of shares of Common Stock that may be granted in any calendar year to any participant may not exceed 250,000 shares (this limit applies separately to each type of award) and (ii) the maximum amount that may be paid to any participant for awards that are payable in cash or property other than Common Stock in any calendar year is $5,000. During the second quarter of fiscal 2024, there were 56,168 RSUs awarded to employees and non-employee members of the Board of Directors. The vesting period is generally three years for awards to employees and one year for awards to non-employee directors. The following is a summary of RSU activity for the first twenty-six weeks of fiscal 2024:
Restricted Stock Units |  | Shares |  |  | Weighted Average Grant Date Fair Value |
Outstanding at June 29, 2023 |  |  | 155,012 |  |  | $ | 67.87 |
Granted (a) |  |  | 56,168 |  |  | $ | 85.55 |
Vested (b) |  |  | (51,707 | ) |  | $ | 72.10 |
Forfeited |  |  | (621 | ) |  | $ | 72.58 |
Outstanding at December 28, 2023 |  |  | 158,852 |  |  | $ | 72.73 |
(a) The number of RSUs granted includ es 8,031 RSUs with per formance conditions for which the performance criteria had yet to be achieved. The final number of shares that will eventually be earned and vest has not yet been determined. (b) The number of RSUs vested includes shares that were withheld on behalf of employees to satisfy statutory tax withholding requirements. At December 28, 2023, there were 26,653 RSUs outstanding that were vested but deferred. The following table summarizes compensation expense charged to earnings for all equity compensation plans for the periods presented:
|  | For the Quarter Ended |  |  | For the Twenty-Six Weeks Ended |
|  | December 28, 2023 |  |  | December 29, 2022 |  |  | December 28, 2023 |  |  | December 29, 2022 |
Stock-based compensation expense |  | $ | 1,383 |  |  | $ | 1,515 |  |  | $ | 2,130 |  |  | $ | 2,287 |
As of December 28, 2023, there was $6,763 of total unrecognized compensation expense related to non-vested RSUs granted under our stock-based compensation plans. We expect to recognize that cost over a weighted average period of 1.7 years.

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