Stock-Based Compensation Plans

6 Months Ended

Dec. 26, 2024

Share-Based Payment Arrangement [Abstract]

Note 8 – Stock-Based Compensation Plans

The following is a summary of Restricted Stock Unit (“RSU”) activity for the first twenty-six weeks of fiscal 2025:


Restricted Stock Units	Shares			Weighted Average Grant Date Fair Value
Outstanding at June 27, 2024		147,443		$	73.09
Granted		63,414		$	75.03
Vested (a)		(40,216	)	$	77.20
Forfeited		(598	)	$	76.10
Outstanding at December 26, 2024		170,043		$	72.83

(a)

The number of RSUs vested includes shares that were withheld on behalf of employees to satisfy statutory tax withholding requirements.

At December 26, 2024, there were 31,495 RSUs outstanding that were vested but deferred.

The following is a summary of Performance Stock Unit (“PSU”) activity for the first twenty-six weeks of fiscal 2025:


Performance Stock Units (a)	Shares		Weighted Average Grant Date Fair Value
Outstanding at June 27, 2024		8,031	$	82.99
Granted		10,481	$	72.08
Vested		—	$	—
Forfeited		—	$	—
Outstanding at December 26, 2024		18,512	$	76.81

(a)

The PSUs are presented based on reaching target performance. The PSUs vest approximately 33 months from the grant date, with the number of shares earned (ranging from 0% to 200% of the target award) depending on the extent to which we achieve certain performance metrics. Based on current expectations and performance against these metrics, we expect 24,533 PSUs to be earned and thus vest at the end of the applicable vesting periods. The final number of shares that will eventually be earned and vest (if any) has not yet been determined as of December 26, 2024.

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 26, 2024		December 28, 2023		December 26, 2024		December 28, 2023
Stock-based compensation expense	$	1,716	$	1,383	$	2,651	$	2,130

As of December 26, 2024, there was $7,819 of total unrecognized compensation expense related to non-vested RSUs and PSUs granted under our stock-based compensation plans. We expect to recognize that cost over a weighted average period of 1.7 years.