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SHAREHOLDERS’ EQUITY | 12 Months Ended
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Jul. 26, 2025
Equity [Abstract] |
SHAREHOLDERS’ EQUITY | SHAREHOLDERS’ EQUITY The Company has two classes of common stock. Class A common stock is entitled to one vote per share and to cash dividends as declared 54% greater than those paid on Class B common stock. Class B common stock is entitled to 10 votes per share. Class A and Class B common stock share equally on a per share basis in any distributions in liquidation. Shares of Class B common stock are convertible on a share-for-share basis for Class A common stock at any time. Class B common stock is not transferable except to another holder of Class B common stock or by will or under the laws of intestacy or pursuant to a resolution of the Board of Directors of the Company approving the transfer. As a result of this voting structure, the holders of the Class B common stock control greater than 50% of the total voting power of the shareholders of the Company and control the election of the Board of Directors. The Company has authorized 10,000 shares of preferred stock. No shares have been issued. The Board of Directors is authorized to designate series, preferences, powers and participation of any preferred stock issued. The Company maintains share repurchase programs that comply with Rule 10b5-1 under the Securities Exchange Act of 1934. Repurchases of Village Class A common stock may be made from time to time through a variety of methods, including open market purchases and other negotiated transactions. In September 2019, the Company's Board of Directors authorized an incremental $5,000 share repurchase program, supplementing the existing authorization. The Company made no open market purchases under this repurchase program in fiscal 2025 and $1,854 in fiscal 2024. The Company's share repurchase program had $1,349 remaining at both July 26, 2025 and July 27, 2024. In fiscal 2024, the Company purchased $357 in shares of Class A Common Stock that were surrendered in satisfaction of withholding taxes in connection with the vesting of restricted shares. Village has two share-based compensation plans, which are described below. The compensation cost charged against income for these plans was $3,406 and $3,993 in fiscal 2025 and 2024, respectively. Total income tax benefit recognized in the consolidated statements of operations for share-based compensation arrangements was $859 and $868 in fiscal 2025 and 2024, respectively. On December 16, 2016, the shareholders of the Company approved the Village Super Market, Inc. 2016 Stock Plan (the “2016 Plan”) under which awards of incentive and non-qualified stock options and restricted stock may be made. There are 1,200 shares of Class A common stock authorized for issuance to employees and directors under the 2016 Plan. Terms and conditions of awards are determined by the Board of Directors. Restricted stock awards primarily cliff vest three years from the date of grant. There are 697 shares remaining for future grants under the 2016 Plan. The following table summarizes option activity under all plans for the following years:
| Years ended |  |  |  |
| July 26, 2025 |  | July 27, 2024 |  |
| Shares |  | Weighted-average exercise price |  | Shares |  | Weighted-average exercise price |  |  |  |
Outstanding at beginning of year | 2 |  |  | $ | 25.47 |  |  | 88 |  |  | $ | 28.72 |  |  |  |  |
Exercised | (2) |  |  | 25.47 |  |  | (2) |  |  | 27.71 |  |  |  |  |
Forfeited | — |  |  | — |  |  | (84) |  |  | 28.82 |  |  |  |  |
Outstanding at end of year | — |  |  | $ | — |  |  | 2 |  |  | $ | 25.47 |  |  |  |  |
Options exercisable at end of year | — |  |  | $ | — |  |  | 2 |  |  | $ | 25.47 |  |  |  |  |
The fair value of each option award is estimated on the date of grant using the Black-Scholes Option Pricing Model. The Company uses historical data for similar groups of employees in order to estimate the expected life of options granted. Expected volatility is based on the historical volatility of the Company’s stock for a period of years corresponding to the expected life of the option. The risk-free interest rate is based on the U.S. Treasury yield curve at the time of grant for securities with a maturity period similar to the expected life of the option. The following table summarizes restricted stock activity under all plans for the following years:
| Years ended |  |  |  |
| July 26, 2025 |  | July 27, 2024 |  |
| Shares |  | Weighted-average grant date fair value |  | Shares |  | Weighted-average grant date fair value |  |  |  |
Nonvested at beginning of year | 456 |  |  | $ | 22.98 |  |  | 503 |  |  | $ | 22.90 |  |  |  |  |
Granted | 8 |  |  | 33.04 |  |  | 24 |  |  | 24.42 |  |  |  |  |
Vested | (16) |  |  | 22.90 |  |  | (43) |  |  | 22.90 |  |  |  |  |
Forfeited | (21) |  |  | 22.93 |  |  | (28) |  |  | 22.90 |  |  |  |  |
Nonvested at end of year | 427 |  |  | $ | 23.17 |  |  | 456 |  |  | $ | 22.98 |  |  |  |  |
The total fair value of restricted shares vested during fiscal 2025 and 2024 was $530 and $1,141, respectively. As of July 26, 2025, there was $2,432 of total unrecognized compensation costs related to nonvested restricted stock granted under the above plans. That cost is expected to be recognized over a weighted-average period of 0.7 years. The Company declared and paid cash dividends on common stock as follows:
| Years ended |  |
| July 26, 2025 |  | July 27, 2024 |  |
Per share: |  |  |  |  |
Class A common stock | $ | 1.00 |  |  | $ | 1.00 |  |  |
Class B common stock | 0.65 |  |  | 0.65 |  |  |
Aggregate: |  |  |  |  |
Class A common stock | $ | 10,614 |  |  | $ | 10,609 |  |  |
Class B common stock | 2,694 |  |  | 2,732 |  |  |
| $ | 13,308 |  |  | $ | 13,341 |  |  |

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