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Note L - Share-based Compensation | 6 Months Ended
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Sep. 24, 2017
Notes to Financial Statements |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE L – SHARE-BASED COMPENSATION Total share-based compensation during the thirteen -week periods ended September 24, 2017 and September 25, 2016 was $100,000 and $173,000, respectively. Total share-based compensation during the twenty-six week periods ended September 24, 2017 and September 25, 2016 was $199,000 and $346,000, respectively. Total share-based compensation is included in general and administrative expense in our accompanying Consolidated Statements of Earnings. As of September 24, 2017, there was $300,000 of unamortized compensation expense related to share-based incentive awards. We expect to recognize this expense over approximately ten months, which represents the weighted average remaining requisite service periods for such awards. There were no new share-based awards granted during the twenty-six week period ended September 24, 2017. The Company recognizes compensation cost for unvested stock-based incentive awards on a straight-line basis over the requisite service period. Compensation cost charged to expense under all stock-based incentive awards is as follows (in thousands):
|  | Thirteen weeks ended |  |  | Twenty-six weeks ended |
|  | September 24, 2017 |  |  | September 25, 2016 |  |  | September 24, 2017 |  |  | September 25, 2016 |
Stock options |  | $ | 38 |  |  | $ | 38 |  |  | $ | 76 |  |  | $ | 76 |
Restricted stock |  |  | 62 |  |  |  | 135 |  |  |  | 123 |  |  |  | 270 |
Total compensation cost |  | $ | 100 |  |  | $ | 173 |  |  | $ | 199 |  |  | $ | 346 |
Stock options outstanding: During the fiscal year ended March 29, 2015, the Company granted options to purchase 50,000 shares at an exercise price of $53.89 per share, all of which expire five years from the date of grant. All such stock options vest ratably over a four -year period which commenced August 6, 2015 . In connection with the Company ’s special cash dividend, paid on March 27, 2015, to stockholders of record as of March 20, 2015, the Company performed an analysis, pursuant to the anti-dilution provisions of the Company’s 2010 Stock Incentive Plan, and issued replacement options to purchase 75,745 shares at an exercise price of $35.576 for the unvested stock options that were outstanding as of March 29, 2015. Nathan’s performed its evaluation based on the closing price of its common stock on Friday, March 27, 2015 of $73.56 per share, or $48.56 per share excluding the dividend of $25.00 per share. No other terms or conditions of the outstanding options were modified. The anti-dilution provisions of the original award were structured to equalize the award’s fair value before and after the modification. Transactions with respect to stock options for the twenty-six weeks ended September 24, 2017 are as follows:
|  |  |  |  |  | Weighted- |  |  | Weighted- |  |  | Aggregate |
|  |  |  |  |  | Average |  |  | Average |  |  | Intrinsic |
|  |  |  |  |  | Exercise |  |  | Remaining |  |  | Value |
|  | Shares |  |  | Price |  |  | Contractual Life |  |  | (in thousands) |
Options outstanding at the beginning of the fiscal year (A) |  |  | 75,745 |  |  | $ | 35.58 |  |  |  | 2.36 |  |  | $ | 1,899 |
Granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Expired |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Exercised |  |  | (11,361 | ) |  | $ | 35.58 |  |  |  | - |  |  | $ | 379 |
Options outstanding at September 24, 2017 |  |  | 64,384 |  |  | $ | 35.58 |  |  |  | 1.86 |  |  | $ | 2,306 |
Options exercisable at September 24, 2017 |  |  | 45,444 |  |  | $ | 35.58 |  |  |  | 1.86 |  |  | $ | 1,628 |
| A- | Represents outstanding options after giving effect to the replacement options issued in connection with the Company ’s special dividend.
Restricted stock: Transactions with respect to restricted stock for the twenty-six weeks ended September 24, 2017 are as follows:
|  |  |  |  |  | Weighted- |
|  |  |  |  |  | Average |
|  |  |  |  |  | Grant-date |
|  |  |  |  |  | Fair value |
|  | Shares |  |  | Per share |
Unvested restricted stock at March 26, 2017 |  |  | 10,000 |  |  | $ | 49.80 |
Granted |  |  | - |  |  |  | - |
Vested |  |  | (5,000 | ) |  | $ | 49.80 |
Unvested restricted stock at September 24, 2017 |  |  | 5,000 |  |  | $ | 49.80 |

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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