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Stock-Based Compensation and Stock Ownership Plans
 9 Months Ended
Jul. 01, 2011
Stock-Based Compensation and Stock Ownership Plans  
Stock-Based Compensation and Stock Ownership Plans
4         Stock-Based Compensation and Stock Ownership Plans

The Company's current stock ownership plans allow for issuance of options to acquire shares of Class A common stock by key executives and non-employee directors. Current plans also allow for issuance of shares of restricted stock or stock appreciation rights in lieu of stock options. At the March 2, 2010 Annual Shareholder Meeting, the Company's shareholders approved the Johnson Outdoors Inc. 2010 Long-Term Stock Incentive Plan (the "2010 Plan") which provides for issuance of up to 1,000,000 shares of Class A common stock pursuant to the terms of the 2010 Plan.
 
Under the Company's 2010 Plan and the 2003 Non-Employee Director Stock Ownership Plan there were 910,061 shares of the Company's Class A common stock available for grant to key executives and non-employee directors as awards under these plans at July 1, 2011.
 
Stock Options
All stock options have been granted at a price not less than fair market value at the date of grant and become exercisable over periods of one to three years from the date of grant. Stock options generally have a term of 10 years.
 
All of the Company's stock options outstanding are fully vested, with no further compensation expense to be recorded. There were no grants of stock options during the three and nine month periods ended July 1, 2011.
 
A summary of stock option activity related to the Company's plans, including the 2010 Plan and the Johnson Outdoors Inc. 2000 Long-Term Stock Incentive Plan (the "2000 Plan") is shown below.  Although no future awards or grants can be made under the 2000 Plan, any outstanding awards made under the 2000 Plan remain outstanding in accordance with the terms of the 2000 Plan and the related grant agreements.
                         
   
Shares
    
Weighted
Average
Exercise
 Price
    
Weighted
Average
Remaining
Contractual
Term (Years)
    
Aggregate
Intrinsic 
Value
  
Outstanding and exercisable at October 1, 2010
     113,704     $ 8.57       1.4     $ 551  
Granted
     -       -               -  
Exercised
     (37,000 )     5.62               302  
Cancelled
     (4,334 )     6.28               49  
Outstanding and exercisable at July 1, 2011
     72,370     $ 10.22       1.3     $ 541  
 
The aggregate intrinsic value in the preceding table represents the total pretax intrinsic value, based on the Company's closing stock price of $17.98 as of July 1, 2011, which would have been received by the option holders had those option holders exercised their stock options as of that date.
 
Non-vested Stock
All shares of non-vested stock awarded by the Company have been granted at their fair market value on the date of grant and vest either immediately or in three to five years after the grant date.
 
The Company granted 39,268 shares of non-vested stock with a total grant date fair value of $600 during the three month period ended July 1, 2011.  There were no grants of non-vested stock during the three month period ended July 2, 2010. Grants of non-vested stock were 161,825 shares and 230,650 shares with a total grant date fair value of $2,224 and $2,209 for the nine month periods ended July 1, 2011 and July 2, 2010, respectively. The fair value at date of grant is based on the number of shares granted and the average of the Company's high and low stock price on the date of grant or, if the Company's shares did not trade on the date of grant, the average of the Company's high and low Class A common stock price on the last preceding date on which the Company's shares traded.  Notwithstanding the adoption of the 2010 Plan, the outstanding awards of non-vested stock made under the 2000 Plan remain outstanding in accordance with the terms of the 2000 Plan and the related grant agreements. However, no future awards or grants can be made under the 2000 Plan.
 
Stock compensation expense related to non-vested stock was $341 and $229 during the three month periods ended July 1, 2011 and July 2, 2010, respectively, and $1,060 and $725 for the nine month periods ended July 1, 2011 and July 2, 2010, respectively.
 
Non-vested stock issued and outstanding as of July 1, 2011 totaled 472,761 shares, having a gross unamortized value of $3,268, which will be amortized to expense through November 2015 or adjusted for changes in future estimated or actual forfeitures.
 
Non-vested stock grantees may elect to reimburse the Company for withholding taxes due as a result of the vesting of non-vested shares by tendering a portion of the vested shares back to the Company. No shares were tendered back to the Company during the three and nine month periods ended July 1, 2011 and July 2, 2010.
 
A summary of non-vested stock activity for the nine months ended July 1, 2011 related to the Company's stock ownership plans is as follows:
             
         
Weighted Average
  
   
Shares
    
Grant Price
  
Non-vested stock at October 1, 2010
     325,172     $ 10.99  
Non-vested stock grants
     161,825     $ 13.74  
Non-vested stock cancelled
     (4,466 )   $ 9.12  
Restricted stock vested
     (9,770 )   $ 15.35  
Non-vested stock at July 1, 2011
     472,761     $ 11.86  

Employees' Stock Purchase Plan
The Company's shareholders have adopted the Johnson Outdoors Inc. 2009 Employees' Stock Purchase Plan.  The Employees' Stock Purchase Plan provides for the issuance of shares of Class A common stock at a purchase price of not less than 85% of the fair market value of such shares on the date of grant or at the end of the offering period, whichever is lower. The Company issued 5,475 shares under the Employees' Stock Purchase Plan and recognized $16 of expense in connection with the plan during the three and nine month periods ended July 1, 2011. The Company issued 10,448 shares of Class A common stock under the Employees' Stock Purchase Plan on May 31, 2010 and recognized expense under the Purchase Plan of $24 during the three and nine month periods ended July 2, 2010.