Stock-Based Compensation And Stock Ownership Plans

3 Months Ended

Dec. 28, 2012

Stock-Based Compensation And Stock Ownership Plans [Abstract]

Stock-Based Compensation And Stock Ownership Plans

4Stock-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.

Under the Company’s 2010 Long-Term Stock Incentive Plan and the 2003 Non-Employee Director Stock Ownership Plan there were 773,204 shares of the Company’s Class A common stock available for grant to key executives and non-employee directors at December 28, 2012.

Stock Options

All stock options have been granted at a price not less than fair market value at the date of grant and are currently exercisable. 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 month periods ended December 28, 2012 or December 30, 2011.

A summary of stock option activity for the three months ended December 28, 2012 related to the Company’s stock ownership plans is shown below.



	Shares	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Term (Years)
Outstanding and exercisable at September 28, 2012	23,366	$	15.39	$	139	1.6
Exercised	(8,300)		10.35		85	-
Outstanding and exercisable at December 28, 2012	15,066	$	18.16	$	25	2.0

The aggregate intrinsic value in the preceding table represents the total pretax intrinsic value, based on the Company’s closing stock price of $19.98 as of December 28, 2012, which would have been received by the option holders had those option holders exercised their stock options as of that date.

The Company received cash proceeds from stock option exercises totaling $86 and $252 for the three month periods ending December 28, 2012 and December 30, 2011, respectively.

The intrinsic value of the stock received upon exercise of such options at their date of exercise during the three month periods ended December 28, 2012 and December 30, 2011was $171 and $520, respectively.

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 within five years after the grant date. 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 Class A common 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.

A summary of non-vested stock activity for the three months ended December 28, 2012 related to the Company’s stock ownership plans is as follows:



		Weighted Average
	Shares	Grant Price
Non-vested stock at September 28, 2012	493,548	$	11.95
Non-vested stock grants	70,545		20.66
Restricted stock vested	(177,684)		11.43
Non-vested stock at December 28, 2012	386,409	$	13.78

Non-vested stock grantees may elect to reimburse the Company for withholding taxes due as a result of the vesting of shares by tendering a portion of the vested shares back to the Company. Shares tendered back to the Company were 43,464 and 6,105 during the three month periods ended December 28, 2012 and December 30, 2011, respectively.

Stock compensation expense, net of forfeitures, related to non-vested stock was $355 and $375 for the three month periods ended December 28, 2012 and December 30, 2011, respectively. Unrecognized compensation cost related to non-vested stock as of December 28, 2012 was $3,348, which amount will be amortized to expense through November 2016 or adjusted for changes in future estimated or actual forfeitures.

The fair value of restricted stock vested during the three month periods ended December 28, 2012 and December 30, 2011 was $3,628 and $486, respectively.

Employees’ Stock Purchase Plan

The Company’s shareholders have adopted the Johnson Outdoors Inc. 2009 Employees’ Stock Purchase Plan which 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 did not issue any shares under the Employees’ Stock Purchase Plan during the three month periods ended December 28, 2012 and December 30, 2011.

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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