4Stock-Based Compensation and Stock Ownership Plans

The Company’s current stock ownership plans allow for issuance of stock 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, restricted stock units or stock appreciation rights in lieu of stock options.

Under the Company’s 2010 Long-Term Stock Incentive Plan and the 2012 Non-Employee Director Stock Ownership Plan (the only two plans where shares remain available for equity incentive awards) there were 595,902 shares of the Company’s Class A common stock available for future grant to key executives and non-employee directors at January 1, 2016.

Stock Options

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 either of the three month periods ended January 1, 2016 or January 2, 2015. As of January 1, 2016, no further stock options were outstanding.

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 Class A 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 Class A shares traded.

A summary of non-vested stock activity for the three months ended January 1, 2016 related to the Company’s stock ownership plans is as follows:



		Weighted Average
	Shares	Grant Price
Non-vested stock at October 2, 2015	214,027	$	21.43
Non-vested stock grants	54,850		24.16
Restricted stock vested	(98,520)		21.48
Non-vested stock at January 1, 2016	170,357		23.62

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 19,973 and 16,915 during the three month periods ended January 1, 2016 and January 2, 2015, respectively.

Stock compensation expense, net of forfeitures, related to non-vested stock was $371 and $403 for the three month periods ended January 1, 2016 and January 2, 2015, respectively. Unrecognized compensation cost related to non-vested stock as of January 1, 2016 was $2,407, which amount will be amortized to expense through November 2019 or adjusted for changes in future estimated or actual forfeitures.

The fair value of restricted stock vested during the three month periods ended January 1, 2016 and January 2, 2015 was $2,349 and $2,346, respectively.

Restricted Stock Units

All restricted stock units awarded by the Company have been granted at their fair market value on the date of grant and vest within one or three years after the grant date. The fair value at date of grant is based on the number of units granted and the average of the Company’s high and low Class A common stock trading price on the date of grant or, if the Company’s Class A shares did not trade on the date of grant, the average of the Company’s high and low Class A common stock trading price on the last preceding date on which the Company’s Class A shares traded. There were 41,722 restricted stock units unvested and outstanding as of January 1, 2016 with a weighted average grant date fair value of $25.78. There were 10,792 restricted stock units unvested and outstanding as of January 2, 2015 with a weighted average grant date fair value of $22.71.

The Company issued 34,386 restricted stock units at a weighted average grant price of $24.16 during the three month period ended January 1, 2016 and 0 restricted stock units during the three month period ended January 2, 2015.

Stock compensation expense, net of forfeitures, related to restricted stock units was $130 for the three months ended January 1, 2016 and $61 for the three months ended January 2, 2015. Unrecognized compensation cost related to non-vested restricted stock units as of January 1, 2016 was $802, which amount will be amortized to expense through November 2018 or adjusted for changes in future estimated or actual forfeitures.

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 either of the three month periods ended January 1, 2016 or January 2, 2015.