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Stock Option and Purchase Plans | 12 Months Ended
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Jun. 29, 2014
Stock Option and Purchase Plans | Stock Option and Purchase Plans A summary of stock option activity under our stock incentive plan was as follows:
|  | Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value (in thousands) |
Balance at July 3, 2011 |  |  | 297,400 |  |  | $ | 28.32 |  |  |  |  |  |  |  |  |
Granted |  |  | 40,000 |  |  | $ | 26.53 |  |  |  |  |  |  |  |  |
Exercised |  |  | (2,600 | ) |  | $ | 10.92 |  |  |  |  |  |  |  |  |
Expired |  |  | (2,000 | ) |  | $ | 37.58 |  |  |  |  |  |  |  |  |
Balance at July 1, 2012 |  |  | 332,800 |  |  | $ | 28.19 |  |  |  |  |  |  |  |  |
Granted |  |  | 40,000 |  |  | $ | 25.64 |  |  |  |  |  |  |  |  |
Exercised |  |  | (55,845 | ) |  | $ | 13.78 |  |  |  |  |  |  |  |  |
Expired |  |  | (41,500 | ) |  | $ | 52.68 |  |  |  |  |  |  |  |  |
Terminated |  |  | (4,000 | ) |  | $ | 17.59 |  |  |  |  |  |  |  |  |
Balance at June 30, 2013 |  |  | 271,455 |  |  | $ | 27.19 |  |  |  |  |  |  |  |  |
Granted |  |  | 40,000 |  |  | $ | 38.71 |  |  |  |  |  |  |  |  |
Exercised |  |  | (92,256 | ) |  | $ | 29.08 |  |  |  |  |  |  |  |  |
Expired |  |  | (22,500 | ) |  | $ | 58.33 |  |  |  |  |  |  |  |  |
Terminated |  |  | (11,457 | ) |  | $ | 30.61 |  |  |  |  |  |  |  |  |
Balance at June 29, 2014 |  |  | 185,242 |  |  | $ | 24.73 |  |  |  | 6.5 |  |  | $ | 7,655 |
Exercisable as of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 29, 2014 |  |  | 76,699 |  |  | $ | 16.91 |  |  |  | 4.3 |  |  | $ | 3,769 |
June 30, 2013 |  |  | 139,955 |  |  | $ | 29.95 |  |  |  | 4.4 |  |  | $ | 2,104 |
July 1, 2012 |  |  | 192,700 |  |  | $ | 33.69 |  |  |  | 4.5 |  |  | $ | 702 |
Available for grant as of June 29, 2014 |  |  | 126,250 |  |  |  |  |  |  |  |  |  |  |  |  |
Options granted at a price greater than the market value on the date of grant included in the table above were as follows:
|  | 2014 |  |  |  | 2013 |  |  | 2012 |
Shares |  | 40,000 |  |  |  | 40,000 |  |  |  | 40,000 |
Exercise price | $ | 38.71 |  |  | $ | 25.64 |  |  | $ | 26.53 |
A summary of restricted stock activity under our stock incentive plan was as follows:
|  | Shares |  |  | Weighted Average Grant Date Fair Value |
Nonvested Balance at July 3, 2011 |  |  | 38,900 |  |  | $ | 21.19 |
Granted |  |  | 20,000 |  |  | $ | 23.01 |
Vested |  |  | (9,300 | ) |  | $ | 29.00 |
Forfeited |  |  | (200 | ) |  | $ | 23.01 |
Nonvested Balance at July 1, 2012 |  |  | 49,400 |  |  | $ | 20.45 |
Granted |  |  | 24,150 |  |  | $ | 23.69 |
Vested |  |  | (10,400 | ) |  | $ | 15.44 |
Forfeited |  |  | (1,900 | ) |  | $ | 25.49 |
Nonvested Balance at June 30, 2013 |  |  | 61,250 |  |  | $ | 22.42 |
Granted |  |  | 24,950 |  |  | $ | 37.29 |
Vested |  |  | (19,350 | ) |  | $ | 20.40 |
Forfeited |  |  | (3,250 | ) |  | $ | 27.88 |
Nonvested Balance at June 29, 2014 |  |  | 63,600 |  |  | $ | 28.64 |
We have an Employee Stock Purchase Plan to provide substantially all U.S. full-time associates an opportunity to purchase shares of STRATTEC common stock through payroll deductions. A participant may contribute a maximum of $5,200 per calendar year to the plan. On the last day of each month or if such date is not a trading day on the most recent previous trading day, participant account balances are used to purchase shares of our common stock at the average of the highest and lowest reported sales prices of a share of STRATTEC common stock on the NASDAQ Global Market. A total of 100,000 shares may be issued under the plan. Shares issued from treasury stock under the plan totaled 1,181 at an average price of $49.53 during 2014, 2,000 at an average price of $26.88 during 2013 and 2,406 at an average price of $22.17 during 2012. A total of 70,170 shares remain available for purchase under the plan as of June 29, 2014.

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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 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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