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STOCK OPTION PLANS
 6 Months Ended
Mar. 31, 2012
Stock Option Plans  
STOCK OPTION PLANS

(7) STOCK OPTION PLANS:

 

We have one stock option plan under which qualified stock options may be granted to our officers and other employees. Under this plan, the exercise price for the qualified stock options must be no less than 100% of the fair market value of the Company’s Common Stock on the date the options are granted. In general, options granted under our stock option plan expire after a five (5) year period and generally vest no later than one (1) year from the date of grant. As of March 31, 2012, no options to acquire shares were outstanding. Under this plan, options to acquire an aggregate of 45,000 shares are available for grant.

 

There was no stock option activity during the twenty six weeks ended March 31, 2012, nor was there stock option activity during the twenty six weeks ended April 2, 2011.