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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Apr. 28, 2019

Summary of Stock Option Activity

The following tables summarize stock option activity during fiscal 2019, 2018, and 2017:

		2019								2018								2017
		Shares				Weighted- Average Exercise Price				Shares				Weighted- Average Exercise Price				Shares				Weighted- Average Exercise Price
outstanding at beginning of year			—			$	—				15,600			$	7.14				83,600			$	8.37
granted			—				—				—				—				—				—
exercised			—				—				(15,600	)			7.14				(68,000	)			8.65
canceled/expired			—				—				—				—				—				—
outstanding at end of year			—				—				—				—				15,600				7.14

Summary of Time Vested Restricted Stock Activity

The following table summarizes the time-based restricted stock activity during fiscal years 2019, 2018, and 2017:

			2019 Shares				2018 Shares				2017 Shares
outstanding at beginning of year			1,200				1,200				—
granted			10,000				1,200				1,200
vested			(1,200	)			(1,200	)			—
outstanding at end of year			10,000				1,200				1,200

Summary of Assumptions Used to Determine Fair Value of Performance Based Restricted Stock Units

The following table provides assumptions used to determine the fair market value of the market-based total shareholder return component using the Monte Carlo simulation model on the grant dates of August 2, 2018 and July 13, 2017:

		August 2, 2018				July 13, 2017
Closing price of our common stock		$	24.35			$	32.50
Expected volatility of our common stock			33.5	%			31.0	%
Expected volatility of peer companies			16.0	%			16.5	%
Risk-free interest rate			2.74	%			1.56	%
Dividend yield			1.35	%			1.66	%
Correlation coefficient of peer companies			0.47				0.46

Summary of Grants of Common Stock to Outside Directors

The following table summarizes information related to our grants of common stock to our outside directors during fiscal 2019, 2018, and 2017:

Date of Grant		Common Stock Awarded				(1) Price Per Share				Vesting Period
April 1, 2019			2,948			$	19.18				Immediate
October 1, 2018			3,600			$	23.45				Immediate
October 2, 2017			4,800			$	33.20				Immediate
October 3, 2016			4,800			$	29.80				Immediate

(1) Price per share represents closing price of our common stock on the date of grant.

NEOs and Key Employees [Member]

Summary of Grants of Performance Based Restricted Stock Units

The following table summarizes information related to our grants of performance based restricted stock units associated with NEOs and key employees that were unvested at April 28, 2019:

Date of Grant		(3) Restricted Stock Units Awarded				Price Per Share				Vesting Period
August 2, 2018 (1)			86,599			$	18.51	(4)			3 years
August 2, 2018 (2)			47,800			$	24.35	(6)			3 years
July 13, 2017 (1)			78,195			$	31.85	(5)			3 years
July 13, 2017 (2)			44,000			$	32.50	(6)			3 years
July 14, 2016 (1) (2)			107,880			$	28.00	(6)			3 years

(1) Performance-based restricted stock units awarded to NEOs.

(2) Performance-based restricted stock units awarded to key employees.

(3) Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreements.

(4) Price per share represents the fair market value per share ($0.76 per $1 or a reduction of $5.84 to the closing price of the our common stock) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($24.35) for the performance-based components of the performance-based restricted stock units granted to our NEOs on August 2, 2018.

(5) Price per share represents the fair market value per share ($0.98 per $1 or a reduction of $0.65 to the closing price of the our common stock) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($32.50) for the performance-based components of the performance-based restricted stock units granted to our NEOs on July 13, 2017.

(6) Price per share represents the closing price of our common stock on the date of grant.

Non-employee [Member]

Summary of Grants of Performance Based Restricted Stock Units

Date of Grant		(1) Restricted Stock Units Awarded				Price Per Share				Vesting Period
July 14, 2016			11,549			$	20.74	(2)			3 years

(1) Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreement.

(2) The respective grant was unvested at the end of our reporting period. Accordingly, the price per share represents the closing price of our common stock on April 28, 2019, the end of our reporting period. 

Time Vested Restricted Stock Awards [Member] | Management [Member]

Summary of Grants of Time-Based Restricted Stock Awards

The following table summarizes information related to our grants of time-based restricted stock awards associated with certain key members of management during fiscal years 2019, 2018 and 2017:

Date of Grant		Restricted Stock Awarded				(1) Price Per Share				Vesting Period
August 2, 2018			10,000			$	24.35				59 months
July 13, 2017			1,200			$	32.50				11 months
June 14, 2016			1,200			$	28.00				11 months

(1) Price per share represents closing price of our common stock on the date the respective award was granted.

Time Based Restricted Stock Units [Member]

Summary of Vested Restricted Stock Units

The following table summarizes information related to our time-based restricted stock units that vested during the fiscal 2019, 2018, and 2017:

Fiscal Year		Common Stock Shares Vested				(1) Weighted Average Fair Value				(2) Price Per Share
Fiscal 2019			1,200			$	21			$	17.36
Fiscal 2018			1,200			$	37			$	30.90
Fiscal 2017			—				—				—

(1) Dollar amounts are in thousands.

(2) Price per share represents closing price of our common stock on the date the respective award vested.

Performance Based Restricted Stock Unit [Member]

Summary of Vested Restricted Stock Units

The following table summarizes information related to our performance based restricted stock units that vested during the fiscal 2019, 2018, and 2017:

Fiscal Year		Common Stock Shares Vested				(3) Weighted Average Fair Value				Weighted Average Price Per Share
Fiscal 2019 (1)			128,632			$	3,754			$	29.19	(4)
Fiscal 2019 (2)			10,364			$	320			$	30.90	(4)
Fiscal 2018 (1)			102,845			$	3,342			$	32.50	(4)
Fiscal 2018 (2)			16,000			$	520			$	32.50	(4)
Fiscal 2017 (1)			37,192			$	1,066			$	28.66	(4)
Fiscal 2017 (2)			12,000			$	344			$	28.66	(4)

(1) NEOs and key employees.

(2) Non-employee 

(3) Dollar amounts are in thousands. 

(4) The weighted average price per share is derived from the closing prices of our common stock on the dates the respective performance based restricted stock units vested. 

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