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STOCK BASED COMPENSATION PLANS (Tables) | 12 Months Ended
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Jun. 25, 2023
STOCK BASED COMPENSATION PLANS [Abstract] |
Summary of Stock Options | A summary of stock option transactions under all of the Company’s stock option plans and information about fixed-price stock options is as follows:
|  | Fiscal Year Ended |  |  | Fiscal Year Ended |
|  | June 25, 2023 |  |  | June 26, 2022 |  |  | June 25, 2023 |  |  | June 26, 2022 |
|  | Shares |  |  | Shares |  |  | Weighted- Average Exercise Price |  | Weighted- Average Exercise Price |
Outstanding at beginning of year |  |  | 111,750 |  |  |  | 166,750 |  |  | $ | 6.67 |  |  | $ | 5.49 |
Granted |  |  | 40,000 |  |  |  | — |  |  |  | 1.06 |  |  |  | — |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Forfeited/Canceled/Expired |  |  | — |  |  |  | (55,000 | ) |  |  | — |  |  |  | 3.11 |
Outstanding at end of period |  |  | 151,750 |  |  |  | 111,750 |  |  | $ | 5.19 |  |  | $ | 6.67 |
Exercisable at end of period |  |  | 111,750 |  |  |  | 111,750 |  |  | $ | 6.67 |  |  | $ | 6.67 |
Information on Options Outstanding and Options Exercisable | The following table provides information on options outstanding and options exercisable as of June 25, 2023:
|  |  | Options Outstanding |  |  | Options Exercisable |
Range of Exercise Prices |  |  | Options Outstanding at June 25, 2023 |  |  | Weighted-Average Remaining Contractual Life (Years) |  |  | Weighted- Average Exercise Price |  |  | Shares Exercisable at June 25, 2023 |  |  | Weighted- Average Exercise Price |
$ | 1.00 - 1.90 |  |  |  | 40,000 |  |  |  | 9.01 |  |  | $ | 1.06 |  |  |  | — |  |  | $ | — |
$ | 3.31 - 3.95 |  |  |  | 50,000 |  |  |  | 3.01 |  |  | $ | 3.95 |  |  |  | 50,000 |  |  | $ | 3.95 |
$ | 5.51 - 5.74 |  |  |  | 8,664 |  |  |  | 0.02 |  |  | $ | 5.74 |  |  |  | 8,664 |  |  | $ | 5.74 |
$ | 5.95 - 6.25 |  |  |  | 28,800 |  |  |  | 1.01 |  |  | $ | 6.23 |  |  |  | 28,800 |  |  | $ | 6.23 |
$ | 6.26 - 13.11 |  |  |  | 24,286 |  |  |  | 2.02 |  |  | $ | 13.11 |  |  |  | 24,286 |  |  | $ | 13.11 |
|  |  |  |  | 151,750 |  |  |  | 3.88 |  |  | $ | 5.19 |  |  |  | 111,750 |  |  | $ | 6.67 |
Weighted Average Assumptions | The following weighted average assumptions were used for options granted during fiscal 2023:
Fiscal Year Ended |  | June 25, 2023 |
Expected life (in years) |  |  | 5.5 |
Expected volatility |  |  | 79.6% |
Risk-free interest rate |  |  | 2.9% |
Expected forfeiture rate |  |  | 48.8% |
Summary of Restricted Stock Units | A summary of the status of restricted stock units as of June 25, 2023 and June 26, 2022, and changes during the fiscal years then ended is presented below:
|  | June 25, 2023 |  |  | June 26, 2022 |
Unvested at beginning of year |  |  | 885,687 |  |  |  | 545,600 |
Granted during the year |  |  | — |  |  |  | 362,500 |
Vested during the year |  |  | — |  |  |  | — |
Forfeited during the year |  |  | — |  |  |  | (22,413 | )
Unvested at end of year |  |  | 885,687 |  |  |  | 885,687 |

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