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STOCK-BASED COMPENSATION AND BENEFIT PLANS (Tables) | 12 Months Ended
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Jun. 29, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions | The grant date fair value for the awards granted during fiscal year 2023, were estimated using the Black Scholes option valuation method with the following weighted average assumptions as of July 29, 2022:
| Fiscal Year 2023
| July 29, 2022
Expected dividend yield | —%
Risk-free interest rate | 3.01%
Expected volatility | 48.56%
Expected life | 4.00
On August 9, 2021, the Compa ny granted 165,000 SARs under the 2010 Incentive Plan to certain key employees and outside directors at a strike price of $7.17 and a grant date fair value of $2.73. As of June 29, 2024, 136,250 remain outstanding. The grant date fair value for the awards granted during fiscal year 2022, were estimated using the Black Scho les option valuation method with the following weighted average assumptions as of August 9, 2021:
| Fiscal Year 2022
| August 9, 2021
Expected dividend yield | —%
Risk-free interest rate | 0.62%
Expected volatility | 48.58%
Expected life | 4.00
Schedule of SARs Activity | The following table summarizes the Company’s SARs activity from July 3, 2021 through June 29, 2024:
| SARs Available For Grant | SARs Outstanding | Aggregate Intrinsic Value (in thousands) | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (in years) |
Balances, July 3, 2021 | 688,084 |  | 791,250 |  |  | $ | 7.15 |  | 1.9 |
SARs granted | (165,000) |  | 165,000 |  |  | $ | 7.17 |  |  |
SARs expired | 197,500 |  | (197,500) |  |  | $ | 8.17 |  |  |
Balances, July 2, 2022 | 720,584 |  | 758,750 |  | $ | — |  | $ | 6.89 |  | 2.1 |
SARs granted | (145,000) |  | 145,000 |  |  | $ | 5.10 |  |  |
SARs forfeited | 90,000 |  | (90,000) |  |  | $ | 6.55 |  |  |
SARs expired | 187,500 |  | (187,500) |  |  | $ | 7.26 |  |  |
Balances, July 1, 2023 | 853,084 |  | 626,250 |  | $ | — |  | $ | 6.41 |  | 2.2 |
SARs forfeited | 137,500 |  | (137,500) |  |  | $ | 6.90 |  |  |
SARs expired | 101,250 |  | (101,250) |  |  | $ | 8.17 |  |  |
Balances, June 29, 2024 | 1,091,834 |  | 387,500 |  | $ | — |  | $ | 5.78 |  | 1.8 |
Exercisable at June 29, 2024 |  | 115,000 |  | $ | — |  | $ | 4.93 |  | 0.1 |

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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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