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Stock Ownership Plans Level 1 (Notes) | 12 Months Ended
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Sep. 25, 2011
Stock Ownership Plans [Abstract] |
Stock Ownership Plans [Text Block] |
10 | STOCK OWNERSHIP PLANS
Total non-cash stock compensation expense is $1,287,000, $1,974,000 and $3,013,000, in 2011, 2010 and 2009, respectively. At September 25, 2011 we have reserved 5,039,716 shares of Common Stock for issuance to employees under an incentive and nonstatutory stock option and restricted stock plan approved by stockholders. At September 25, 2011, 3,227,375 shares are available for granting of non-qualified stock options or issuance of restricted Common Stock. Stock Options Options are granted at a price equal to the fair market value on the date of the grant and are exercisable, upon vesting, over a ten year period. A summary of stock option activity is as follows:
(Thousands of Shares) | 2011 |  |  | 2010 |  |  | 2009 |
Under option, beginning of year | 940 |  |  | 1,009 |  |  | 263 |
Granted | 1,105 |  |  | — |  |  | 783 |
Exercised | (15 | ) |  | — |  |  | — |
Canceled | (218 | ) |  | (69 | ) |  | (37 | )
Under option, end of year | 1,812 |  |  | 940 |  |  | 1,009 |
Exercisable, end of year | 552 |  |  | 423 |  |  | 191 |
Weighted average prices of stock options are as follows:
(Dollars) | 2011 |  |  | 2010 |  |  | 2009 |
Granted | 2.57 |  |  | — |  |  | 2.07 |
Under option, end of year | 5.07 |  |  | 8.77 |  |  | 9.40 |
The following assumptions were used to estimate the fair value of 2011 and 2009 option awards:
| 2011 |  |  | 2009 |
Volatility (Percent) | 111 |  |  | 105 |
Risk-free interest rate (Percent) | 1.01 |  |  | 2.45 |
Expected term (Years) | 4.7 |  |  | 4.7 |
Estimated fair value (Dollars) | 2.00 |  |  | 1.57 |
A summary of stock options outstanding at September 25, 2011 is as follows:
(Dollars) | Options Outstanding |  |  | Options Exercisable |
Range of Exercise Prices | Number Outstanding |  | Weighted Average Remaining Contractual Life (Years) |  | Weighted Average Exercise Price |  |  | Number Exercisable |  |  | Weighted Average Exercise Price |
1 - 25 | 1,660,600 |  | 8.6 |  | 2.37 |  |  | 399,900 |  |  | 2.07 |
25 - 30 | 68,510 |  | 5.2 |  | 28.72 |  |  | 68,510 |  |  | 28.72 |
30 - 35 | 20,066 |  | 1.2 |  | 32.51 |  |  | 20,066 |  |  | 32.51 |
35 - 40 | 34,760 |  | 3.1 |  | 38.62 |  |  | 34,760 |  |  | 38.62 |
40 - 45 | 14,024 |  | 2.1 |  | 43.27 |  |  | 14,024 |  |  | 43.27 |
45 - 50 | 14,381 |  | 3.2 |  | 47.64 |  |  | 14,381 |  |  | 47.64 |
| 1,812,341 |  | 8.2 |  | 5.07 |  |  | 551,641 |  |  | 11.03 |
Total unrecognized compensation expense for unvested stock options at September 25, 2011 is $1,756,000, which will be recognized over a weighted average period of 1.7 years. Options outstanding and exercisable at September 25, 2011 have no intrinsic value. Restricted Common Stock A summary of restricted Common Stock activity follows:
(Thousands of Shares) | 2011 |  |  | 2010 |  |  | 2009 |
Outstanding, beginning of year | 299 |  |  | 453 |  |  | 746 |
Vested | (297 | ) |  | (143 | ) |  | (114 | )
Forfeited | (2 | ) |  | (11 | ) |  | (179 | )
Outstanding, end of year | — |  |  | 299 |  |  | 453 |
Weighted average grant date fair values of restricted Common Stock are as follows:
(Dollars) | 2011 |  |  | 2010 |  |  | 2009 |
Outstanding, beginning of year | 15.02 |  |  | 19.35 |  |  | 21.60 |
Vested | 15.02 |  |  | 28.73 |  |  | 39.53 |
Forfeited | 15.02 |  |  | 15.02 |  |  | 15.94 |
Outstanding, end of year | — |  |  | 15.02 |  |  | 19.35 |
The fair value of restricted Common Stock vested in 2011, 2010 and 2009, is $723,000, $554,000 and $171,000, respectively. Stock Purchase Plans We have 270,000 shares of Common Stock available for issuance pursuant to our Employee Stock Purchase Plan. We also have 8,700 shares of Common Stock available for issuance under our Supplemental Employee Stock Purchase Plan.

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- Definition The entire disclosure of stock ownership plans for employees and non-employee directors. + References No definition available. + Details
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