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Note 10 - Stock Ownership Plans
 12 Months Ended
Sep. 29, 2019
Notes to Financial Statements  
Share-based Payment Arrangement [Text Block]
10
    STOCK OWNERSHIP PLANS
 
Total non-cash stock compensation expense is $
1,638,000
, $
1,857,000
 and $
2,088,000
, in
2019,
2018
and
2017
, respectively.
 
At
September 29, 2019
, we have reserved
2,805,000
 shares of Common Stock for issuance to employees under an incentive and nonstatutory stock option and restricted stock plan approved by stockholders of which
1,600,000
 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)
  
2019
    
2018
    
2017
  
                         
Under option, beginning of year
    
1,100
      
1,271
      
1,698
  
Exercised
    
(93
 )    
(131
 )    
(339
 )
Canceled
    
(198
 )    
(40
 )    
(88
 )
Under option, end of year
    
809
      
1,100
      
1,271
  
Exercisable, end of year
    
809
      
1,100
      
1,271
  
 
Weighted average prices of stock options are as follows:
 
 
(Dollars)
  
2019
    
2018
    
2017
  
                         
Exercised
    
2.06
      
1.42
      
1.53
  
Cancelled
    
2.08
      
2.49
      
14.02
  
Under option, end of year
    
1.82
      
1.88
      
1.86
  
 
A summary of stock options outstanding at
September 29, 2019
is as follows:
 
 
(Dollars)
    
Options Outstanding
    
Options Exercisable
  
Range of
    
Number Outstanding (Thousands)
    
Weighted Average Remaining Contractual Life (Years)
    
Weighted Average Exercise Price
    
Number Exercisable (Thousands)
    
Weighted Average Exercise Price
  
                                 
1 - 2    
425
    
2.7
    
1.14
    
425
    
1.14
  
2 - 3    
384
    
1.0
    
2.57
    
384
    
2.57
  
     
809
    
1.9
    
1.82
    
809
    
1.82
  
 
There is
no
unrecognized compensation expense for unvested stock options at
September 29, 2019
.
 
The aggregate intrinsic value of stock options outstanding at
September 29, 2019
is
$
179,000
 
Restricted Common Stock
 
A summary of restricted Common Stock activity follows:
 
 
(Thousands of Shares)
  
2019
    
2018
    
2017
  
                         
Outstanding, beginning of year
    
2,059
      
2,478
      
2,462
  
Granted
    
788
      
587
      
837
  
Vested
    
(1,337
 )    
(936
 )    
(751
 )
Forfeited
    
(33
 )    
(70
 )    
(70
 )
Outstanding, end of year
    
1,477
      
2,059
      
2,478
  
 
Weighted average grant date fair values of restricted Common Stock are as follows:
 
 
(Dollars)
  
2019
    
2018
    
2017
  
                         
Outstanding, beginning of year
    
2.31
      
2.69
      
2.74
  
Granted
    
2.18
      
2.33
      
3.34
  
Vested
    
2.03
      
3.31
      
3.59
  
Forfeited
    
2.13
      
2.85
      
2.98
  
Outstanding, end of year
    
2.49
      
2.31
      
2.69
  
 
Total unrecognized compensation expense for unvested restricted Common Stock at
September 29, 2019
is $
1,350,000
, which will be recognized over a weighted average period of
1.2
 years.
 
In
December
2019
, we expect to issue shares of
724,300
 r
estricted Common Stock to employees. All restrictions with respect to these shares lapse in
December 2022.
 
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. There has been
no
activity under these plans in
2019
,
2018
or
2017
.