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Stock Ownership Plans
 12 Months Ended
Sep. 28, 2025
Share-Based Payment Arrangement [Abstract]  
Stock Ownership Plans STOCK OWNERSHIP PLANS
Total non-cash stock compensation expense is $1.8 million, $1.8 million. and $1.8 million, in 2025, 2024, and 2023, respectively.
At September 28, 2025, we have reserved 496,136 shares of Common Stock for issuance to employees under an incentive and non-statutory stock option and restricted stock plan approved by stockholders.
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)202520242023
Outstanding, beginning of year— — — 
Granted40 — — 
Exercised— — — 
Canceled(8)— — 
Outstanding, end of year32 — — 
Exercisable, end of year32 — — 
Options were valued using the Black Scholes valuation model and the following assumptions:
Expected Volatility58 %
Risk Free Rate4.05 %
Expected Term (in years)2.83 years
The weighted average grant date fair value of options granted during the year was $2.18 and the unrecognized compensation is $0.1 million.
Restricted Common Stock
A summary of restricted Common Stock activity is as follows:
(Thousands of Shares)202520242023
Outstanding, beginning of year219 162 165 
Granted40 93 69 
Vested(97)(35)(62)
Forfeited(19)(1)(10)
Outstanding, end of year143 219 162 
Weighted average grant date fair values of restricted Common Stock are as follows:
(Dollars)202520242023
Outstanding, beginning of year17.74 21.14 21.21 
Granted16.36 9.56 17.87 
Vested24.76 11.79 17.27 
Forfeited14.03 14.24 24.04 
Outstanding, end of year13.62 17.74 21.14 
Total unrecognized compensation expense for unvested restricted Common Stock at September 28, 2025 is $0.5 million, which will be recognized over a weighted average period of 0.9 years.
The total fair value of shares that vested during 2025, 2024 and 2023 were $0.5 million, $0.4 million, and $1.1 million, respectively.
Performance Share Units
During the year, we awarded performance stock units to reward executives that vest based on our performance against predetermined total shareholder return market based targets. A performance share unit represents the right to receive a defined number of ordinary shares after the end of a three-year performance period if the specified performance goals are achieved. The units were valued using the Black-Scholes framework for an asset-or-nothing call option with the following assumptions:
Expected Volatility58 %
Risk Free Rate4.02 %
Expected Term (in years)2.58
The weighted average grant date fair value of options granted during the year was $12.22.
A summary of performance share unit activity is as follows:
(Thousands of Shares)202520242023
Outstanding, beginning of year— — — 
Granted63 — — 
Vested— — — 
Forfeited(13)— — 
Outstanding, end of year50 — — 
Total unrecognized compensation expense for Performance shares at September 28, 2025 is $0.7 million.
Employee Stock Purchase Plans
We have 27,000 shares of Common Stock available for issuance pursuant to our Employee Stock Purchase Plan. We also have 870 shares of Common Stock available for issuance under our Supplemental Employee Stock Purchase Plan. There has been no activity under these plans in 2025, 2024, or 2023.