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Benefit plans and stock-based compensation (Tables) | 12 Months Ended
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Mar. 26, 2022
Summary of Status of Stock Options | A summary of the status of Birks’ stock options at March 26, 2022 is presented below:
|  | Options outstanding |  |  | Options exercisable |
Exercise price |  | Number outstanding |  |  | Weighted average remaining life (years) |  |  | Weighted average exercise price |  |  | Number exercisable |  |  | Weighted average exercise price |
$0.78 |  |  | 135,000 |  |  |  | 3.5 |  |  | $ | 0.78 |  |  |  | 135,000 |  |  | $ | 0.78 |
$1.43 |  |  | 122,000 |  |  |  | 4.6 |  |  |  | 1.43 |  |  |  | 122,000 |  |  |  | 1.43 |
|  |  | 257,000 |  |  |  | 4.0 |  |  | $ | 1.09 |  |  |  | 257,000 |  |  | $ | 1.09 |
Summary of Birks' Restricted Stock Units And Deferred Share Units | A summary of the status of the Company’s cash-settled RSUs and cash settled DSUs at March 26, 2022 is presented below: The fair value of cash settled DSUs is measured based on the Company’s share price at each period end. As at March 26, 2022, the liability for all cash settled DSU’s was nil (March 27, 2021 — $3.1 million). The closing stock price used to determine the liability for fiscal 2021 was $3.62. Total compensation cost (gain) for DSUs recognized in expense was $1.5 million, $3.0 million and nil in fiscal 2022, 2021, and 2020.
|  | DSU |
Outstanding March 30, 2019 |  |  | 257,005 |
Grants of new units |  |  | 244,844 |
Settled in cash |  |  | (36,715 | )
Outstanding March 28, 2020 |  |  | 465,134 |
Grants of new units |  |  | 223,878 |
Outstanding March 27, 2021 |  |  | 689,012 |
Grants of new units |  |  | 61,470 |
Converted to equity-settled awards |  |  | (750,482 | )
Outstanding March 26, 2022 |  |  | — |
The fair value of cash settled RSUs is measured based on the Company’s share price at each period end. As at March 26, 2022, the liability for all vested cash settled RSUs was $0.2 million (March 27, 2021 — $0.3 million). The closing stock price used to determine the liability was $5.12 for fiscal 2022 and $3.62 for fiscal 2021. Total compensation cost for cash-settled RSU’s recognized in expense was $0.8 million, $0.3 million, and nil in fiscal 2022, 2021, and 2020. Total compensation cost for equity-settled RSU’s recognized in expense was $0.2 million, nil, and nil in fiscal 2022, 2021, and 2020. The weighted average remaining contractual life of the unvested cash-settled RSU’s is 1.2 years.
|  | RSU |
Outstanding March 30, 2019 |  |  | 102,000 |
Settled in cash |  |  | (102,000 | )
Outstanding March 28, 2020 |  |  | 0 |
Grants of new units |  |  | 375,000 |
Outstanding March 27, 2021 |  |  | 375,000 |
Converted to equity-settled awards |  |  | (325,000 | )
Outstanding March 26, 2022 |  |  | 50,000 |
A summary of the status of the Company’s equity-settled deferred share units at March 26, 2022 is presented below:
|  | DSU |
Outstanding March 27, 2021 |  |  | — |
Converted from cash-settled awards |  |  | 750,482 |
Outstanding March 26, 2022 |  |  | 750,482 |
A summary of the status of the Company’s equity-settled restricted share units at March 26, 2022 is presented below:
|  | RSU |
Outstanding March 27, 2021 |  |  | — |
Converted from cash-settled awards |  |  | 325,000 |
Outstanding March 26, 2022 |  |  | 325,000 |
Birks Stock Option Plan [Member] |
Summary of Activity of Stock Option Plans and Arrangements | The following is a summary of the activity of Birks’ stock option plans and arrangements.
|  | Options |  |  | Weighted average exercise price |
Outstanding March 30, 2019 |  |  | 741,060 |  |  | $ | 1.13 |
Equity cash-out payment(a) |  |  | (10,000 | ) |  |  | 1.00 |
Forfeited |  |  | (26,242 | ) |  |  | 1.11 |
Outstanding March 28, 2020 |  |  | 704,818 |  |  |  | 1.14 |
Exercised |  |  | (226,853 | ) |  |  | 0.78 |
Forfeited |  |  | (82,818 | ) |  |  | 1.43 |
Outstanding March 27, 2021 |  |  | 395,147 |  |  |  | 1.13 |
Exercised |  |  | (138,147 | ) |  |  | 0.94 |
Forfeited |  |  | — |  |  |  | — |
Outstanding March 26, 2022 |  |  | 257,000 |  |  | $ | 1.09 |
(a) | In connection with its restructuring initiative, the Company offered an equity cash-out payment of $20,000 (USD$16,000) to a former senior executive for 35,000 options under the Long-term incentive plan, 14,000 options under the Omnibus LTIP and 2,400 options under the Birks ESOP.

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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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