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Benefit plans and stock-based compensation (Tables) | 12 Months Ended
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Mar. 25, 2023
Statement [Line Items] |
Summary of Status of Stock Options | A summary of the status of Birks’ stock options at March 25, 2023 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 |  |  | 20,000 |  |  |  | 2.5 |  |  | $ | 0.78 |  |  |  | 20,000 |  |  | $ | 0.78 |
$1.43 |  |  | 12,000 |  |  |  | 3.6 |  |  |  | 1.43 |  |  |  | 12,000 |  |  |  | 1.43 |
|  |  | 32,000 |  |  |  | 2.9 |  |  | $ | 1.02 |  |  |  | 32,000 |  |  | $ | 1.02 |
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 25, 2023 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 25, 2023, the liability for all cash settled DSU’s was $0.4 million (March 26, 2022—nil, March 27, 2021—$3.1 million). The closing stock price used to determine the liability for fiscal 2023 was $8.18. Total compensation cost (gain) for DSUs recognized in expense was $0.4 million, $1.5 million, and $3.0 million in fiscal 2023, 2022, and 2021.
|  | DSU |
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 |  |  | — |
Grants of new units |  |  | 35,584 |
Outstanding March 25, 2023 |  |  | 35,584 |
The fair value of cash settled DSUs is measured based on the Company’s share price at each period end. As at March 25, 2023, the liability for all cash settled DSU’s was $0.4 million (March 26, 2022— nil, March 27, 2021—$3.1 million). The closing stock price used to determine the liability for fiscal 2023 was $8.18. Total compensation cost (gain) for DSUs recognized in expense was $0.4 million, $1.5 million, and $3.0 million in fiscal 2023, 2022, and 2021.
|  | RSU |
Outstanding March 28, 2020 |  |  | — |
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 |
Grants of new units |  |  | — |
Outstanding March 25, 2023 |  |  | 50,000 |
A summary of the status of the Company’s equity-settled deferred share units at March 25, 2023 is presented below:
|  | DSU |
Outstanding March 27, 2021 |  |  | — |
Converted from cash-settled awards |  |  | 750,482 |
Outstanding March 26, 2022 and March 25, 2023 |  |  | 750,482 |
A summary of the status of the Company’s equity-settled restricted share units at March 25, 2023 is presented below:
|  | RSU |
Outstanding March 27, 2021 |  |  | — |
Converted from cash-settled awards |  |  | 325,000 |
Outstanding March 26, 2022 and March 25, 2023 |  |  | 325,000 |
Birks Stock Option Plan [Member] |
Statement [Line Items] |
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 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 |
Exercised |  |  | (225,000 | ) |  |  | 1.10 |
Forfeited |  |  | — |  |  |  | — |
Outstanding March 25, 2023 |  |  | 32,000 |  |  | $ | 1.02 |

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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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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