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Benefit plans and stock-based compensation (Tables)

12 Months Ended

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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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.

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