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Benefit plans and stock-based compensation (Tables) | 12 Months Ended
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Mar. 30, 2024
Summary of Status of Stock Options | A summary of the status of Birks’ stock options at March 30, 2024 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 |  |  |  | 1.5 |  |  | $ | 0.78 |  |  |  | 20,000 |  |  | $ | 0.78 |
$1.43 |  |  | 12,000 |  |  |  | 2.6 |  |  |  | 1.43 |  |  |  | 12,000 |  |  |  | 1.43 |
|  |  | 32,000 |  |  |  | 1.9 |  |  | $ | 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 30, 2024 is presented below:
|  | DSU |
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 |
Grants of new units |  |  | 70,000 |
Exercised |  |  | (8,896 | )
Outstanding March 30, 2024 |  |  | 96,688 |
The fair value of cash - settled DSUs is measured based on the Company’s share price at each period end. As at March 30, 2024, the liability for all cash - settled DSU’s was $0.4 million (March 25, 2023 – $0.4 million and March 26, 2022 – nil). The closing stock price used to determine the liability for fiscal 2024 was $3.34 ($8.18 as at March 26, 2023). Total compensation cost (gain) for DSUs recognized in expense was ($0.3) million, $0.4 million, and $1.5 million in fiscal 2024, 2023, and 2022 , respectively .
|  | RSU |
Outstanding March 27, 2021 |  |  | 375,000 |
Converted to equity-settled awards |  |  | (325,000 | )
Outstanding March 26, 2022 |  |  | 50,000 |
Exercised |  |  | — |
Outstanding March 25, 2023 |  |  | 50,000 |
Exercised |  |  | (50,000 | )
Outstanding March 30, 2024 |  |  | — |
The fair value of cash - settled RSUs is measured based on the Company’s share price at each period end. As at March 30, 2024, the liability for all vested cash - settled RSUs was nil (March 25, 2023 - $0.5 million and March 26, 2022 - $0.2 million). The closing stock price used to determine the liability was $8.18 for fiscal 2023 and $5.12 for fiscal 2022. Total compensation cost (gain) for cash-settled RSU’s recognized in expense was $(0.2) million, $0.3 million, and $0.8 million in fiscal 2024, 2023, and 2022 , respectively. Total compensation cost for equity-settled RSU’s recognized in expense was $0.03 million, $0.5 million, and $0.2 million in fiscal 2024, 2023, and 2022 , respectively . A summary of the status of the Company’s equity-settled DSUs at March 30, 2024 is presented below:
|  | DSU |
Outstanding March 25, 2023 and March 26, 2022 |  |  | 750,482 |
Exercised |  |  | (10,000 | )
Outstanding March 30, 2024 |  |  | 740,482 |
A summary of the status of the Company’s equity-settled RSUs at March 30, 2024 is presented below:
|  | RSU |
Outstanding March 26, 2022 and March 25, 2023 |  |  | 325,000 |
Exercised |  |  | (325,000 | )
Outstanding March 30, 2024 |  |  | — |
The equity - settled RSUs and DSUs are recorded at fair value at grant or modification date and not subsequently re-measured.
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 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 |
Exercised |  |  | — |  |  |  | — |
Forfeited |  |  | — |  |  |  | — |
Outstanding March 30, 2024 |  |  | 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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