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Benefit plans and stock-based compensation (Tables)

12 Months Ended

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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