v3.26.1
STOCK-BASED COMPENSATION
3 Months Ended
Jun. 27, 2026
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
Restricted Stock Units:
The following table summarizes the non-vested restricted stock units outstanding as of June 27, 2026 (in thousands, except per unit data):
Number
Of
RSUs
Weighted
Average
Grant Date
Fair
Value
Outstanding as of March 28, 2026201,715$81.34 
Granted64,390$77.35 
Vested-$
Forfeited3,901$87.34 
Outstanding as of June 27, 2026262,204$80.27 
Total expense relating to restricted stock units, based on grant date fair value and the achievement criteria, was $2.0 million and $0.9 million in the first quarter of fiscal year 2027 and fiscal year 2026, respectively. As of June 27, 2026, unearned compensation, to be recognized over the grants’ respective service periods, totaled $14.2 million based on estimated achievement levels as of June 27, 2026. If the maximum performance levels were achieved, the unearned compensation could be as much as $16.3 million.
Stock Options: There were no stock option grants for the first three months of fiscal year 2027. The following weighted-average assumptions were used to value options granted during the first three months of fiscal year 2026:
Three Months Ended
June 28,
2025
Risk-Free Interest Rate3.84%
Volatility Factor46.85%
Expected Term (in Years)4.00
Annual Dividend Rate0.00%
The expense related to all stock option awards was $0.1 million in the first three months of fiscal year 2027 and $0.2 million in the first three months of fiscal year 2026.
The following table summarizes the Company’s options as of and for the first three months ended June 27, 2026 (in thousands, except price per option data and years):
Number
Of
Options
Weighted
Average
Exercise
Price Per
Option
Weighted
Average
Remaining
Contractual
Term (in years)
Aggregate
Intrinsic
Value
Outstanding as of March 28, 2026177$72.42 
Granted-$— 
Exercised(15)$64.87 
Forfeited-$
Outstanding as of June 27, 2026162$68.74 4$3,651 
Exercisable as of June 27, 2026118$66.10 4$3,169 
The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company’s closing stock price on the last trading day of the third quarter of fiscal year 2027 and the exercise price, multiplied by the number of in-the-money stock options) that would have been received by the option holders had all holders exercised their options on June 27, 2026. The amount of aggregate intrinsic value will change based on the fair market value of the Company’s common stock.
Total unrecognized compensation cost related to non-vested stock options as of June 27, 2026 was $0.6 million, which is expected to be recognized over a period of [three years]. The aggregate intrinsic value of stock options exercised during the first three months of fiscal year 2027 was $0.4 million. Cash received from the exercise of options in the first three months of fiscal year 2027 was $1.0 million. There were no options exercised in the first three months of fiscal year 2026.