Company: JOUT
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001140361-25-028318
Chunk: 11

Company: JOHNSON OUTDOORS INC
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 8
Chunk 11
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, which was most recently amended on March 2, 2017, but was terminated effective as of May 9, 2025.  Prior to termination, this plan provided for the issuance of shares of Class A common stock at a purchase price of not less than 85% of the fair market value of such shares on the date of grant or on the date of purchase, whichever is lower.

During the three month period ended June 27, 2025, the Company issued 6,203 shares of Class A common stock and recognized $86 of income in connection with the Employees' Stock Purchase Plan.  During the nine month period ended June 27, 2025, the Company issued 6,203 shares of Class A common stock and recognized $79 of expense in connection with the Employees' Stock Purchase Plan.  During the three month period ended June 28, 2024, the Company issued 4,937 shares of Class A common stock and recognized $25 of expense in connection with this plan.  During the nine month period ended June 28, 2024, the Company issued 4,937 shares of Class A common stock and recognized $83 of expense in connection with this plan. 

5    LEASES

The Company leases certain facilities and machinery and equipment under long-term, non-cancelable operating leases.  The Company determines if an arrangement is a lease at inception.  As of June 27, 2025, the Company had approximately 150 leases, with remaining terms ranging from less than one year to 14 years.  Some of the leases contain variable payment terms, such as payments based on fluctuations in the Consumer Price Index (CPI).  Some leases also contain options to extend or terminate the lease.  To the extent the Company is reasonably certain to exercise these options, they have been considered in the calculation of the right-of-use ("ROU") assets and lease liabilities.  Under current lease agreements, there are no residual value guarantees or restrictive lease covenants.  In calculating the ROU assets and lease liabilities, several assumptions and judgments were made by the Company, including whether a contract is or contains a lease under the applicable definition, and the determination of the discount rate, which is assumed to be the incremental borrowing rate.  The incremental borrowing rate is derived from information available to the Company at the lease commencement date based on lease length and location.  The components of lease expense recognized in the accompanying Condensed Consolidated Statements of Operations for the three and