Company: JOUT
Filing Date: 2025-02-03
Form Type: 10-Q
Source: 0001140361-25-002853
Chunk: 12

Company: JOHNSON OUTDOORS INC
Filing Date: 2025-02-03
Form: 10-Q
Item: Item 8
Chunk 12
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2024.  Shares tendered back to the Company for the reimbursement of withholding taxes were and 2,331 during the three month period ended December 29, 2023.

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IndexJOHNSON OUTDOORS INC.

The fair value of restricted stock units recognized as a tax deduction during the three month periods ended December 27, 2024 and December 29, 2023 was $0 and $1,015, respectively. Compensation expense related to units earned by employees (as opposed to grants to outside directors) is based upon the attainment of certain Company financial goals related to cumulative net sales and cumulative operating profit over a three-year performance period.  Awards are only paid if at least 80% of the target levels are met and maximum payouts are made if 120% or more of target levels are achieved.  The payouts for achievement at the threshold levels of performance are equal to 50% of the target award amount.  The payouts for achievement at maximum levels of performance are equal to 150% of the target award amount.  To the extent earned, awards are issued in shares of Company Class A common stock after the end of the three-year performance period.Employees’ Stock Purchase PlanThe Company’s shareholders have adopted the Johnson Outdoors Inc. 2009 Employees’ Stock Purchase Plan, which was most recently amended on March 2, 2017, and which provides 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 December 27, 2024, the Company issued 0 shares of Class A common stock and recognized $38 of income in connection with the Employees' Stock Purchase Plan.  During the three month period ended December 29, 2023, the Company issued 0 shares of Class A common stock and recognized $31 of expense in connection with the 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 December 27, 2024, the Company had approximately 150 leases, with remaining terms ranging from less than one year to 16 years.  Some of the leases contain variable payment terms, such as payments based on fluctuations in the Consumer Price Index (CPI).  Some leases