Company: JOUT
Filing Date: 2025-12-12
Form Type: 10-K
Source: 0001140361-25-045348
Chunk: 87

Company: JOHNSON OUTDOORS INC
Filing Date: 2025-12-12
Form: 10-K
Item: Item 15
Chunk 87
---
 The tax expense recognized during 2025 and 2024 related to restricted stock unit based compensation was $28 and $43, respectively, and a benefit of $462 was 

F-28

recognized in 2023.  Unrecognized compensation cost related to non-vested restricted stock units as of October 3, 2025 was $482.For the fiscal years covered herein, compensation expense related to units earned by certain employees is based upon the attainment of certain 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% of more of target levels are achieved.  The payouts for achievement at the minimum 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 200% of the target award amount for awards made with respect to the fiscal 2025 - 2027 performance period and 150% for awards made with respect to earlier performance periods.  To the extent earned, awards are issued in shares of Company common stock after the end of the three year performance period.Employees' Stock Purchase Plan The 2009 Employees’ Stock Purchase Plan (the “Purchase Plan”) formerly 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 at the end of the offering period, whichever is lower.  The Company terminated the Purchase Plan effective as of May 9, 2025. The Company issued 6,203, 4,937 and 5,401 shares of Class A common stock under the Purchase Plan during the years 2025, 2024 and 2023, respectively, and recognized expense of $80, $105 and $102 in 2025, 2024 and 2023, respectively.

11    RELATED PARTY TRANSACTIONS

The Company conducts transactions with certain related parties including organizations controlled by the Johnson Family. These transactions include product purchases, aviation services, office rental, and facility fees.  Total costs of these transactions were $1,782, $1,537 and $1,473 for 2025, 2024 and 2023, respectively.  Amounts due to/from related parties were immaterial at October 3, 2025 and September 27, 202