Company: JOUT
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001140361-25-017047
Chunk: 8

Company: JOHNSON OUTDOORS INC
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 8
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 made under the Company's 2012 Non-Employee Director Stock Ownership Plan, which no longer allow for additional share grants, also remain outstanding.   Non-vested StockAll shares of non-vested restricted stock awarded by the Company have been granted in the form of shares of Class A common stock at their fair market value on the date of grant and vest within one year from the date of grant for stock granted to directors and within a period ranging from one to four years from the date of grant for stock granted to officers and employees, based on the terms of the agreement with such officer or employee.  The fair value at date of grant is based on the number of shares granted and the average of the Company’s high and low Class A common stock price on the date of grant or, if the Company’s Class A shares did not trade on the date of grant, the average of the Company’s high and low Class A common stock price on the last preceding date on which the Company’s Class A shares traded.

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IndexJOHNSON OUTDOORS INC.

A summary of non-vested stock activity for the six months ended March 28, 2025 related to the Company’s stock ownership plans is as follows: SharesWeighted AverageGrant PriceNon-vested stock at September 27, 202456,389 $59.69 Non-vested stock grants67,312 30.20 Restricted stock vested(24,357)54.60 Forfeitures(3,690)54.20 Non-vested stock at March 28, 202595,654 40.44  Non-vested stock grantees may elect to reimburse the Company for withholding taxes due as a result of the vesting of shares by tendering a portion of the vested shares back to the Company.  Shares tendered back to the Company were 1,609 and 2,330 during the six month periods ended March 28, 2025 and March 29, 2024, respectively.Stock compensation expense, net of forfeitures, related to non-vested stock was $462 and $322 for the three month periods ended March 28, 2025 and March 29, 2024, respectively, and $816 and $750 for the six month periods ended March 28, 2025 and March 29, 2024, respectively.  Unrecognized compensation cost related to non-vested stock as