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

Company: JOHNSON OUTDOORS INC
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 10
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 future estimated or actual forfeitures.    RSU grantees may elect to reimburse the Company for withholding taxes due as a result of the vesting of units and issuance of unrestricted shares of Class A common stock by tendering a portion of such unrestricted shares back to the Company.  Because performance criteria was not met, the RSUs expiring in the six month period ended March 28, 

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IndexJOHNSON OUTDOORS INC.

2025 were canceled so shares tendered back to the Company for this purpose were 0 during the six month period ended March 28, 2025.  Shares tendered back to the Company for the reimbursement of withholding taxes were 2,331 during the six month period ended March 29, 2024.The fair value of restricted stock units recognized as a tax deduction during the six month periods ended March 28, 2025 and March 29, 2024 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, which payout level was increased to 200% of the target award amount for the RSU awards issued to employees for the fiscal 2025 – 2027 performance period.  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 March 28, 2025, the Company issued 0 shares of Class A common stock and recognized $128 of expense in connection with the Employees