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

Company: JOHNSON OUTDOORS INC
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 8
Chunk 10
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 compensation expense previously recognized, due to an expectation that performance conditions wouldn't be met for certain awards. The Company recognized expense of $201 and income of $239 related to RSUs for the three and nine month periods ended June 28, 2024, respectively.  Unrecognized compensation cost related to non-vested RSUs as of June 27, 2025 was $542, which amount will be amortized to expense through September 2027 or adjusted for changes in 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 nine month period ended June 27, 

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IndexJOHNSON OUTDOORS INC.

2025 were canceled so shares tendered back to the Company for this purpose were 0 during the nine month period ended June 27, 2025.  Shares tendered back to the Company for the reimbursement of withholding taxes were 2,331 during the nine month period ended June 28, 2024.The fair value of restricted stock units recognized as a tax deduction during the nine month periods ended June 27, 2025 and June 28, 2024 was $0 and $1,171, 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 previously adopted the Johnson Outdoors Inc. 2009 Employees’ Stock Purchase Plan