Company: JOUT
Filing Date: 2025-12-12
Form Type: 10-K
Source: 0001140361-25-045348
Chunk: 85

Company: JOHNSON OUTDOORS INC
Filing Date: 2025-12-12
Form: 10-K
Item: Item 15
Chunk 85
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 Non-Vested Stock All outstanding shares of non-vested stock awarded by the Company have been granted at their fair market value on the date of grant and vest within five years after the grant date.  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 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 shares traded.A summary of non-vested stock activity for the two year period ended October 3, 2025 related to the Company’s stock ownership plans is as follows:

F-27

 SharesWeighted AverageGrant PriceNon-vested stock at September 29, 202361,242 $66.48 Non-vested stock grants38,868 48.70 Non-vested stock vested(36,484)58.85 Restricted stock forfeited(7,237)62.36 Non-vested stock at September 27, 202456,389 59.69 Non-vested stock grants67,312 30.20 Non-vested stock vested(27,117)52.73 Restricted stock forfeited(3,690)54.20 Non-vested stock October 3, 202592,894 40.56 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 2,417 and 7,744 during 2025 and 2024, respectively.  The fair value of restricted stock vested during 2025, 2024 and 2023 was approximately $803, $1,562 and $909, respectively.Stock compensation expense, net of forfeitures, related to non-vested stock was $1,739, $1,690 and $1,612 during 2025, 2024 and 2023, respectively.  The tax benefit recognized during 2025, 2024 and 2023 related to stock based compensation was $422, $410 and $390, respectively.  Unrecognized compensation cost related to non-vested stock as of October 3,