Company: JOUT
Filing Date: 2025-02-03
Form Type: 10-Q
Source: 0001140361-25-002853
Chunk: 10

Company: JOHNSON OUTDOORS INC
Filing Date: 2025-02-03
Form: 10-Q
Item: Item 8
Chunk 10
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 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 three months ended December 27, 2024 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 grants28,764 33.14 Restricted stock vested(5,085)88.49 Forfeitures(3,690)54.20 Non-vested stock at December 27, 202476,378 48.03  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 three month periods ended December 27, 2024 and December 29, 2023, respectively.Stock compensation expense, net of forfeitures, related to non-vested stock was $354 and $428 for the three month periods ended December 27, 2024 and December 29, 2023, respectively. Unrecognized compensation cost related to non-vested stock as of December 27, 2024 was $1,951, which amount will be amortized to expense through December 2027 or adjusted for changes in future estimated or actual forfeitures.The fair value of restricted stock vested during the three month periods ended December 27,