On our shareholders re-approved the Delta Apparel, Inc. Stock Plan ( Stock Plan") that was originally approved by our shareholders on The re-approval of the Stock Plan, including the material terms of the performance goals included in the Stock Plan, enabled us to continue to grant equity incentive compensation awards that are structured in a manner intended to qualify as tax deductible, performance-based compensation under Section (m) of the Internal Revenue Code of as applicable.  The New Tax Legislation changed several conclusions under Section (m), including that there will longer be a performance-based compensation exemption, and the Chief Financial Officer position is now included in the applicable calculation along with the next highest-paid officers.  This reform impacted taxes related to fiscal years and

 

Since additional awards have been or will be granted under either the Delta Apparel Stock Option Plan ("Option Plan") or the Delta Apparel Incentive Stock Award Plan ("Award Plan"); instead, all stock awards have been granted under the Stock Plan.

 

We account for these plans pursuant to ASC   Shares are generally issued from treasury stock upon exercise of the options or the vesting of the restricted stock units and performance units.  See Note Accounting Policies (r) Stock-Based Compensation for further detail.

 

Compensation expense is recorded on the selling, general and administrative expense line item in our Consolidated Statements of Operations over the vesting periods.  Total employee stock-based compensation expense for fiscal years and was million and million, respectively. Associated with the compensation cost are income tax benefits recognized of million for both fiscal years and

 

 

Under the Stock Plan, the Compensation Committee of our Board of Directors has the authority to determine the employees and directors to whom awards be granted and the size and type of each award and manner in which such awards will vest.  The awards available consist of stock options, stock appreciation rights, restricted stock, restricted stock units, performance stock, performance units, and other stock and cash awards. The aggregate number of shares of common stock that be delivered under the Stock Plan is plus any shares of common stock subject to outstanding awards under the Option Plan or Award Plan that are subsequently forfeited or terminated for any reason before being exercised.  The Stock Plan limits the number of shares that be covered by awards to any participant in a given calendar year and also limits the aggregate awards of restricted stock, restricted stock units and performance stock granted in any given calendar year.  If a participant dies or becomes disabled (as defined in the Stock Plan) while employed by or serving as a director, all unvested awards become fully vested.  The Compensation Committee is authorized to establish the terms and conditions of awards granted under the Stock Plan, to establish, amend and rescind any rules and regulations relating to the Stock Plan, and to make any other determinations that it deems necessary.

 

 

stock options were granted during fiscal year  During fiscal year remaining stock options, with an exercise price of  per option, expired and were forfeited.

 

 

The following table summarizes the restricted stock unit and performance unit award activity during the periods ended and

 

		Fiscal Year Ended
		September 28, 2019								September 29, 2018
		Number of Units				Weighted average grant date fair value				Number of Units				Weighted average grant date fair value
Units outstanding, beginning of fiscal period			532,500			$	16.12				512,856			$	13.09
Units granted			—				—				205,500			$	20.57
Units issued			(247,000	)		$	11.88				(146,781	)		$	12.89
Units forfeited			(2,000	)		$	21.51				(39,075	)		$	11.88
Units outstanding, end of fiscal period			283,500			$	19.78				532,500			$	16.12

 

During fiscal year restricted stock units and performance units representing and shares of our common stock, respectively, vested upon the filing of our Annual Report on Form -K for the fiscal year ended and were issued in accordance with their respective agreements. All vested awards were paid in common stock.

 

During fiscal year restricted stock units and performance units, each consisting of shares of our common stock, were granted and are eligible to vest upon the filing of our Annual Report on Form -K for the fiscal year ended One-half of the restricted stock units and -half of the performance units are payable in common stock and -half are payable in cash.

 

During fiscal year restricted stock units representing shares of our common stock were granted and are eligible to vest upon the filing of our Annual Report on Form -K for the fiscal year ending These restricted stock units are payable in common stock.

 

During fiscal year restricted stock units and performance units representing and shares of our common stock, respectively, vested upon the filing of our Annual Report on Form -K for the fiscal year ended and were issued in accordance with their respective agreements. One-half of the restricted stock units were paid in common stock and -half in cash. Of the performance units, were paid in common stock and were paid in cash. In addition, restricted stock units and performance units representing shares of our common stock vested and were issued in accordance with their agreement. One-half of the restricted stock units and -half of the performance units were paid in common stock and -half were paid in cash.

 

As of there was million of total unrecognized compensation cost related to unvested restricted stock units and performance units under the Stock Plan. This cost is expected to be recognized over a period of years.

 

The following table summarizes information about the unvested restricted stock units and performance units as of

 

Restricted Stock Units/Performance Units		Number of Units				Average Market Price on Date of Grant		Vesting Date*
Fiscal Year 2017 Performance Units			42,000			$ 17.97		November 2019
Fiscal Year 2017 Performance Units			42,000			$ 17.97		November 2020
Fiscal Year 2018 Restricted Stock Units			52,750			$ 21.51		November 2019
Fiscal Year 2018 Performance Units			52,750			$ 21.51		November 2019
Fiscal Year 2018 Restricted Stock Units			2,000			$ 17.97		November 2019
Fiscal Year 2018 Performance Units			2,000			$ 17.97		November 2019
Fiscal Year 2018 Restricted Stock Units			90,000			$ 19.52		November 2020
			283,500

 

* These awards are eligible to vest upon the filing of our Annual Report on Form -K for the applicable fiscal year, which is anticipated to be during the month and year indicated in this column.

 

 

Prior to expiration of the Option Plan, the Compensation Committee of our Board of Directors had the discretion to grant options for up to shares of common stock to officers and key and middle-level executives for the purchase of our stock at prices less than percent of the fair market value of the shares on the dates of grant, with an exercise term (as determined by the Compensation Committee) to exceed years. The Compensation Committee determined the vesting period for the stock options, which generally became exercisable over to years.  Certain option awards in the Option Plan provided for accelerated vesting upon meeting specific retirement, death or disability criteria.

 

Compensation expense was recorded on the selling, general and administrative expense line item in our Consolidated Statements of Operations on a straight-line basis over the vesting periods.

 

During fiscal year remaining stock options, with an exercise price of per option, expired and were forfeited.