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Stock-based Compensation (Notes)
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3 Months Ended |
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Sep. 28, 2013
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
| Stock-Based Compensation |
Stock-Based Compensation
On November 11, 2010, the Delta Apparel, Inc. shareholders approved the Delta Apparel, Inc. 2010 Stock Plan ("2010 Stock Plan"). Upon shareholder approval of the 2010 Stock Plan, no 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 and will be granted under the 2010 Stock Plan. The aggregate number of shares of common stock that may be delivered under the 2010 Stock Plan is 500,000 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. We expense stock compensation costs in the cost of sales and selling, general and administrative expense line items of our Condensed Consolidated Statements of Operations over the vesting periods of each grant. Total stock based compensation during the transition period was $0.7 million and $0.6 million during the prior year quarter.
2010 Stock Plan
As of September 28, 2013, there was $1.4 million of total unrecognized compensation cost related to non-vested awards granted under the 2010 Stock Plan. This cost is expected to be recognized over a period of 1.9 years. During the transition period ended September 28, 2013, restricted stock units representing 61,213 shares of our common stock were granted. These restricted stock units are service-based and will vest upon the filing of our Quarterly Report on Form 10-Q for the quarter ending June 27, 2015.
During the transition period ended September 28, 2013, performance stock units representing 61,213 shares of our common stock were granted and are based on the achievement of certain performance criteria for the two-year period ending June 27, 2015, and will vest with the filing of our Quarterly Report on Form 10-Q for the quarter ending June 27, 2015.
Option Plan
All options granted under the Option Plan have vested. As such, no expense was recognized during the transition period or the prior year quarter. During the transition period ended September 28, 2013, vested options representing 16,000 shares of our common stock were exercised, and the shares issued, in accordance with their respective agreements.
Award Plan
All awards granted under the Award Plan have vested and been exercised, and no awards remain outstanding.
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