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Stock Options and Incentive Stock Awards
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9 Months Ended |
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Mar. 31, 2012
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
| Disclosure of Compensation Related Costs, Share-based Payments [Text Block] |
Stock Options and Incentive Stock Awards
On November 11, 2010, the shareholders of the Company approved the Delta Apparel, Inc. 2010 Stock Plan (“2010 Stock Plan”). We will not be granting additional awards under either the Delta Apparel Stock Option Plan or the Delta Apparel Incentive Stock Award Plan. Instead, all future stock awards 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 prior plans 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.
Delta Apparel, Inc. 2010 Stock Plan (“2010 Stock Plan”)
For the three and nine months ended March 31, 2012, we expensed $0.1 million and $0.9 million, respectively, in connection with outstanding awards made under the 2010 Stock Plan. As of March 31, 2012 there was $1.5 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 1.4 years. During the quarter ended March 31, 2012, no stock awards were granted under the 2010 Stock Plan.
Delta Apparel Stock Option Plan (“Option Plan”)
We expensed $44 thousand and $43 thousand during the third quarter of fiscal years 2012 and 2011, respectively, in connection with our Option Plan. We expensed $0.1 million in each of the first nine-month periods of fiscal years 2011 and 2012. As of March 31, 2012, there was $43 thousand of total unrecognized compensation cost related to non-vested stock options under the Option Plan, which is expected to be recognized over a period of 0.3 years.
Delta Apparel Incentive Stock Award Plan (“Award Plan”)
All awards granted under the Award Plan have vested and been exercised, and no awards remain outstanding. As such, no expense was recognized during the third quarter of fiscal year 2012. During the third quarter of fiscal year 2011 we expensed $0.5 million in connection with the Award Plan. During the first nine months of fiscal years 2012 and 2011 we expensed $0.1 million and $1.2 million, respectively.
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