RTI is authorized, under its Certificate of Incorporation, to issue up to shares of preferred stock with a par value of These shares be issued from time to time in or more series. Each series will have dividend rates, rights of conversion and redemption, liquidation prices, and other terms or conditions as determined by the Board of Directors. preferred shares have been issued as of and

A committee, appointed by the Board of Directors, administers the Ruby Tuesday, Inc. Stock Incentive Plan (“SIP”) and the Ruby Tuesday, Inc. Stock Incentive Plan ( SIP”), and has full authority in its discretion to determine the key employees, officers, and non-employee directors to whom share-based incentives are granted and the terms and provisions of share-based incentives. Stock option grants under the SIP and SIP can have varying vesting provisions and exercise periods as determined by such committee. A majority of currently outstanding stock options granted under the SIP and SIP vest within years following the date of grant and expire years after the date of grant. The SIP and SIP permit the committee to make awards of shares of common stock, awards of stock options or other derivative securities related to the value of the common stock, and certain cash awards to eligible persons. These discretionary awards be made on an individual basis or for the benefit of a group of eligible persons. All stock options awarded under the SIP and SIP have been awarded with an exercise price equal to the fair market value at the time of grant.

 

At we had reserved a total of shares of common stock for the SIP and SIP. Of the reserved shares at were subject to stock options outstanding. Stock option exercises are settled with the issuance of new shares. Net shares of common stock available for issuance at were

 

The following table summarizes our stock option activity under these stock option plans for the fiscal year ended Stock Options and Aggregate Intrinsic Value are in thousands):

 

 

 

The aggregate intrinsic value represents the closing stock price as of less the strike price, multiplied by the number of stock options that have a strike price that is less than that closing stock price. There were stock options exercised during fiscal years and

 

At there was approximately million of unrecognized pre-tax compensation expense related to non-vested stock options. This cost is expected to be recognized over a weighted average period of years. The total fair value at grant date of awards vested during fiscal years and totaled million, million, and million, respectively.

 

During fiscal year we granted service-based stock options to certain employees under the terms of the SIP.

 

Also during fiscal we granted service-based stock options to our then Interim Chief Executive Officer under the terms of the SIP.

 

The weighted average Black-Scholes grant date fair value for stock options awarded during fiscal years and was and per share, respectively. stock options were awarded during fiscal year The grant date fair values of unvested stock options are amortized over the respective vesting period of the awards unless a recipient becomes retirement eligible during the vesting period. For retirement eligible individuals, the grant date fair value of the award is amortized from the period of the date of grant through the date upon which the individual becomes retirement eligible. The weighted average assumptions used in our Black-Scholes option-pricing model are as follows:

 

 

The following table summarizes our restricted stock and RSU activity for the fiscal year ended in thousands, except per-share data):

 

 

The fair value of restricted stock and RSU awards is based on the closing price of our common stock on the date prior to the grant date. The total intrinsic value of restricted stock and RSU grants vesting during fiscal years and was million, million, and million, respectively. At unrecognized compensation expense related to restricted stock and RSU grants expected to vest totaled million and will be recognized over a weighted average vesting period of years.

 

During fiscal year we granted restricted shares to non-employee directors under the terms of the SIP. These shares cliff vest over a year period following the grant date of the award.

 

During fiscal year we granted RSUs and restricted shares to certain employees under the terms of the SIP and SIP.

 

We began granting phantom stock units during fiscal year

 

 

During fiscal year we granted service-based phantom stock units to our then Interim Chief Executive Officer.

 

During the fiscal year we granted performance-based phantom stock units that will vest approximately years after the grant date.

 

Included in our Consolidated Balance Sheets are amounts within Accrued liabilities: Payroll and related costs of million as of and amounts within Other deferred liabilities of million and million as of and respectively, relating to all of our long-term incentive awards that will settle in cash.

 

 

As discussed further in Note to the Consolidated Financial Statements, various management personnel left the Company during fiscal years and Several of these individuals held share-based compensation awards at the times of their separations, and these awards were either vested or forfeited in accordance with the terms of the original awards.