Stock-Based Compensation (Tables)

9 Months Ended

Oct. 02, 2018

Stock-Based Compensation Recognized within Our Consolidated Financial Statements

The following table presents the stock-based compensation recognized within our consolidated financial statements (in thousands):  

	For the Thirteen Weeks Ended				For the Thirty-Nine Weeks Ended
	October 2, 2018		October 3, 2017		October 2, 2018		October 3, 2017
Labor and benefits	$	577	$	406	$	1,699	$	1,404
General and administrative	$	1,600	$	1,335	$	4,559	$	3,867
Capitalized (1)	$	82	$	75	$	244	$	218

(1) Capitalized stock-based compensation relates to our restaurant development personnel and is included in “Property and equipment, net” on the Consolidated Balance Sheets.

Black-Scholes Option-Pricing Model, Weighted Average Assumptions Used to Estimate the Fair Value of Each Stock Option

The fair value of each stock option was estimated on the grant date using the Black‑Scholes option-pricing model with the following weighted average assumptions:

	For the Thirty-Nine Weeks Ended
	October 2, 2018			October 3, 2017
Expected volatility		33.6	%		34.7	%
Risk free interest rate		2.3	%		1.9	%
Expected option life	5 years			5 years
Dividend yield		1.5	%		0	%
Fair value of options granted	$	10.77		$	12.12

Stock Option Activity

The following table presents stock option activity:

	Options Outstanding					Options Exercisable
	Shares (in thousands)			Weighted Average Exercise Price		Shares (in thousands)		Weighted Average Exercise Price
Outstanding at January 2, 2018		1,311		$	32.68		926	$	30.02
Granted		177			37.77
Exercised		(864	)		29.74
Forfeited		(23	)		39.71
Outstanding at October 2, 2018		601		$	38.12		198	$	37.33

Time-Vested Restricted Stock Units

Restricted Stock Unit Activity

The following table presents time-based restricted stock unit activity:

	Shares (in thousands)			Weighted Average Fair Value
Outstanding at January 2, 2018		500		$	37.72
Granted		127			43.63
Vested or released		(104	)		35.56
Forfeited		(39	)		40.30
Outstanding at October 2, 2018		484		$	39.52

Performance Based Restricted Stock Units

Restricted Stock Unit Activity

The following table presents performance-based restricted stock unit activity:

	Shares (in thousands)			Weighted Average Fair Value
Outstanding at January 2, 2018		68		$	38.68
Granted		39			37.70
Vested or released		—			—
Forfeited		(1	)		38.66
Outstanding at October 2, 2018		106		$	38.32