STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Assumptions Used in Estimating Fair Value of Each Option Grant

The fair value of each option grant made in 2022, 2021 and 2020 was estimated using the following assumptions:

	2022		2021		2020
Expected volatility	32.36	%	33.01	%	33.72	%
Risk-free interest rate	3.75	%	1.26	%	0.43	%
Expected life from vesting date	5.4 yrs		4.0 yrs		4.0 yrs
Dividend yield	1.10	%	1.20	%	1.24	%

Summary of Activity of Stock Plans

Following is a summary of the stock option activity during 2020, 2021 and 2022:

				Weighted
		Weighted		Average
		Average		Remaining	Aggregate
	Number of	Exercise		Contractual	Intrinsic
	Shares	Price		Term	Value
Outstanding at December 28, 2019	488,560	$	133.13
Granted	66,231		168.80
Exercised	(147,014)		125.43
Forfeited	(8,212)		137.49
Outstanding at December 26, 2020	399,565	$	141.79	4.88	$	12,103
Options vested or expected to vest at December 26, 2020	389,633	$	141.56	4.81		11,890
Options exercisable at December 26, 2020	254,498	$	138.64	3.38		8,510

The weighted average per share fair value of options granted during 2020 was $45.49.

				Weighted
		Weighted		Average
		Average		Remaining	Aggregate
	Number of	Exercise		Contractual	Intrinsic
	Shares	Price		Term	Value
Outstanding at December 26, 2020	399,565	$	141.79
Granted	47,223		252.89
Exercised	(169,908)		135.76
Forfeited	(416)		132.84
Outstanding at December 25, 2021	276,464	$	164.48	5.88	$	22,586
Options vested or expected to vest at December 25, 2021	268,338	$	163.42	5.80		22,188
Options exercisable at December 25, 2021	154,860	$	142.15	4.00		15,896

The weighted average per share fair value of options granted during 2021 was $67.81.

(12) STOCK-BASED COMPENSATION – CONTINUED

				Weighted
		Weighted		Average
		Average		Remaining	Aggregate
	Number of	Exercise		Contractual	Intrinsic
	Shares	Price		Term	Value
Outstanding at December 25, 2021	276,464	$	164.48
Granted	40,564		332.63
Exercised	(121,163)		139.89
Forfeited	(175)		104.47
Outstanding at December 31, 2022	195,690	$	214.62	7.53	$	22,644
Options vested or expected to vest at December 31, 2022	189,267	$	212.69	7.48		22,261
Options exercisable at December 31, 2022	90,556	$	172.08	6.40		14,276

The weighted average per share fair value of options granted during 2022 was $104.01.

Schedule of Non-Vested Stock and Restricted Stock Units

During fiscal 2022, 2021 and 2020, the Company granted restricted stock units to directors and certain management employees as follows (which are not included in the above stock plan activity tables):

	2022		2021		2020
Restricted stock units granted		60,901		216,971		85,251
Weighted‑average per share price on grant date	$	313.75	$	236.28	$	161.73
Recognized compensation expense	$	22,664	$	16,147	$	9,081

Share-based Payment Arrangement, Performance Shares, Outstanding Activity

During fiscal 2022, 2021 and 2020, the Company granted PSU awards as follows (which are not included in the above stock plan activity tables):

	2022		2021		2020
Shares granted		33,736		41,060		35,181
Weighted‑average per share price on grant date	$	215.15	$	230.40	$	125.41
Recognized compensation expense	$	16,066	$	10,035	$	3,165