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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Jan. 03, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of recorded stock-based compensation cost

The Company recorded stock-based compensation cost as follows:



	For the fiscal years ended
(dollars in thousands)	January 3, 2015		December 28, 2013		December 29, 2012
Stock options	$	4,672	$	4,728	$	4,093
Restricted stock:
Time-based awards	7,018		6,732		5,376
Performance-based awards	4,827		4,127		2,395
Stock awards	1,081		453		1,185
Total	$	17,598	$	16,040	$	13,049

Summary of stock option activity

Changes in the Company's stock options for the fiscal year ended January 3, 2015 were as follows:



	Number of shares		Weighted- average exercise price	Weighted-average remaining contractual terms (years)	Aggregate intrinsic value (in thousands)

Outstanding, December 28, 2013	1,677,741		$35.37

Granted	228,700		$68.73
Exercised	(287,511	)	$31.53
Forfeited	(129,840	)	$49.50
Expired	(2,700	)	$47.85
Outstanding, January 3, 2015	1,486,390		$39.99	6.32	$	68,389

Vested and Expected to Vest, January 3, 2015	1,419,359		$39.20	6.34	$	66,433
Exercisable, January 3, 2015	867,115		$28.58	5.07	$	49,786

Assumptions used for grants and summary of stock options and restricted stock activity

The table below presents the assumptions used to calculate the fair value of options granted in each of the respective fiscal years:



	For the fiscal years ended
	January 3, 2015			December 28, 2013			December 29, 2012
Expected volatility	30.85		%	33.15		%	34.74		%
Risk-free interest rate	1.82		%	1.15		%	1.37		%
Expected term (years)	6.0			6.0			5.9
Dividend yield	1.11		%	0.91		%	—
Weighted average fair value of options granted	$	19.86		$	20.21		$	15.28

Summary of restricted stock award activity

The following table summarizes activity related to all restricted stock awards during the fiscal year ended January 3, 2015:



	Restricted stock awards		Weighted-average grant-date fair value
Outstanding, December 28, 2013	786,189		$	44.87
Granted	190,109		$	68.96
Vested	(184,133	)	$	42.24
Forfeited	(117,290	)	$	50.85
Outstanding, January 3, 2015	674,875		$	51.34

Summary of issued shares of common stock to non-management board members

During fiscal years 2014, 2013 and 2012, the Company issued fully-vested shares of its common stock to non-management members of the Company's board of directors, as follows:



	Number of shares issued	Fair value per share	Aggregate value (in thousands)
2012	21,708	$49.76	$1,080
2013	16,173	$66.79	$1,080
2014	14,859	$72.72	$1,081

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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