Stock-Based Compensation (Tables)

4 Months Ended

Apr. 23, 2022

Payout Determined from Total Shareholder Return Shares

The Company TSR compared to the Peer Group TSR will determine the payout as set forth below:

Percentile	Payout as % of Target
90th		200	%
70th		150	%
50th		100	%
30th		50	%
Below 30th		0	%

Performance-Contingent Restricted Stock Awards

The table below presents the TSR modifier share adjustment (a 137% final payout), ROIC modifier share adjustment (a 125% final payout), accumulated dividends on vested shares, and the tax benefit/(expense) at vesting of the performance-contingent restricted stock awards (amounts in thousands, except per share data):

Award Granted		Fiscal Year Vested		TSR Modifier Increase Shares		ROIC Modifier Increase Shares		Dividends at Vesting		Tax Benefit		Fair Value at Vesting
	2019		2022		109,729		74,154	$	1,843	$	2,196	$	22,143

Performance-Contingent Restricted Stock Activity

The company’s performance-contingent restricted stock activity for the sixteen weeks ended April 23, 2022 is presented below (amounts in thousands, except price data):

	Shares			Weighted Average Grant Date Fair Value
Nonvested shares at January 1, 2022		1,972		$	22.89
Initial grant at target		663		$	29.72
Grant increase for achieving the ROIC modifier		74		$	29.72
Grant increase for achieving the TSR modifier		110		$	29.72
Vested		(778	)	$	20.25
Forfeited		(15	)	$	24.72
Nonvested shares at April 23, 2022		2,026		$	25.90

Time-Based Restricted Stock Units Awards

The following TBRSU Shares have been granted under the Omnibus Plan during the sixteen weeks ended April 23, 2022 (amounts in thousands, except price data):

Grant Date	Shares Granted		Vesting Date	Fair Value per Share
1/2/2022		206	Equally over 3 years	$	27.47

Time-Based Restricted Stock Units Activity

The TBRSU Shares activity for the sixteen weeks ended April 23, 2022 is set forth below (amounts in thousands, except price data):

	TBRSU Shares			Weighted Average Fair Value		Weighted Average Remaining Contractual Term (Years)		Unrecognized Compensation Cost
Nonvested shares at January 1, 2022		492		$	21.87
Vested		(213	)	$	20.99
Granted		206		$	27.47
Forfeitures		(7	)	$	24.12
Nonvested shares at April 23, 2022		478		$	24.64		2.13	$	9,431

Vesting of Time-Based Restricted Stock Units

The table below presents the accumulated dividends on vested shares and the tax benefit/(expense) at vesting of the time-based restricted stock units (amounts in thousands).

Award Granted		Fiscal Year Vested		Dividends at Vesting		Tax Benefit		Fair Value at Vesting
	2021		2022	$	159	$	106	$	2,262
	2020		2022	$	106	$	100	$	1,818
	2019		2022	$	67	$	161	$	1,870

Deferred Stock Activity

The deferred stock activity for the sixteen weeks ended April 23, 2022 is set forth below (amounts in thousands, except price data):

	Shares		Weighted Average Fair Value		Weighted Average Remaining Contractual Term (Years)		Unrecognized compensation cost
Nonvested shares at January 1, 2022		67	$	24.00
Vested		—	$	—
Granted		4	$	27.47
Nonvested shares at April 23, 2022		71	$	24.18		0.29	$	218

Summary of Company's Stock Based Compensation Expense

The following table summarizes the company’s stock-based compensation expense for the sixteen weeks ended April 23, 2022 and April 24, 2021, respectively (amounts in thousands):

	For the Sixteen Weeks Ended
	April 23, 2022		April 24, 2021
Performance-contingent restricted stock awards	$	6,915	$	5,289
TBRSU Shares		1,647		1,467
Deferred and restricted stock		519		426
Total stock-based compensation	$	9,081	$	7,182

Performance-Contingent Total Shareholder Return Shares

Performance Contingent TSR Shares, ROIC Shares and Restricted Stock Awards

The following performance-contingent TSR Shares have been granted during the sixteen weeks ended April 23, 2022 under the Omnibus Plan (amounts in thousands, except price data):

Grant Date	Shares Granted		Vesting Date	Fair Value per Share
1/2/2022		331	3/1/2025	$	31.97

Return On Invested Capital

Performance Contingent TSR Shares, ROIC Shares and Restricted Stock Awards

The following performance-contingent ROIC Shares have been granted under the Omnibus Plan during the sixteen weeks ended April 23, 2022 (amounts in thousands, except price data):

Grant Date	Shares Granted		Vesting Date	Fair Value per Share
1/2/2022		331	3/1/2025	$	27.47