STOCK-BASED COMPENSATION (Tables)

4 Months Ended

Apr. 23, 2016

Cash Received, Windfall Tax Benefits, and Intrinsic Value from Stock Option Exercises

As of April 23, 2016, compensation expense related to the NQSOs was fully amortized.  The cash received, the windfall tax benefit, and intrinsic value from stock option exercises for the sixteen weeks ended April 23, 2016 and April 25, 2015 were as follows (amounts in thousands):

	April 23, 2016		April 25, 2015
Cash received from option exercises	$	1,124	$	2,082
Cash tax windfall, net	$	200	$	610
Intrinsic value of stock options exercised	$	776	$	2,054

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	%

Deferred and Restricted Stock Activity

The deferred stock activity for the sixteen weeks ended April 23, 2016 is set forth below (amounts in thousands, except price data):  

	Shares			Weighted Average Fair Value		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Nonvested shares at January 2, 2016		126		$	21.89
Vested		(2	)	$	22.08
Granted		19		$	21.49
Nonvested shares at April 23, 2016		143		$	21.84		0.75	$	2,685

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, 2016 and April 25, 2015, respectively (amounts in thousands):

	For the Sixteen Weeks Ended
	April 23, 2016			April 25, 2015
Performance-contingent restricted stock awards	$	7,116		$	6,556
Deferred and restricted stock		674			642
Stock appreciation rights		(11	)		91
Total stock based compensation	$	7,779		$	7,289

Stock Option

Stock Option Activity

The stock option activity for the sixteen weeks ended April 23, 2016 pursuant to the EPIP is set forth below (amounts in thousands, except price data):

	Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at January 2, 2016		4,353		$	10.97
Exercised		(102	)	$	10.96
Outstanding at April 23, 2016		4,251		$	10.97		1.12	$	31,076
Exercisable at April 23, 2016		4,251		$	10.97		1.12	$	31,076

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 under the EPIP and have service period remaining (amounts in thousands, except price data):

Grant date	January 3, 2016		January 4, 2015
Shares granted		401		414
Vesting date	2/21/2018		3/1/2017
Fair value per share	$	24.17	$	21.21

Performance-Contingent Restricted Stock Activity

Performance-Contingent Restricted Stock

The company’s performance-contingent restricted stock activity for the sixteen weeks ended April 23, 2016, is presented below (amounts in thousands, except price data):  

	Shares			Weighted Average Grant Date Fair Value
Nonvested shares at January 2, 2016		1,349		$	21.26
Initial grant at target		801		$	22.83
Grant reduction for not achieving the ROIC modifier		(14	)	$	21.47
Grant reduction for not achieving the TSR modifier		(249	)	$	23.97
Vested		(312	)	$	22.02
Forfeited		(11	)	$	23.72
Nonvested shares at April 23, 2016		1,564		$	21.53

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 EPIP and have service period remaining (amounts in thousands, except price data):

Grant date	January 3, 2016		January 4, 2015
Shares granted		401		414
Vesting date	2/21/2018		3/1/2017
Fair value per share	$	21.49	$	19.14