STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jul. 16, 2016

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

As of July 16, 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 twenty-eight weeks ended July 16, 2016 and July 18, 2015 were as follows (amounts in thousands):

	July 16, 2016		July 18, 2015
Cash received from option exercises	$	10,478	$	2,795
Cash tax windfall, net	$	2,020	$	841
Intrinsic value of stock options exercised	$	7,500	$	2,807

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 twenty-eight weeks ended July 16, 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		(72	)	$	21.59
Granted		95		$	19.30
Nonvested shares at July 16, 2016		149		$	20.39		0.83	$	1,335

Summary of Company's Stock Based Compensation Expense

The following table summarizes the company’s stock based compensation expense for the twelve and twenty-eight weeks ended July 16, 2016 and July 18, 2015, respectively (amounts in thousands):

	For the Twelve Weeks Ended					For the Twenty-Eight Weeks Ended
	July 16, 2016		July 18, 2015			July 16, 2016			July 18, 2015
Performance-contingent restricted stock awards	$	2,998	$	3,089		$	10,115		$	9,646
Deferred and restricted stock		529		469			1,203			1,110
Stock appreciation rights		—		(39	)		(12	)		52
Total stock based compensation	$	3,527	$	3,519		$	11,306		$	10,808

Stock Option

Stock Option Activity

The stock option activity for the twenty-eight weeks ended July 16, 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		(961	)	$	10.91
Outstanding at July 16, 2016		3,392		$	10.99		1.00	$	26,471
Exercisable at July 16, 2016		3,392		$	10.99		1.00	$	26,471

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 Omnibus Plan 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 twenty-eight weeks ended July 16, 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		(12	)	$	23.72
Nonvested shares at July 16, 2016		1,563		$	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 Omnibus Plan 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