Stock-Based Compensation (Tables)

4 Months Ended

Apr. 21, 2018

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

The cash received, the windfall tax benefit, and intrinsic value from stock option exercises for the sixteen weeks ended April 21, 2018 and April 22, 2017, respectively, were as follows (amounts in thousands):

	April 21, 2018		April 22, 2017
Cash received from option exercises	$	791	$	6,249
Tax benefit at exercise, net	$	111	$	1,443
Intrinsic value of stock options exercised	$	609	$	5,092

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, ROIC modifier share adjustment, 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).  The shortfall at vesting of 2015 and 2016 awards was recorded as tax expense.

Award Granted		Fiscal Year Vested		TSR Modifier Increase/(Decrease) Shares			ROIC Modifier Increase/(Decrease) Shares			Dividends at Vesting (thousands)		Tax Benefit/(Expense)			Fair Value at Vesting
	2016		2018		(333,112	)		(114,190	)	$	405	$	(2,130	)	$	6,504
	2015		2017		(378,219	)		(49,272	)	$	392	$	(3,099	)	$	6,316

Performance-Contingent Restricted Stock Activity

Performance-Contingent Restricted Stock

The company’s performance-contingent restricted stock activity for the sixteen weeks ended April 21, 2018 is presented below (amounts in thousands, except price data):  

	Shares			Weighted Average Grant Date Fair Value
Nonvested shares at December 30, 2017		1,575		$	22.20
Grant reduction for not achieving the ROIC modifier		(114	)	$	21.49
Grant reduction for not achieving the TSR modifier		(333	)	$	24.17
Vested		(314	)	$	21.89
Forfeited		(26	)	$	21.09
Nonvested shares at April 21, 2018		788		$	21.64

Deferred Stock Activity

The deferred stock activity for the sixteen weeks ended April 21, 2018 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 December 30, 2017		87		$	18.70
Vested		(10	)	$	19.97
Granted		13		$	19.31
Nonvested shares at April 21, 2018		90		$	18.64		0.44	$	305

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 21, 2018 and April 22, 2017, respectively (amounts in thousands):

	For the Sixteen Weeks Ended
	April 21, 2018		April 22, 2017
Performance-contingent restricted stock awards	$	2,853	$	5,367
Deferred and restricted stock		522		608
Total stock-based compensation	$	3,375	$	5,975

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 1, 2017
Shares granted		426
Vesting date	3/1/2019
Fair value per share	$	23.31

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 1, 2017
Shares granted		426
Vesting date	3/1/2019
Fair value per share	$	19.97