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Stock-Based Compensation (Tables)

9 Months Ended

Oct. 06, 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 forty weeks ended October 6, 2018 and October 7, 2017, respectively, were as follows (amounts in thousands):

	October 6, 2018		October 7, 2017
Cash received from option exercises	$	791	$	9,296
Tax benefit at exercise, net	$	111	$	2,004
Intrinsic value of stock options exercised	$	609	$	7,197

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)

ROIC Modifier

Increase/(Decrease)

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 forty weeks ended October 6, 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		(35	)	$	22.83
Nonvested shares at October 6, 2018		779		$	21.63

Deferred Stock Activity

The deferred stock activity for the forty weeks ended October 6, 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		(87	)	$	18.57
Granted		78		$	19.89
Nonvested shares at October 6, 2018		78		$	19.89		0.62	$	1,756

Summary of Company's Stock-Based Compensation Expense

The following table summarizes the company’s stock-based compensation expense for the twelve and forty weeks ended October 6, 2018 and October 7, 2017, respectively (amounts in thousands):

	For the Twelve Weeks Ended
	October 6, 2018		October 7, 2017
Performance-contingent restricted stock awards	$	1,061	$	2,638
Deferred and restricted stock		381		380
Total stock-based compensation	$	1,442	$	3,018

	For the Forty Weeks Ended
	October 6, 2018		October 7, 2017
Performance-contingent restricted stock awards	$	5,634	$	10,321
Deferred and restricted stock		1,258		1,387
Total stock-based compensation	$	6,892	$	11,708

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