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Stock-Based Compensation (Tables)

4 Months Ended

Apr. 20, 2019

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 were as follows (amounts in thousands):

	April 21, 2018
Cash received from option exercises	$	791
Tax benefit at exercise, net	$	111
Intrinsic value of stock options exercised	$	609

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).

Award Granted

Fiscal Year

Vested

TSR Modifier

Increase/(Decrease)

ROIC Modifier

Increase/(Decrease)

Dividends at

Vesting

(thousands)

Tax

Benefit/(Expense)

Fair Value at

Vesting

2017

2019

205,686

(97,131

)

1,219

936

18,570

2016

2018

(333,112

)

(114,190

)

405

(2,130

)

6,504

Performance-Contingent Restricted Stock Activity

Performance-Contingent Restricted Stock

The company’s performance-contingent restricted stock activity for the sixteen weeks ended April 20, 2019 is presented below (amounts in thousands, except price data):

	Shares			Weighted Average Grant Date Fair Value
Nonvested shares at December 29, 2018		779		$	21.64
Initial grant at target		881		$	19.94
Grant reduction for not achieving the ROIC modifier		(97	)	$	19.97
Grant increase for achieving the TSR modifier		206		$	23.31
Vested		(885	)	$	22.21
Forfeited		(7	)	$	19.94
Nonvested shares at April 20, 2019		877		$	19.94

Time-Based Restricted Stock Units Awards

The following TBRSU Shares have been granted under the Omnibus Plan and have service periods remaining (amounts in thousands, except price data):

Grant Date	December 30, 2018
Shares granted		244
Vesting date	Equally over 3 years
Fair value per share	$	18.29

Time-Based Restricted Stock Units Activity

The TBRSU Shares activity for the sixteen weeks ended April 20, 2019 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 December 29, 2018		—		$	—
Granted		244			18.29
Forfeitures		(3	)		18.29
Nonvested shares at April 20, 2019		241		$	18.29		2.72	$	3,964

Deferred Stock Activity

The deferred stock activity for the sixteen weeks ended April 20, 2019 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 29, 2018		66		$	19.93
Vested		(8	)	$	19.31
Granted		3		$	18.47
Nonvested shares at April 20, 2019		61		$	19.93		0.10	$	1,322

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 20, 2019 and April 21, 2018, respectively (amounts in thousands):

	For the Sixteen Weeks Ended
	April 20, 2019		April 21, 2018
Performance-contingent restricted stock awards	$	2,356	$	2,853
TBRSU Shares		448		—
Deferred stock awards		375		522
Total stock-based compensation	$	3,179	$	3,375

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	December 30, 2018
Shares granted		440
Vesting date	3/1/2022
Fair value per share	$	21.58

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	December 30, 2018
Shares granted		440
Vesting date	3/1/2022
Fair value per share	$	18.29