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Stock-Based Compensation (Tables)

9 Months Ended

Oct. 05, 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 forty weeks ended October 6, 2018 were as follows (amounts in thousands):

	October 6, 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

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 forty weeks ended October 5, 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		913		$	20.10
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		(257	)	$	19.94
Nonvested shares at October 5, 2019		659		$	20.16

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		May 23, 2019
Shares granted		244		43
Vesting date	Equally over 3 years		5/23/2023
Fair value per share	$	18.29	$	23.08

Time-Based Restricted Stock Units Activity

The TBRSU Shares activity for the forty weeks ended October 5, 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		288			19.01
Forfeitures		(18	)		18.29
Nonvested shares at October 5, 2019		270		$	19.06		2.57	$	5,471

Deferred Stock Activity

The deferred stock activity for the forty weeks ended October 5, 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		(66	)	$	19.93
Granted		49		$	22.31
Nonvested shares at October 5, 2019		49		$	22.31		0.64	$	1,092

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 5, 2019 and October 6, 2018, respectively (amounts in thousands):

	For the Twelve Weeks Ended
	October 5, 2019		October 6, 2018
Performance-contingent restricted stock awards	$	926	$	1,061
TBRSU Shares		347		—
Deferred stock awards		250		381
Total stock-based compensation	$	1,523	$	1,442

	For the Forty Weeks Ended
	October 5, 2019		October 6, 2018
Performance-contingent restricted stock awards	$	3,791	$	5,634
TBRSU Shares		1,149		—
Deferred and restricted stock		894		1,258
Total stock-based compensation	$	5,834	$	6,892

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		May 23, 2019		July 14, 2019
Shares granted		440		11		5
Vesting date	3/1/2022		3/1/2022		3/1/2022
Fair value per share	$	21.58	$	27.23	$	23.32

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		May 23, 2019		July 14, 2019
Shares granted		440		11		5
Vesting date	3/1/2022		3/1/2022		3/1/2022
Fair value per share	$	18.29	$	23.08	$	23.32