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Stock-Based Compensation (Tables)

9 Months Ended

Oct. 03, 2020

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 share data).

Award Granted

Fiscal Year

Vested

TSR Modifier

Increase

ROIC Modifier

Decrease

Dividends at

Vesting

(thousands)

Tax

Benefit

Fair Value at

Vesting

2017

2019

205,686

(97,131

)

1,219

936

18,570

Performance-Contingent Restricted Stock Activity

Performance-Contingent Restricted Stock

The company’s performance-contingent restricted stock activity for the forty weeks ended October 3, 2020 is presented below (amounts in thousands, except price data):

	Shares			Weighted Average Grant Date Fair Value
Nonvested shares at December 28, 2019		662		$	20.16
Initial grant at target		682		$	23.31
Vested		—		$	—
Forfeited		(90	)	$	20.71
Nonvested shares at October 3, 2020		1,254		$	21.82

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	Shares Granted		Vesting Date	Fair Value per Share
12/30/2018		244	Equally over 3 years	$	18.29
5/23/2019		43	5/23/2023	$	23.08
12/29/2019		219	Equally over 3 years	$	21.74

Time-Based Restricted Stock Units Activity

The TBRSU Shares activity for the forty weeks ended October 3, 2020 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 28, 2019		270		$	19.06
Vested		(74	)	$	18.29
Granted		219		$	21.74
Forfeitures		(27	)	$	20.18
Nonvested shares at October 3, 2020		388		$	20.64		2.02	$	5,527

Vesting of Time-Based Restricted Stock Units

The table below presents the accumulated dividends on vested shares and the tax benefit/(expense) at vesting of the time-based restricted stock units (amounts in thousands).

Award Granted

Fiscal Year

Vested

Dividends at

Vesting

(thousands)

Tax

Benefit

Fair Value at

Vesting

2019

2020

1,584

Deferred Stock Activity

The deferred stock activity for the forty weeks ended October 3, 2020 is set forth below (amounts in thousands, except price data):

	Shares			Weighted Average Fair Value		Weighted Average Remaining Contractual Term (Years)		Unrecognized compensation cost
Nonvested shares at December 28, 2019		49		$	22.31
Vested		(49	)	$	22.31
Granted		54		$	23.15
Nonvested shares at October 3, 2020		54		$	23.15		0.69	$	836

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 3, 2020 and October 5, 2019, respectively (amounts in thousands):

	For the Twelve Weeks Ended
	October 3, 2020		October 5, 2019
Performance-contingent restricted stock awards	$	1,904	$	926
TBRSU Shares		667		347
Deferred and restricted stock		262		250
Total stock-based compensation	$	2,833	$	1,523

	For the Forty Weeks Ended
	October 3, 2020		October 5, 2019
Performance-contingent restricted stock awards	$	6,503	$	3,791
TBRSU Shares		2,317		1,149
Deferred and restricted stock		849		894
Total stock-based compensation	$	9,669	$	5,834

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	Shares Granted		Vesting Date	Fair Value per Share
12/30/2018		440	3/1/2022	$	21.58
5/23/2019		11	3/1/2022	$	27.23
7/14/2019		5	3/1/2022	$	23.32
10/6/2019		2	3/1/2022	$	22.52
12/29/2019		331	2/28/2023	$	25.00
4/19/2020		8	2/28/2023	$	23.14
07/12/2020		2	2/28/2023	$	21.97

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	Shares Granted		Vesting Date	Fair Value per Share
12/30/2018		440	3/1/2022	$	18.29
5/23/2019		11	3/1/2022	$	23.08
7/14/2019		5	3/1/2022	$	23.32
10/6/2019		2	3/1/2022	$	22.52
12/29/2019		331	2/28/2023	$	21.74
4/19/2020		8	2/28/2023	$	23.14
07/12/2020		2	2/28/2023	$	21.97