Stock-Based Compensation (Tables)

9 Months Ended

Oct. 09, 2021

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 Activity

Performance-Contingent Restricted Stock

The company’s performance-contingent restricted stock activity for the forty weeks ended October 9, 2021 is presented below (amounts in thousands, except price data):  

	Shares			Weighted Average Grant Date Fair Value
Nonvested shares at January 2, 2021		1,264		$	21.85
Initial grant at target		730		$	24.69
Vested		—		$	—
Forfeited		(26	)	$	22.61
Nonvested shares at October 9, 2021		1,968		$	22.89

Time-Based Restricted Stock Units Awards

The following TBRSU Shares have been granted under the Omnibus Plan during the forty weeks ended October 9, 2021 (amounts in thousands, except price data):

Grant Date	Shares Granted		Vesting Date	Fair Value per Share
1/3/2021		256	Equally over 3 years	$	22.63

Time-Based Restricted Stock Units Activity

The TBRSU Shares activity for the forty weeks ended October 9, 2021 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 January 2, 2021		388		$	20.64
Vested		(137	)	$	19.98
Granted		256		$	22.63
Forfeitures		(16	)	$	21.62
Nonvested shares at October 9, 2021		491		$	21.83		1.85	$	6,585

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
	2020		2021	$	53	$	16	$	1,520
	2019		2021	$	107	$	77	$	1,582
	2019		2020	$	55	$	57	$	1,831

Deferred Stock Activity

The deferred stock activity for the forty weeks ended October 9, 2021 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 January 2, 2021		52		$	23.21
Vested		(52	)	$	23.21
Granted		69		$	23.96
Nonvested shares at October 9, 2021		69		$	23.96		0.63	$	1,015

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 9, 2021 and October 3, 2020, respectively (amounts in thousands):

	For the Twelve Weeks Ended
	October 9, 2021		October 3, 2020
Performance-contingent restricted stock awards	$	3,287	$	1,904
TBRSU Shares		1,146		667
Deferred and restricted stock		378		262
Total stock-based compensation	$	4,811	$	2,833
	For the Forty Weeks Ended
	October 9, 2021		October 3, 2020
Performance-contingent restricted stock awards	$	11,910	$	6,503
TBRSU Shares		3,701		2,317
Deferred and restricted stock		1,157		849
Total stock-based compensation	$	16,768	$	9,669

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 during the forty weeks ended October 9, 2021 under the Omnibus Plan (amounts in thousands, except price data):

Grant Date	Shares Granted		Vesting Date	Fair Value per Share
1/3/2021		365	3/1/2024	$	26.75

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 during the forty weeks ended October 9, 2021 (amounts in thousands, except price data):

Grant Date	Shares Granted		Vesting Date	Fair Value per Share
1/3/2021		365	3/1/2024	$	22.63