Stock Based Compensation

3 Months Ended

Aug. 30, 2014

2. Stock Based Compensation

Total stock based compensation expense for the thirteen weeks ended August 30, 2014 and August 31, 2013 was $635,000 and $241,000, respectively. Liabilities associated with Stock Appreciation Rights (“SARs”) as of August 30, 2014 and May 31, 2014 were $1.3 million and $1.1 million, respectively. The liabilities for our 2005 Stock Appreciation Rights are included in the line item “Accounts payable and accrued expenses” in our Condensed Consolidated Balance Sheets. Unrecognized compensation expense as a result of non-vested shares of the 2012 Omnibus Long-Term Incentive Plan at August 30, 2014 was $3.8 million, and will be recorded over a weighted average period of 1.9 years. Refer to Note 11 of our May 31, 2014 audited financial statements for further information on our stock compensation plans.

A summary of the Company’s restricted shares activity for the thirteen weeks ended August 30, 2014 is as follows:


	Number of Shares		Weighted Average Grant Date Fair Value
Outstanding, May 31, 2014		122,600	$	47.43
Granted		-		-
Vested		-		-
Forfeited		-		-
Outstanding, August 30, 2014		122,600	$	47.43

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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