Stock Based Compensation

9 Months Ended

Feb. 28, 2015

2. Stock Based Compensation

Total stock based compensation expense for the thirty-nine weeks ended February 28, 2015 and March 1, 2014 was $1.7 million and $1.0 million, respectively. Refer to Note 11 of our May 31, 2014 audited financial statements for further information on our stock compensation plans.

Liabilities associated with Stock Appreciation Rights at February 28, 2015 and May 31, 2014 were $1.1 million. The liabilities for 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 February 28, 2015 was $6.1 million, and will be recorded over a weighted average period of 2.3 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 thirty-nine weeks ended February 28, 2015 is as follows:


	Number of Shares		Weighted Average Grant Date Fair Value
Outstanding, May 31, 2014		245,200	$	23.71
Granted		91,540		36.63
Vested		(400)		(23.65)
Forfeited		(1,200)		(23.65)
Outstanding, February 28, 2015		335,140	$	27.24

- 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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