Stock-Based Compensation

9 Months Ended

Jan. 22, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

Share-Based Compensation

As of January 22, 2016, there were equity awards outstanding under the Amended and Restated Bob Evans Farms, Inc. 2010 Equity and Cash Incentive Plan (the “2010 Plan”), as well as previous equity plans adopted in 2006, 1998 and 1993. The types of awards that may be granted under the 2010 Plan include: stock options, stock appreciation rights, restricted stock awards ("RSAs"), restricted stock units ("RSUs"), cash incentive awards, performance share units ("PSUs"), and other awards. During the three months ended January 22, 2016, and January 23, 2015, the Company granted approximately 14,000 and 50,000 RSAs and RSUs, respectively, under the 2010 Plan. During the nine months ended January 22, 2016, the Company granted approximately 126,000 RSAs and RSUs and 70,000 PSUs under the 2010 Plan, while during the nine months ended January 23, 2015, the Company granted approximately 90,000 RSAs and RSUs under the 2010 Plan.

The PSUs granted under the 2010 Plan have market-based vesting conditions, while RSAs and RSUs granted under the 2010 Plan vest ratably, primarily over three years for employees, and one year for nonemployee directors of the Company. The PSUs awarded in the first quarter of fiscal 2016 vest at the end of a three-year performance period if they achieve the market-based vesting conditions.

Share-based compensation expense, included primarily within the S,G&A line on the Consolidated Statements of Net Income, was $1,327 and $271 for the three months ended January 22, 2016, and January 23, 2015, respectively, and $4,656 and $2,158 for the nine months ended January 22, 2016, and January 23, 2015, respectively.