INCENTIVE COMPENSATION (Tables)

3 Months Ended

Apr. 01, 2018

Schedule of Awards

The following awards were outstanding during the thirteen weeks ended April 1, 2018:

Award Type

Benefit

Plan

Awards Granted

Grant

Date

Grant Date Fair Value per Award

Vesting Condition

Vesting Date

Awards Forfeited to Date

Settlement Method

RSU

LTIP

389,424

01/19/2017

18.38

Performance / Service

^(a)

389,424

^(a)

Stock

RSU

LTIP

280,000

02/14/2018

25.59

Service

01/01/2019

—

Stock

RSU

LTIP

161,215

03/01/2018

24.93

Service

^(b)

—

Stock

RSU

LTIP

266,478

03/01/2018

24.93

Performance / Service

^(c)

—

Stock


(a)	Performance conditions associated with these awards were not satisfied. Therefore, 100% of the awards were forfeited during the thirteen-weeks ended April 1, 2018.


(b)	The restricted stock units vest in ratable tranches on December 31, 2018, December 31, 2019 and December 31, 2020. Expected compensation cost related to these units totals $4.0 million based on a closing stock price for the Company’s common stock of $24.93 per share on March 1, 2018. Compensation cost will be amortized to profit/loss over the remaining vesting period.

(c)

If performance conditions related to the Company's 2018 operating results are satisfied, the restricted stock units vest in ratable tranches on December 31, 2019, December 31, 2020 and December 31, 2021. Expected compensation cost related to these units totals $6.6 million based on a closing stock price for the Company's common stock of $24.93 per share on March 1, 2018. Compensation cost will be amortized to profit/loss upon satisfaction of the performance conditions over the remaining vesting period.

Schedule of Compensation Cost and Income Tax Benefit

Compensation costs and the income tax benefit recognized for our share-based compensation arrangements are included below:



	Thirteen Weeks Ended
	April 1, 2018		March 26, 2017
	(In thousands)
Share-based compensation cost:
Cost of sales	$	52	$	149
Selling, general and administrative expense	1,221		1,311
Total	$	1,273	$	1,460

Income tax benefit	$	310	$	417

Schedule of Restricted Share and Restricted Stock Unit Activity

The Company’s RSU activity is included below:



	Thirteen Weeks Ended April 1, 2018				Thirteen Weeks Ended March 26, 2017
	Number		Weighted Average Grant Date Fair Value		Number		Weighted Average Grant Date Fair Value
	(In thousands, except weighted average fair values)
Outstanding at beginning of period	389		$	18.39	906		$	20.00
Granted	708		25.19		462		18.72
Vested	—		—		(486	)	17.73
Forfeited	(389	)	18.39		(251	)	25.36
Outstanding at end of period	708		$	25.19	631		$	18.68