INCENTIVE COMPENSATION

3 Months Ended

Mar. 31, 2013

Incentive Compensation Plans [Abstract]

Disclosure Of Compensation Related Costs, Share-Based Payments [Text Block]

12. INCENTIVE COMPENSATION

The Company sponsors a short-term incentive plan that provides the grant of either cash or share-based bonus awards payable upon achievement of specified performance goals (the “STIP”). Full-time, salaried exempt employees of the Company and its affiliates who are selected by the administering committee are eligible to participate in the STIP. The Company has accrued $4.5 million in costs related to the STIP at March 31, 2013 related to cash bonus awards that could potentially be awarded during the remainder of 2013 and 2014.

The Company also sponsors a performance-based, omnibus long-term incentive plan that provides for the grant of a broad range of long-term equity-based and cash-based awards to the Company’s officers and other employees, members of the Board and any consultants (the “LTIP”). The equity-based awards that may be granted under the LTIP include “incentive stock options,” within the meaning of the Internal Revenue Code, nonqualified stock options, stock appreciation rights, restricted stock awards (“RSAs”) and restricted stock units (“RSUs”). At March 31, 2013, we have reserved approximately 6.6 million shares of common stock for future issuance under the LTIP.

The following awards existed during the thirteen weeks ended March 31, 2013:

						Estimated
Award		Award		Vesting		Forfeiture	Settlement
Type	Benefit Plan	Quantity	Grant Date	Condition	Vesting Date	Rate	Method
RSA	Employment Agreement	100,000	January 14, 2011	Service	January 3, 2013	— %	Stock
RSA	Employment Agreement	100,000	January 14, 2011	Service	January 3, 2014	— %	Stock
RSA	LTIP	72,675	August 27, 2012	Service	April 27, 2014	— %	Stock
RSU	LTIP	608,561	February 4, 2013	Service	December 31, 2014	9.6559%	Stock
RSA	LTIP	15,000	February 25, 2013	Service	February 24, 2015	— %	Stock
RSA	LTIP	15,000	February 25, 2013	Service	February 24, 2016	— %	Stock
RSU	LTIP	206,933	February 26, 2013	Service	December 31, 2014	— %	Stock

Compensation cost charged as selling, general and administrative expense and the income tax benefit recognized for our share-based compensation arrangements are included below:

	Thirteen Weeks Ended
	March 31, 2013		March 25, 2012
	(In thousands, except weighted average fair values)
Total share-based compensation cost	$	548	$	149
Income tax benefit		126		—

The Company’s restricted share and restricted stock unit activity is included below:

	Thirteen Weeks Ended March 31, 2013				Thirteen Weeks Ended March 25, 2012
			Weighted Average			Weighted Average
	Number		Grant Date Fair Value		Number	Grant Date Fair Value
	(In thousands, except weighted average fair values)
Outstanding at beginning of period	273		$	6.54	200	$	7.10
Granted	845			8.82	—		—
Vested	(100	)	$	7.10	—	$	—
Outstanding at end of period	1,018		$	8.38	200	$	7.10

     At March 31, 2013, the total unrecognized compensation cost related to all nonvested awards was $7.3 million. That cost is expected to be recognized over a weighted average period of 1.72 years.

Historically, we have issued new shares to satisfy award conversions.