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Stock-Based Compensation Arrangements
 9 Months Ended
Sep. 29, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation Arrangements:
Stock-Based Compensation Arrangements:
Our stock-based compensation plans permit us to grant awards of restricted stock to our employees and non-employee directors. Certain of these awards are subject to performance-based criteria. The fair value of all stock-based awards, less estimated forfeitures, if any, and portions capitalized as described below, is recognized as stock-based compensation expense in “General and administrative expenses” in the Consolidated Financial Statements over the period that services are required to be provided in exchange for the award.
The following table summarizes stock-based compensation expense and associated tax benefit recognized in the Consolidated Financial Statements:
 
 
Three Months Ended
 
Nine Months Ended
 
 
September 29,
2013
 
September 30,
2012
 
September 29,
2013
 
September 30,
2012
 
 
(in thousands)
Stock-based compensation costs
 
$
2,288

 
$
1,958

 
$
6,603

 
$
5,725

Portion capitalized as property and equipment(1)
 
(44
)
 
(33
)
 
(134
)
 
(95
)
Stock-based compensation expense recognized
 
$
2,244

 
$
1,925

 
$
6,469

 
$
5,630

Tax benefit recognized from stock-based compensation awards
 
$
77

 
$
—

 
$
249

 
$
619

 __________________
(1)
We capitalize the portion of stock-based compensation costs related to our design, construction, facilities and legal departments that are directly attributable to our store development projects, such as the design and construction of a new store and the remodeling and expansion of our existing stores. Capitalized stock-based compensation cost attributable to our store development projects is included in “Property and equipment, net” in the Consolidated Balance Sheets.
As of September 29, 2013, unrecognized pre-tax stock-based compensation cost of $14.7 million related to restricted stock awards granted will be recognized over a weighted average remaining vesting period of 1.7 years.
Restricted Stock
The following table summarizes restricted stock activity during the nine months ended September 29, 2013:
 


Restricted
Shares

Weighted
Average
Grant Date
Fair Value
Unvested restricted stock awards, December 30, 2012

547,077

 
$
35.94

Granted

291,245

 
$
30.95

Vested

(221,751
)
 
$
33.69

Forfeited

(24,093
)
 
$
35.73

Unvested restricted stock awards, September 29, 2013

592,478

 
$
34.34


During the nine months ended September 29, 2013, employees and non-employee directors tendered 71,465 shares of their common stock to satisfy tax withholding requirements on the vesting of their restricted stock at an average price per share of $30.66.