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Stockholders' Equity and Stock Compensation Plans
3 Months Ended
Dec. 30, 2012
Stockholders' Equity and Stock Compensation Plans  
Stockholders' Equity and Stock Compensation Plans

6.                                      Stockholders’ Equity and Stock Compensation Plans

 

We recognize the fair value of our stock-based compensation awards as compensation expense on a straight-line basis over the requisite service period in which the award vests.  Stock-based compensation expense for the first quarters of fiscal 2013 and 2012 was $2.5 million and $2.9 million, respectively.  The majority of these amounts was included in “Selling, general and administrative (“SG&A”) expenses” in our condensed consolidated statements of income.  In the first quarter of fiscal 2013, we granted 279,075 stock options with an exercise price of $24.26 per share and an estimated weighted-average fair value of $8.74 per share.  In addition, we awarded 108,350 shares of restricted stock to our non-employee directors and executive officers at the fair value of $24.26 per share on the award date.  All of these shares are performance-based and vest over a three-year period.  The number of shares that ultimately vest is based on the growth in our diluted earnings per share.  Additionally, we awarded 224,055 restricted stock units (“RSUs”) to our non-employee directors, executive officers and employees at the fair value of $24.26 per share on the award date.  All of the RSUs have time-based vesting over a four-year period.