Equity Incentive Plans

9 Months Ended

Jul. 03, 2011

Disclosure Of Compensation Related Costs Share-Based Payments [Abstract]

Equity Incentive Plans

5. Equity Incentive Plans

The Company maintains various equity incentive plans that allow for the granting of incentive stock options, nonqualified stock options or stock awards such as performance shares and restricted stock. In February 2011 the Company's shareholders approved the Ruddick Corporation 2011 Incentive Compensation Plan which replaced the prior stock option and award plans

and reserves for issuance 2.6 million shares of common stock pursuant thereto. As previously disclosed, the Company's Board of Directors have approved stock awards in lieu of stock options since 2004, except for automatic grants of options to new non-employee directors.

A summary of the status of the Company's stock awards as of July 3, 2011 and June 27, 2010, changes during the 39-week periods ending on those dates and the weighted average grant-date fair value (WAGFV) is presented below (shares in thousands):

	July 3, 2011				June 27, 2010
	Shares			WAGFV	Shares			WAGFV
Non-vested at beginning of period	706		$	28.52	667		$	29.02
Granted	298			38.44	272			26.68
Vested	(190	)		28.29	(168	)		28.03
Forfeited	(16	)		30.26	(64	)		27.22
Non-vested at end of period	798			32.25	707			28.52

The total fair value of stock awards vested during the 39 weeks ended July 3, 2011 and June 27, 2010 was $5,388,000 and $4,572,000, respectively.

The stock awards are being expensed over the employees' five-year vesting service period in accordance with the graded vesting schedule. Compensation expense related to restricted awards amounted to $2,015,000 and $1,563,000 for the 13 weeks and $6,014,000 and $4,419,000 for the 39 weeks ended July 3, 2011 and June 27, 2010, respectively. Unamortized expense related to these awards as of July 3, 2011 amounted to $13,006,000 and have a weighted average recognition period of 1.88 years.

A summary of the status of the Company's stock option plans as of July 3, 2011 and June 27, 2010, changes during the 39-week periods ending on those dates and related weighted average exercise price is presented below (shares in thousands):

	July 3, 2011				June 27, 2010
	Shares			Price	Shares			Price
Outstanding at beginning of period	104		$	17.86	373		$	16.49
Exercised	(33	)		16.30	(214	)		15.90
Outstanding and exercisable at end of period	71			18.61	159			17.29

As of July 3, 2011, all outstanding stock options were exercisable and the price per share ranged from $14.39 to $35.24. The total cash received from stock options exercised for the exercise price and related tax deductions is included in the Consolidated Condensed Statements of Equity and Comprehensive Income. The Company has historically issued new shares to satisfy the stock options exercised.

The aggregate intrinsic value of stock options as of July 3, 2011 and June 27, 2010, and stock options exercised during the periods ending on those dates is presented below (in thousands):

		July 3, 2011		June 27, 2010
Intrinsic value of options outstanding and exercisable at end of period	$	1,819	$	2,467
Intrinsic value of stock options exercised during the 39-week period		780		3,101

There were no stock options granted or compensation costs related to stock options during the first 39-week periods of fiscal 2011 or 2010.