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Share-Based Payments (Tables)
6 Months Ended
Jul. 16, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Allocation of Stock-Based Compensation Expense in Condensed Consolidated Statements of Operations

Share-based compensation expense recognized and included in “Selling, general and administrative expenses” in the condensed consolidated statements of earnings, and related tax impacts were as follows:

 

12 Weeks Ended

 

 

28 Weeks Ended

 

(In thousands)

July 16, 2022

 

 

July 17, 2021

 

 

July 16, 2022

 

 

July 17, 2021

 

Restricted stock expense

$

 

1,397

 

 

$

 

872

 

 

$

 

5,692

 

 

$

 

5,057

 

Income tax benefit

 

 

(458

)

 

 

 

(223

)

 

 

 

(3,048

)

 

 

 

(1,230

)

Restricted stock expense, net of tax

$

 

939

 

 

$

 

649

 

 

$

 

2,644

 

 

$

 

3,827

 

Summary of Stock Incentive Plans Activity

The following table summarizes activity in the stock incentive plans for the 28 weeks ended July 16, 2022:

 

 

 

 

 

Weighted

 

 

 

Restricted

 

 

Average

 

 

 

Stock

 

 

Grant-Date

 

 

 

Awards

 

 

Fair Value

 

Outstanding at January 1, 2022

 

 

1,031,837

 

 

$

 

17.56

 

Granted

 

 

383,285

 

 

 

 

28.58

 

Vested

 

 

(468,162

)

 

 

 

17.90

 

Cancelled/Forfeited

 

 

(65,575

)

 

 

 

20.06

 

Outstanding at July 16, 2022

 

 

881,385

 

 

$

 

21.98

 

Summary of Share-based Payment Expense Recognized as a Reduction of Net Sales in Condensed Consolidated Statements of Operations

Share-based payment expense recognized as a reduction of “Net sales” in the condensed consolidated statements of earnings, and related tax benefits were as follows:

 

12 Weeks Ended

 

 

28 Weeks Ended

 

(In thousands)

July 16, 2022

 

 

July 17, 2021

 

 

July 16, 2022

 

 

July 17, 2021

 

Warrant expense

$

 

481

 

 

$

 

430

 

 

$

 

1,154

 

 

$

 

1,075

 

Income tax benefit

 

 

(42

)

 

 

 

(37

)

 

 

 

(126

)

 

 

 

(95

)

Warrant expense, net of tax

$

 

439

 

 

$

 

393

 

 

$

 

1,028

 

 

$

 

980

 

Summary of Stock Warrant Activity

The following table summarizes stock warrant activity for the 28 weeks ended July 16, 2022:

 

 

 

 

 

Warrant

 

Outstanding and nonvested at January 1, 2022

 

 

 

 

 

3,914,833

 

Vested

 

 

 

 

 

(217,492

)

Outstanding and nonvested at July 16, 2022

 

 

 

 

 

3,697,341