Stock-Based Compensation

6 Months Ended

Oct. 26, 2013

Stock-Based Compensation

(13) Stock-Based Compensation

For the 13 and 26 weeks ended October 26, 2013 and October 27, 2012, the Company recognized stock-based compensation expense in selling and administrative expenses as follows:

	13 weeks ended					26 weeks ended
	October 26, 2013			October 27, 2012		October 26, 2013			October 27, 2012
Restricted Stock Expense	$	584			4,564	$	1,293			8,191
Restricted Stock Units Expense		1,042			764		5,994			1,470
Stock Option Expense		(167	)		614		(1,606	)		1,321
Stock-Based Compensation Expense	$	1,459			5,942	$	5,681			10,982

On July 8, 2013, the Company announced that William J. Lynch, Jr. resigned from the Company’s Board of Directors and as Chief Executive Officer of the Company, effective immediately. In connection with his termination of employment on July 8, 2013, Mr. Lynch received full vesting in respect of 275,846 restricted stock units granted by the Company to Mr. Lynch, which had an aggregate value of $4,968. As a result of his resignation, Mr. Lynch also forfeited 166,667 shares of restricted stock units and 1,000,000 stock options, which had an aggregate forfeiture value of $1,119 and $1,690, respectively. The net stock compensation cost for this resignation was $1,883 and was recorded in selling and administrative expenses during the 13 weeks ended July 27, 2013.