XML 54 R40.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Share Based Compensation Plans (Tables)
12 Months Ended
Dec. 29, 2019
Share-based Payment Arrangement [Abstract]  
Stock appreciation rights award activity
Twelve months ended December 29, 2019
Stock Appreciation Rights
 
Aggregate Intrinsic Value (in thousands)
 
Weighted Average Exercise Price
 
Average Remaining Contractual Life (Years)
Outstanding, beginning of period
514,313

 
$
7,254

 
$
39.01

 
4.6
Granted
111,230

 
 
 
57.29

 
 
Exercised
(212,767
)
 
9,379

 
19.68

 
 
Forfeited
(8,329
)
 
 
 
67.24

 
 
Outstanding, end of period
404,447

 
$
7,615

 
$
53.62

 
4.7
 
 
 
 
 
 
 
 
Exercisable, end of period
230,440

 
$
5,675

 
$
47.92

 
2.5
Twelve months ended December 30, 2018
Stock Appreciation Rights
 
Aggregate Intrinsic Value (in thousands)
 
Weighted Average Exercise Price
 
Average Remaining Contractual Life (Years)
Outstanding, beginning of period
537,930

 
$
23,263

 
$
32.00

 
4.5
Granted
69,752

 
 
 
65.00

 
 
Exercised
(93,369
)
 
4,731

 
18.03

 
 
Outstanding, end of period
514,313

 
$
7,254

 
$
39.01

 
4.6
 
 
 
 
 
 
 
 
Exercisable, end of period
391,428

 
$
7,254

 
$
30.20

 
3.4
Twelve months ended December 31, 2017
Stock Appreciation Rights
 
Aggregate Intrinsic Value (in thousands)
 
Weighted Average Exercise Price
 
Average Remaining Contractual Life (Years)
Outstanding, beginning of period
790,290

 
$
32,659

 
$
24.47

 
4.6
Granted
59,265

 
 
 
77.00

 
 
Exercised
(281,444
)
 
16,378

 
17.96

 
 
Forfeited
(30,181
)
 
 
 
54.28

 
 
Outstanding, end of period
537,930

 
$
23,263

 
$
32.00

 
4.5
 
 
 
 
 
 
 
 
Exercisable, end of period
443,998

 
$
22,588

 
$
24.28

 
3.7

Schedule of Share-based Compensation, Stock Appreciation Rights, Valuation Assumptions The weighted average grant date assumptions used for the SARs granted were as follows for the periods indicated:
 
2019 Grants
 
2018 Grants
 
2017 Grants
SAR value (model conclusion)
$
12.26

 
$
18.63

 
$
22.65

Risk-free rate
2.2
%
 
2.7
%
 
2.0
%
Expected dividend yield
0.0
%
 
0.0
%
 
0.0
%
Expected volatility
21.9
%
 
22.8
%
 
25.8
%
Expected term (years)
6.0

 
6.0

 
6.0


Restricted stock units award activity
 
Year Ended
 
December 29, 2019
 
December 30, 2018
 
December 31, 2017
 
Total Restricted Stock Units Outstanding
 
Weighted Average Grant Date Fair Value
 
Total Restricted Stock Units Outstanding
 
Weighted Average Grant Date Fair Value
 
Total Restricted Stock Units Outstanding
 
Weighted Average Grant Date Fair Value
Outstanding, beginning of period
429,027

 
$
66.03

 
417,598

 
$
66.14

 
501,926

 
$
58.51

Granted
303,740

 
56.31

 
227,487

 
63.55

 
163,835

 
78.29

Performance adjustment (1)
(21,953
)
 
57.51

 
25,046

 
63.49

 
78,212

 
54.73

Delivered
(120,982
)
 
 
 
(169,830
)
 
 
 
(197,255
)
 
 
Withheld to cover (2)
(20,024
)
 
 
 
(45,117
)
 
 
 
(58,739
)
 
 
Forfeited
(46,601
)
 
 
 
(26,157
)
 
 
 
(70,381
)
 
 
Outstanding, end of period
523,207

 
$
59.58

 
429,027

 
$
66.03

 
417,598

 
$
66.14

____________
(1) Performance-based RSUs are presented as outstanding, granted and forfeited in the table above assuming targets are met and the awards pay out at 100%. These awards are settled with payouts ranging from zero to 200% of the target award value depending on achievement. The performance adjustment represents the difference in shares ultimately awarded due to performance attainment above or below target.
(2)
A portion of the vested RSUs delivered were net share settled to cover statutory requirements for income and other employment taxes. We remit the equivalent cash to the appropriate taxing authorities. These net share settlements had the effect of share repurchases by us as we reduced and retired the number of shares that would have otherwise been issued as a result of the vesting.