Equity Compensation (Tables)

12 Months Ended

Dec. 25, 2016

Equity Compensation

Schedule of Information Pertaining to Option Activity

Information pertaining to option activity during 2016 is as follows (number of options and aggregate intrinsic value in thousands):

				Weighted
				Average
		Weighted		Remaining
	Number	Average		Contractual	Aggregate
	of	Exercise		Term	Intrinsic
	Options	Price		(In Years)	Value
Outstanding at December 27, 2015	1,419	$	35.10
Granted	403		59.35
Exercised	(478)		22.57
Cancelled	(28)		58.47
Outstanding at December 25, 2016	1,316	$	46.58	7.50	$	53,153
Exercisable at December 25, 2016	652	$	32.91	6.30	$	35,233

Summary of the Significant Assumptions Used in Estimating the Fair Value of Options Granted

The following is a summary of the significant assumptions used in estimating the fair value of options granted in 2016, 2015 and 2014:

	2016		2015		2014
Assumptions (weighted average):
Risk-free interest rate	1.3	%	1.6	%	1.8	%
Expected dividend yield	1.2	%	0.9	%	1.0	%
Expected volatility	27.4	%	28.5	%	35.7	%
Expected term (in years)	5.5		5.5		6.0

Schedule of Information Pertaining to Restricted Stock Activity

The fair value of both time-based restricted stock and performance-based restricted stock units is based on the market price of the Company’s shares on the grant date. Information pertaining to these awards during 2016 is as follows (shares in thousands):

		Weighted
		Average
		Grant-Date
	Shares	Fair Value
Total as of December 27, 2015	184		51.21
Granted	99		59.57
Incremental Performance Shares*	—		—
Forfeited	(7)		58.80
Vested	(91)		43.35
Total as of December 25, 2016	185	$	59.21

*No performance shares vested in 2016.