Share Based Compensation

3 Months Ended

Mar. 31, 2012

Share Based Compensation [Abstract]

Share Based Compensation

Note 3 – Share-Based Compensation:

Share-based compensation includes stock options and restricted stock unit awards and certain transactions under our Employee Stock Purchase Plan (the “ESPP”).   Share-based compensation expense is recognized based on grant date fair value of all options and restricted stock unit awards plus a discount on shares purchased by employees as a part of the ESPP.  The discount under the ESPP represents the difference between the grant date market value and the employee's purchase price.

There were no significant modifications to our share-based compensation plans during the fiscal three months ended March 31, 2012.

For the first quarter of fiscal 2012 and 2011, share-based compensation expense was $4.6 million and $3.6 million, respectively.

Stock Options

The following summarizes information concerning stock option grants during each of the first three months of fiscal 2012 and 2011:

	Fiscal three months ended
	March 31, 2012		March 26, 2011
Stock options granted		544,991		524,455
Weighted average exercise price	$	85.08	$	51.70
Weighted average fair value per option	$	26.11	$	17.61

As of March 31, 2012, total unrecognized compensation expense related to non-vested stock options was approximately $20.6 million with a remaining weighted average expense recognition period of 1.5 years.

Restricted Stock Units

The following summarizes information concerning restricted stock unit grants during each of the first three months of fiscal 2012 and 2011:

	Fiscal three months ended
	March 31, 2012		March 26, 2011
Restricted stock units granted		33,951		53,012
Weighted average fair value per share	$	85.08	$	51.70

As of March 31, 2012, total unrecognized compensation expense related to non-vested restricted stock units was approximately $5.0 million with a remaining weighted average expense recognition period of 1.7 years.