Share Based Compensation

6 Months Ended

Jun. 29, 2013

Share-Based Compensation:

Share-based compensation includes stock option 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 the Company's share-based compensation plans during the fiscal six months ended June 29, 2013.

For the second quarters of fiscal 2013 and 2012, share-based compensation expense was $3.5 million and $4.8 million, respectively, and $6.9 million and $9.3 million for the first six months of fiscal 2013 and 2012, respectively.

Stock Options

The following summarizes information concerning stock option grants during the first six months of fiscal 2013 and 2012:



	Fiscal six months ended
	June 29, 2013		June 30, 2012
Stock options granted	507,713		560,477
Weighted average exercise price	$	103.43	$	85.45
Weighted average fair value per option	$	29.30	$	26.22

As of June 29, 2013, total unrecognized compensation expense related to non-vested stock options was approximately $22.5 million with a remaining weighted average expense recognition period of 1.4 years.

Restricted Stock Units

The following summarizes information concerning restricted stock unit grants during the first six months of fiscal 2013 and 2012:



	Fiscal six months ended
	June 29, 2013		June 30, 2012
Restricted stock units granted	29,932		40,017
Weighted average fair value per share	$	103.43	$	87.10

As of June 29, 2013, 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.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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