Stock-Based Compensation

6 Months Ended

Jul. 04, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

We currently have a single stock incentive plan, the 2011 Incentive Plan, amended during the second quarter of 2013, for the granting of equity-based incentive awards. We grant time- and/or performance-vested restricted stock and/or restricted stock units, in addition to stock options, to key employees and members of our Board of Directors. The performance measures for vesting of restricted stock and restricted stock units for grants to management for the periods presented are based on earnings growth, return on invested capital, total shareholder return, income from operations as a percent of revenue and income before tax. Awards granted under the 2011 Incentive Plan were as follows:



	Thirteen Weeks Ended				Twenty-six Weeks Ended
	July 4, 2015		June 28, 2014		July 4, 2015		June 28, 2014
Stock options granted ^(a)	839		639		839		700
Restricted stock and restricted stock units granted^(a)	1,329		1,276		1,347		1,363

Stock-based compensation expense	$	11,015	$	8,574	$	17,529	$	16,460
Related income tax benefit	$	3,632	$	2,720	$	5,813	$	5,426

Exercised stock options	332		149		370		695
Vested restricted stock and/or restricted stock units ^(b)	1,393		414		1,408		841

(a) As of July 4, 2015, approximately 9,942 shares were available for grant under the 2011 Incentive Plan, taking into account granted options, time-vested restricted stock units/awards and performance-vested restricted stock units assuming maximum achievement.

(b) Includes 1,015 and 0 shares, for the thirteen weeks ended July 4, 2015 and June 28, 2014, respectively, and 1,015 and 145 shares, for the twenty-six weeks ended July 4, 2015 and June 28, 2014, respectively, which were issued based on performance-based grants previously approved by the Human Resources Committee of the Board of Directors. The remainder of the shares are time-based grants.