STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Oct. 08, 2016

Cash Received, Windfall Tax Benefits, and Intrinsic Value from Stock Option Exercises

As of October 8, 2016, compensation expense related to the NQSOs was fully amortized.  The cash received, the windfall tax benefit, and intrinsic value from stock option exercises for the forty weeks ended October 8, 2016 and October 10, 2015 were as follows (amounts in thousands):

	October 8, 2016		October 10, 2015
Cash received from option exercises	$	18,862	$	18,571
Cash tax windfall, net	$	2,462	$	7,282
Intrinsic value of stock options exercised	$	10,503	$	23,366

Payout Determined from Total Shareholder Return Shares

The Company TSR compared to the Peer Group TSR will determine the payout as set forth below:

Percentile	Payout as % of Target
90th		200	%
70th		150	%
50th		100	%
30th		50	%
Below 30th		0	%

Deferred and Restricted Stock Activity

The deferred stock activity for the forty weeks ended October 8, 2016 is set forth below (amounts in thousands, except price data):  

	Shares			Weighted Average Fair Value		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Nonvested shares at January 2, 2016		126		$	21.89
Vested		(72	)	$	21.59
Granted		95		$	19.30
Nonvested shares at October 8, 2016		149		$	20.39		0.61	$	1,335

Summary of Company's Stock Based Compensation Expense

The following table summarizes the company’s stock based compensation expense for the twelve and forty weeks ended October 8, 2016 and October 10, 2015, respectively (amounts in thousands):

	For the Twelve Weeks Ended				For the Forty Weeks Ended
	October 8, 2016		October 10, 2015		October 8, 2016			October 10, 2015
Performance-contingent restricted stock awards	$	3,220	$	1,811	$	13,335		$	11,457
Deferred and restricted stock		479		548		1,682			1,658
Stock appreciation rights		—		124		(12	)		176
Total stock based compensation	$	3,699	$	2,483	$	15,005		$	13,291

Stock Option

Stock Option Activity

The stock option activity for the forty weeks ended October 8, 2016 pursuant to the EPIP is set forth below (amounts in thousands, except price data):

	Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at January 2, 2016		4,353		$	10.97
Exercised		(1,716	)	$	10.99
Outstanding at October 8, 2016		2,637		$	10.95		0.91	$	9,907
Exercisable at October 8, 2016		2,637		$	10.95		0.91	$	9,907

Performance-Contingent Total Shareholder Return Shares

Performance Contingent TSR Shares, ROIC Shares and Restricted Stock Awards

The following performance-contingent TSR Shares have been granted under the Omnibus Plan and have service period remaining (amounts in thousands, except price data):

Grant date	January 3, 2016		January 4, 2015
Shares granted		401		414
Vesting date	2/21/2018		3/1/2017
Fair value per share	$	24.17	$	21.21

Performance-Contingent Restricted Stock Activity

Performance-Contingent Restricted Stock

The company’s performance-contingent restricted stock activity for the forty weeks ended October 8, 2016, is presented below (amounts in thousands, except price data):  

	Shares			Weighted Average Grant Date Fair Value
Nonvested shares at January 2, 2016		1,349		$	21.26
Initial grant at target		801		$	22.83
Grant reduction for not achieving the ROIC modifier		(14	)	$	21.47
Grant reduction for not achieving the TSR modifier		(249	)	$	23.97
Vested		(312	)	$	22.02
Forfeited		(26	)	$	23.60
Nonvested shares at October 8, 2016		1,549		$	21.53

Return On Invested Capital

Performance Contingent TSR Shares, ROIC Shares and Restricted Stock Awards

The following performance-contingent ROIC Shares have been granted under the Omnibus Plan and have service period remaining (amounts in thousands, except price data):

Grant date	January 3, 2016		January 4, 2015
Shares granted		401		414
Vesting date	2/21/2018		3/1/2017
Fair value per share	$	21.49	$	19.14