STOCK-BASED COMPENSATION

3 Months Ended

Mar. 30, 2013

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

NOTE 8 STOCK-BASED COMPENSATION

The total stock-based compensation expense included in the Company’s consolidated statements of income and comprehensive income was as follows:

	Three Months Ended
	March 30,		March 31,
(In thousands)	2013		2012
Cost of sales	$	209	$	117
Selling, general and administrative expenses	1,820		1,839
Research and development expense	240		258
	$	2,269	$	2,214

At March 30, 2013, the total compensation cost related to unvested stock-based awards granted to employees, officers and directors under the Company’s stock-based benefit plans that had not yet been recognized was $7.6 million (net of estimated forfeitures of $1.5 million).  This future compensation expense will be amortized over a weighted-average period of 1.4 years using the straight-line attribution method.  The actual compensation expense that the Company will recognize in the future related to unvested stock-based awards outstanding at March 30, 2013 will be adjusted for actual forfeitures.

At March 30, 2013, 0.7 million stock options with a weighted-average exercise price of $14.58 per share, intrinsic value of $1.5 million and remaining contractual term of 1.4 years were outstanding and were exercisable.  At March 30, 2013, 1.4 million stock-settled stock appreciation rights with a weighted-average base value of $11.47 per share, intrinsic value of $8.0 million and remaining contractual term of 4.4 years were outstanding, and 0.8 million stock-settled stock appreciation rights with a weighted-average base value of $7.23 per share, intrinsic value of $7.5 million and remaining contractual term of 3.4 years were exercisable.