STOCK-BASED COMPENSATION

3 Months Ended

Mar. 29, 2014

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

NOTE 9        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 29,		March 30,
(In thousands)	2014		2013
Cost of sales	$	212	$	209
Selling, general and administrative expenses	1,836		1,820
Research and development expense	289		240
	$	2,337	$	2,269

At March 29, 2014, 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 $11.3 million, net of estimated forfeitures.  This future compensation expense will be amortized over a weighted-average period of 1.7 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 29, 2014 will be adjusted for actual forfeitures.

At March 29, 2014, 0.3 million stock options with a weighted-average exercise price of $13.48 per share, intrinsic value of $1.8 million and remaining contractual term of 0.9 years were outstanding and were exercisable.  At March 29, 2014, 1.8 million stock-settled stock appreciation rights with a weighted-average base value of $12.44 per share, intrinsic value of $13.6 million and remaining contractual term of 4.4 years were outstanding, of which 0.9 million stock-settled stock appreciation rights with a weighted-average base value of $9.83 per share, intrinsic value of $8.8 million and remaining contractual term of 3.0 years were exercisable.