SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 29, 2014

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

Schedule of Authorized Number of Shares

The 2012 Stock Plan authorized 2,400,000 shares for issuance as follows:

2012 Stock Plan	Authorized Shares
Stock Options	1,680,000
Stock/Stock Unit Awards	720,000

The Company also maintains the Amended and Restated Franklin Electric Co., Inc. Stock Plan (the "2009 Stock Plan") which, as amended in 2009, provided for discretionary grants of stock options and stock awards. The 2009 Stock Plan authorized 4,400,000 shares for issuance as follows:

2009 Stock Plan	Authorized Shares
Stock Options	3,200,000
Stock Awards	1,200,000

Schedule of Assumptions Used to Determine the Fair Value of Options Granted

The assumptions used for the Black-Scholes model to determine the fair value of options granted during the first quarter ended March 29, 2014, are as follows:

	March 29, 2014		March 30, 2013
Risk-free interest rate	1.68	%	1.03	%
Dividend yield	0.70	%	0.89	%
Volatility factor	0.387		0.394
Expected term	5.6 years		6.0 years
Forfeiture rate	3.81	%	4.52	%

Schedule of Stock Option Plans Activity

A summary of the Company’s outstanding stock option activity and related information for the first quarters ended March 29, 2014 and March 30, 2013 is as follows:

(Shares in thousands)	March 29, 2014				March 30, 2013
Stock Options	Shares		Weighted-Average Exercise Price		Shares		Weighted-Average Exercise Price
Outstanding at beginning of period	1,476		$	19.01	2,184		16.69
Granted	93		43.27		176		32.53
Exercised	(34	)	18.57		(307	)	13.43
Forfeited	(2	)	26.95		—		—
Outstanding at end of period	1,533		$	20.48	2,053		18.54
Expected to vest after applying forfeiture rate	1,511		$	20.31	2,022		$	18.39
Vested and exercisable at end of period	1,070		$	16.34	1,457		$	15.82

A summary of the weighted-average remaining contractual term and aggregate intrinsic value for the first quarter ended March 29, 2014 is as follows:

(In millions)	Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value (000's)
Outstanding at end of period	5.81 years	$	32,598
Expected to vest after applying forfeiture rate	5.76 years	32,426
Vested and exercisable at end of period	4.61 years	27,068

Schedule of Restricted Stock/Stock Unit Award Activity

A summary of the Company’s restricted stock/stock unit award activity and related information for the first quarters ended March 29, 2014 and March 30, 2013 is as follows:

(Shares in thousands)	March 29, 2014				March 30, 2013
Stock/Stock Unit Awards	Shares		Weighted-Average Grant- Date Fair Value		Shares			Weighted-Average Grant- Date Fair Value
Non-vested at beginning of period	551		$	24.75	$	458		$	20.90
Awarded	172		43.37		141			32.53
Vested	(110	)	15.75		(35		)	17.21
Forfeited	(56	)	27.81		(1		)	18.89
Non-vested at end of period	557		$	31.96	$	563		$	24.04