Share-Based Arrangements

9 Months Ended

Sep. 28, 2012

SHARE BASED ARRANGEMENTS [Abstract]

Share-based Arrangements

SHARE-BASED ARRANGEMENTS

General

The Company accounts for stock options and restricted stock as equity awards whereas the stock appreciation rights and employee stock purchase plan are accounted for as liability awards. Compensation expense for stock options and restricted stock awards is recognized on a straight-line basis over the vesting period of the awards.

The following table summarizes share-based compensation expense recorded during each period presented:

	For the Three Months Ended				For the Nine Months Ended
	September 28, 2012		September 30, 2011		September 28, 2012		September 30, 2011
In thousands
Stock options	$	403	$	351	$	1,474	$	1,385
Restricted stock awards	711		627		3,007		3,912
Stock appreciation rights	—		—		—		179
Employee stock purchase plan	115		87		328		244
Total share-based compensation	$	1,229	$	1,065	$	4,809	$	5,720

Stock option activity is as follows:

	For the Three Months Ended				For the Nine Months Ended
	September 28, 2012				September 28, 2012
	Options		Weighted - average exercise price		Options		Weighted - average exercise price
Options outstanding at beginning of period	1,090,204		$	25.45	979,658		$	23.35
Granted	—		—		181,620		33.59
Exercised	(98,767	)	20.47		(154,198	)	19.29
Forfeited or expired	—		—		(15,643	)	17.66
Options outstanding at September 28, 2012	991,437		25.95		991,437		25.95

The fair value of each option award is estimated on the date of grant using the Black-Scholes option valuation model. The following table indicates the weighted-average assumptions used in estimating fair value:

	For the Three Months Ended						For the Nine Months Ended
	September 28, 2012			September 30, 2011			September 28, 2012			September 30, 2011
Expected option term (years)							5.4			6.5
Expected volatility	—		%	—		%	46.5		%	43.9		%
Risk-free interest rate	—		%	—		%	0.9		%	2.9		%
Expected dividend yield	—		%	—		%	1.9		%	2.2		%
Per share fair value of options granted	$	—		$	—		$	12.00		$	12.05

No stock options were granted during the three months ended September 28, 2012 and September 30, 2011.

12. SHARE-BASED ARRANGEMENTS (CONTINUED)

Restricted Stock activity is as follows:

	For the Three Months Ended				For the Nine Months Ended
	September 28, 2012				September 28, 2012
	Restricted  Stock Awards		Weighted- average grant date fair value		Restricted  Stock Awards		Weighted- average grant date fair value
Restricted Stock outstanding at beginning of period	293,879		$	28.00	309,533		$	25.74
Granted	—		—		94,392		33.67
Vested	(17,623	)	29.06		(125,867	)	26.98
Forfeited or expired	—		—		(1,802	)	23.54
Restricted Stock outstanding at September 28, 2012	276,256		27.94		276,256		27.94