Note 12 - Stock-Based Compensation

12 Months Ended

Dec. 30, 2012

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

12. Stock-Based Compensation

Under the Equity Incentive Plan (the “Plan”), the Company may grant stock options (both incentive and nonqualified), stock appreciation rights, restricted stock and performance awards to key employees utilizing the Company’s Class A stock.  The Plan provides that the maximum number of shares available for grants is 10 percent of the outstanding Class A stock, adjusted for Plan activity over the preceding five years.  Shares available for future grants at year-end 2012 under the Plan were 1,608,520.  The Company issues shares out of treasury stock to satisfy stock-based awards.  The Company has no intent to repurchase additional shares for the purpose of satisfying stock-based awards.

In 2012, 2011 and 2010, the Company recognized stock-based compensation cost of $6.0 million, $5.7 million and $4.2 million, respectively, as well as related tax benefits of $2.3 million, $2.2 million and $1.6 million, respectively.

Restricted Stock

Restricted stock, which typically vests over a period of 3 to 5 years, is issued to certain key employees and is subject to forfeiture until the end of an established restriction period.  The Company utilizes the market price on the date of grant as the fair market value of restricted stock and expenses the fair value on a straight-line basis over the vesting period.

A summary of the status of nonvested restricted stock under the Plan as of year-end 2012 and changes during this period is presented as follows:

	Restricted Stock			Weighted Average Grant Date Fair Value
Nonvested at year-end 2011		907,990		$	17.41
Granted		512,400			12.98
Vested		(319,640	)		17.88
Forfeited		(38,225	)		15.89
Nonvested at year-end 2012		1,062,525		$	15.19

As of year-end 2012, unrecognized compensation cost related to unvested restricted stock totaled $13.6 million.  The weighted average period over which this cost is expected to be recognized is approximately two years.  The weighted average grant date fair value per share of restricted stock granted during 2012, 2011 and 2010 was $12.98, $16.84 and $18.08, respectively.  The total fair market value of restricted stock, which vested during 2012, 2011 and 2010 was $4.1 million, $3.7 million and $3.4 million, respectively.

Stock Options

Under the terms of the Plan, stock options may not be granted at prices less than the fair market value on the date of grant, nor for a term exceeding 10 years, and typically vest over 3 years.  The Company expenses the fair value of stock option grants on a straight-line basis over the vesting period.  No stock options were granted in 2012, 2011 and 2010.

A summary of the status of stock option grants under the Plan as of year-end 2012 and changes during this period is presented as follows:

	Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at year-end 2011		515,699		$	25.41
Granted		-			-
Exercised		-			-
Forfeited		-			-
Expired		(123,100	)		23.01
Outstanding at year-end 2012		392,599		$	26.16		1.08	$	-
Options exercisable at year-end 2012		392,599		$	26.16		1.08	$	-

The table above includes 46,500 of non-employee director shares outstanding at year-end 2012.

As of year-end 2012, there was no unrecognized compensation cost related to unvested stock options.  No stock options were exercised in 2012, 2011 and 2010.

Windfall tax benefits, which were included in the “Other financing activities” component of net cash from financing activities in the consolidated statement of cash flows, were insignificant for 2012, 2011 and 2010.