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Stockholders Equity
 12 Months Ended
Sep. 26, 2015
Stockholders Equity [Abstract]  
Stockholders Equity

12. Stockholders' Equity

Equity Incentive Plans

In fiscal 2015, the Company adopted the 2015 Berry Plastics Group, Inc. Long-Term Incentive Plan ("2015 Plan") to align its incentive plans with plans of similar public companies by permitting for, among other things, the issuance of performance-based awards. The 2015 Plan authorized the issuance of 7,500,000 shares, an increase of approximately 5 million over the remaining available for grant at the time of adoption. As of the adoption of the 2015 Plan, no shares were permitted to be issued any other previous Incentive Plans.

The Company recognized total stock-based compensation expense of $21 million, $15 million, and $16 million for fiscal 2015, 2014 and 2013. The intrinsic value of options exercised in fiscal 2015 was $41 million.

Information related to the equity incentive plans as of the fiscal year end is as follows:

 
 
​ ​ ​
2015
 ​ ​
2014
 ​
​ ​ ​
Number Of 
Shares 
(in thousands)
 ​ ​
Weighted 
Average 
Exercise Price
 ​ ​
Number Of 
Shares 
(in thousands)
 ​ ​
Weighted 
Average 
Exercise Price
 ​
Options outstanding, beginning of period
 ​ ​ ​
​
10,504
 ​ ​ ​ ​
$
13.13
 ​ ​ ​ ​ ​ 10,035 ​ ​ ​ ​ $ 9.96 ​ ​
Options granted
 ​ ​ ​
​
2,839
 ​ ​ ​ ​
​
28.78
 ​ ​ ​ ​ ​ 2,727 ​ ​ ​ ​ ​ 21.02 ​ ​
Options exercised
 ​ ​ ​
​
(1,929)
 ​ ​ ​ ​
​
9.07
 ​ ​ ​ ​ ​ (2,137) ​ ​ ​ ​ ​ 8.19 ​ ​
Options forfeited or cancelled
 ​ ​ ​
​
(63)
 ​ ​ ​ ​
​
17.59
 ​ ​ ​ ​ ​ (121) ​ ​ ​ ​ ​ 15.20 ​ ​
Options outstanding, end of period
 ​ ​ ​
​
11,351
 ​ ​ ​ ​
$
17.71
 ​ ​ ​ ​ ​ 10,504 ​ ​ ​ ​ $ 13.13 ​ ​
Option price range at end of period
 ​ ​ ​
$
3.04 − 33.91
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 3.04 − 22.95 ​ ​ ​
Options exercisable at end of period
 ​ ​ ​
​
4,786
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5,098 ​ ​ ​
Options available for grant at period end
 ​ ​ ​
​
7,500
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5,349 ​ ​ ​
Weighted average fair value of options granted 
during period
 ​ ​ ​
$
9.51
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 7.53 ​ ​ ​
The fair value for options granted has been estimated at the date of grant using a Black-Scholes model, generally with the following weighted average assumptions:
 
 
     
2015
    
2014
    
2013
  
Risk-free interest rate
    
1.6 %
    
1.3%
    
.6%
  
Dividend yield
    
0.00 %
    
0.00%
    
0.00%
  
Volatility factor
    
.30
    
.33
    
.38
  
Expected option life
    
7 years
    
7 years
    
7 years
  

The following table summarizes information about the options outstanding as of fiscal 2015:

Range of Exercise 
Prices		    
Number 
Outstanding
    
Intrinsic 
Value of 
Outstanding
    
Weighted 
Remaining 
Contractual 
Life
    
Weighted 
Exercise 
Price
    
Number 
Exercisable
    
Intrinsic 
Value of 
Exercisable
    
Unrecognized 
Compensation
    
Weighted 
Recognition 
Period
  
$3.04 – 33.91
         11,351         $ 143      
8 years
       $ 17.71           4,786         $ 92         $ 25      
2 years