Stock-Based Compensation (Tables)

6 Months Ended

Oct. 24, 2020

Share-based Payment Arrangement [Abstract]

Summary of total stock-based compensation expense

The table below summarizes the total stock-based compensation expense we recognized for all outstanding grants in our consolidated statement of income:

	Quarter Ended				Six Months Ended
(Unaudited, amounts in thousands)	10/24/20		10/26/19		10/24/20		10/26/19
Equity-based awards expense	$	4,120	$	3,032	$	6,167	$	4,707
Liability-based awards expense	754		400		1,338		340
Total stock-based compensation expense	$	4,874	$	3,432	$	7,505	$	5,047

Fair value assumptions for stock options

The fair value of stock options granted during the first quarter of fiscal 2021 was calculated using the following assumptions:

(Unaudited)	Fiscal 2021 grant			Assumption
Risk-free interest rate	0.34		%	U.S. Treasury issues with term equal to expected life at grant date
Dividend rate	0		%	Estimated future dividend rate and common share price at grant date
Expected life	5 years			Contractual term of stock option and expected employee exercise trends
Stock price volatility	41.79		%	Historical volatility of our common shares
Fair value per share	$	10.06