Stock-Based Compensation (Tables)

9 Months Ended

Jan. 23, 2016

Stock-Based Compensation

Summary of total stock-based compensation expense

	Quarter Ended					Nine Months Ended
(Unaudited, amounts in thousands)	1/23/16			1/24/15		1/23/16			1/24/15
Equity-based awards expense	$	1,745		$	1,047	$	6,868		$	6,094
Liability-based awards (income) expense	(1,645		)	3,322		(577		)	3,695
Total stock-based compensation expense	$	100		$	4,369	$	6,291		$	9,789

Fair value assumptions for stock options

(Unaudited)	7/25/15
Risk-free interest rate	1.54		%
Dividend rate	1.20		%
Expected life in years	5.0
Stock price volatility	44.37		%
Fair value per share	$	9.69

Fair value assumptions for SARs

(Unaudited)	Fiscal 2014  grant			Fiscal 2013  grant
Risk-free interest rate	0.98		%	0.65		%
Dividend rate	1.87		%	1.87		%
Expected life in years	2.40			1.48
Stock price volatility	28.39		%	25.69		%
Fair value per share	$	4.37		$	8.98