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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 29, 2021

Schedule of information related to stock-based compensation, net of forfeitures

The following table presents information related to stock-based compensation, net of forfeitures (in thousands):


	Thirteen		Thirteen		Twenty-Six		Twenty-Six
	Weeks Ended		Weeks Ended		Weeks Ended		Weeks Ended
	June 29, 2021		June 30, 2020		June 29, 2021		June 30, 2020

Labor expenses	$	2,061	$	1,926	$	4,103	$	3,893
Other operating costs and expenses		72		70		146		139
General and administrative expenses		3,359		3,114		6,686		6,585
Total stock-based compensation		5,492		5,110		10,935		10,617
Income tax benefit		1,349		1,255		2,685		2,608
Total stock-based compensation, net of taxes	$	4,143	$	3,855	$	8,250	$	8,009

Capitalized stock-based compensation ⁽¹⁾	$	49	$	52	$	88	$	91

(1)

It is our policy to capitalize the portion of stock-based compensation costs for our internal development department that relates to capitalizable activities such as the design and construction of new restaurants, remodeling existing locations and equipment installation. Capitalized stock-based compensation is included in property and equipment, net on the condensed consolidated balance sheets.

Schedule of stock option activity


				Weighted-
				Average
		Weighted-		Remaining	Aggregate
		Average		Contractual	Intrinsic
	Shares	Exercise Price		Term	Value⁽¹⁾
	(In thousands)	(Per share)		(In years)	(In thousands)
Outstanding at December 29, 2020	2,294	$	45.35	5.0	$	307
Granted	—		—
Exercised	(577)		42.97
Forfeited or cancelled	(1)		61.59
Outstanding at June 29, 2021	1,716	$	46.14	5.6	$	12,215

Exercisable at June 29, 2021	861	$	48.98	4.0	$	4,089

(1)

Aggregate intrinsic value is calculated as the difference between our closing stock price at fiscal period end and the exercise price, multiplied by the number of in-the-money options and represents the pre-tax amount that would have been received by the option holders, had they all exercised their options on the fiscal period end date.

Schedule of restricted share and restricted share unit activity


		Weighted-
		Average
		Fair
	Shares	Value
	(In thousands)	(Per share)
Outstanding at December 29, 2020	2,008	$	43.70
Granted	480		50.50
Vested	(232)		47.98
Forfeited	(144)		44.87
Outstanding at June 29, 2021	2,112	$	44.69