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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 28, 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		Thirty-Nine		Thirty-Nine
	Weeks Ended		Weeks Ended		Weeks Ended		Weeks Ended
	September 28, 2021		September 29, 2020		September 28, 2021		September 29, 2020

Labor expenses	$	2,137	$	1,868	$	6,240	$	5,761
Other operating costs and expenses		72		70		218		209
General and administrative expenses		3,185		2,979		9,871		9,563
Total stock-based compensation		5,394		4,917		16,329		15,533
Income tax benefit		1,325		1,208		4,010		3,815
Total stock-based compensation, net of taxes	$	4,069	$	3,709	$	12,319	$	11,718

Capitalized stock-based compensation ⁽¹⁾	$	48	$	52	$	137	$	143

(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
		Average		Contractual	Aggregate
	Shares	Exercise Price		Term	Intrinsic 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 September 28, 2021	1,716	$	46.14	5.4	$	6,586

Exercisable at September 28, 2021	864	$	48.97	3.8	$	1,573

(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	580		50.75
Vested	(278)		47.76
Forfeited	(182)		43.78
Outstanding at September 28, 2021	2,128	$	45.08