Stock-Based Compensation (Tables)

3 Months Ended

Mar. 29, 2022

Stock-Based Compensation

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
	Weeks Ended		Weeks Ended
	March 29, 2022		March 30, 2021
Labor expenses	$	2,190	$	2,043
Other operating costs and expenses		76		74
General and administrative expenses		3,252		3,327
Total stock-based compensation		5,518		5,444
Income tax benefit		1,355		1,337
Total stock-based compensation, net of taxes	$	4,163	$	4,107
Capitalized stock-based compensation (1)	$	57	$	39

(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

We did not issue any stock options during the first quarter of fiscal 2022 or fiscal 2021. Stock option activity during the thirteen weeks ended March 29, 2022 was as follows:

				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 28, 2021	1,716	$	46.14	5.1	$	0
Granted	—		—
Exercised	(2)		40.16
Forfeited or cancelled	(29)		48.19
Outstanding at March 29, 2022	1,685	$	46.11	4.9	$	0
Exercisable at March 29, 2022	1,114	$	48.09	4.0	$	0

(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
	Shares	Fair Value
	(In thousands)	(Per share)
Outstanding at December 28, 2021	2,123	$	44.82
Granted	642		39.59
Vested	(258)		48.16
Forfeited	(34)		43.13
Outstanding at March 29, 2022	2,473	$	43.13