The following table summarizes information regarding options exercised:

(In thousands)	Thirteen Weeks Ended July 28, 2012		Thirteen Weeks Ended July 30, 2011		Twenty-six Weeks Ended July 28, 2012		Twenty-six Weeks Ended July 30, 2011
Total intrinsic value⁽¹⁾	$	751	$	307	$	1,390	$	365
Total cash received	$	515	$	297	$	1,542	$	348
Associated excess income tax benefits recorded	$	80	$	117	$	433	$	139

(1)

Defined as the difference between the market value at exercise and the grant price of stock options exercised.

The following table summarizes information regarding outstanding and exercisable options at July 28, 2012:

	Options Outstanding and Exercisable
Range of Exercise Price	Number of Options Outstanding	Weighted Average Remaining Life	Weighted Average Exercise Price
$7.63 — 8.45	84,710	1.48	$ 8.30
$9.12 — 10.73	32,249	3.37	$10.21

The following table summarizes information regarding stock-based compensation expense recognized for non-vested options:

(In thousands)	Thirteen Weeks Ended July 28, 2012		Thirteen Weeks Ended July 30, 2011		Twenty-six Weeks Ended July 28, 2012		Twenty-six Weeks Ended July 30, 2011
Stock-based compensation expense before the recognized income tax benefit	$	0	$	8	$	0	$	17
Income tax benefit⁽¹⁾	$	0	$	3	$	0	$	6

(1)

Income tax benefit was calculated using an adjusted effective tax rate. The adjusted rate removes the tax effects from the favorable resolution of certain tax positions.

No stock options have been granted since fiscal 2008. All outstanding options had vested as of the end of fiscal 2011; therefore no unrecognized compensation expense remains.

Restricted Stock Awards

The following table summarizes the share transactions for our restricted stock awards:

	Number of Shares			Weighted- Average Grant Date Fair Value
Non-vested at January 28, 2012		277,145		$	17.31
Granted		245,654			17.73
Vested		(2,250	)		17.66
Forfeited or expired		(29,265	)		15.81
Non-vested at July 28, 2012		491,284		$	17.61

The weighted-average grant date fair value of stock awards granted during the twenty-six week periods ended July 28, 2012 and July 30, 2011 was $17.73 and $17.08, respectively. The total fair value at grant date of previously non-vested stock awards that vested during the first half of fiscal 2012 was $40,000. The total fair value at grant date of previously non-vested stock awards that vested during the first half of fiscal 2011 was $5.8 million. Of the 29,265 restricted stock awards that were forfeited or that expired during the first six months, 22,539 shares were restricted stock awards that expired unvested, as the performance measure was not achieved. These awards represented the third tier of the restricted stock granted on March 13, 2006 that expired in the first quarter of fiscal 2012.

The following table summarizes information regarding stock-based compensation expense recognized for restricted stock awards:

(In thousands)	Thirteen Weeks Ended July 28, 2012		Thirteen Weeks Ended July 30, 2011		Twenty-six Weeks Ended July 28, 2012		Twenty-six Weeks Ended July 30, 2011
Stock-based compensation expense before the recognized income tax benefit	$	2,108	$	522	$	2,718	$	1,655
Income tax benefit⁽¹⁾	$	813	$	200	$	1,043	$	632

(1)

Income tax benefit was calculated using an adjusted effective tax rate. The adjusted rate removes the tax effects from the favorable resolution of certain tax positions.

During the fourth quarter of fiscal 2011, stock-based compensation expense was reduced by $716,000 due to the reversal of cumulative prior period expense for performance-based awards that management deemed were not probable to vest prior to their expiration. However, based on our improved financial outlook, a cumulative catch-up of $789,000 in expense was recorded during the second quarter of fiscal 2012 as management now deems that these awards are probable to vest prior to their expiration.

As of July 28, 2012, approximately $5.0 million of unrecognized compensation expense remained related to both our performance-based and service-based non-vested stock awards. This expense is expected to be recognized over a weighted average period of approximately 1.3 years. This incorporates our current assumptions with respect to the estimated requisite service period required to achieve the designated performance conditions for performance-based stock awards.

Cash-Settled Stock Appreciation Rights (SARs)

Cash-settled stock appreciation rights (SARs) have typically been granted to certain non-executive employees such that one-third of the shares underlying the SARs would vest and become fully exercisable on each of the first three anniversaries of the date of the grant. The SARs were assigned a five-year term from the date of grant. Each SAR entitles the holder, upon exercise, to receive cash in an amount equal to the closing price of our stock on the date of exercise less the exercise price, with a maximum amount of gain defined. SARs were granted during the first quarter of fiscal 2012 and issued with a defined maximum gain of $6.67 over the exercise price of $17.17. In accordance with current authoritative guidance, cash-settled SARs are classified as Other liabilities on the Condensed Consolidated Balance Sheets.

The following table summarizes the SARs activity:

	Number of Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)
Outstanding at January 28, 2012		0	$	0.00
Granted		135,375		17.17
Forfeited or expired		0		0.00
Exercised		0		0.00
Outstanding at July 28, 2012		135,375	$	17.17		4.50
Exercisable at July 28, 2012		0	$	0.00		0.00

The fair value of these liability awards is remeasured at each reporting period until the date of settlement. Increases or decreases in stock-based compensation expense are recognized over the vesting period, or immediately for vested awards. The weighted-average fair value of outstanding, non-vested SAR awards was $3.57 as of July 28, 2012.

The fair value was estimated using a trinomial lattice model with the following assumptions:

				July 28, 2012
Risk free interest rate yield curve				0.07% – 0.65%
Expected dividend yield				1.0%
Expected volatility				59.66%
Maximum life				4.51 Years
Exercise multiple				1.19
Maximum payout				$6.67
Employee exit rate				2.2% – 9.0%

The risk free interest rate was based on the U.S. Treasury yield curve in effect at the end of the reporting period. The expected dividend yield was based on our initial cash dividend in the second quarter of fiscal 2012, with the assumption that quarterly dividends would continue at the current rate. Expected volatility was based on the historical volatility of our stock. The exercise multiple and employee exit rate are based on historical option data.

The following table summarizes information regarding stock-based compensation expense recognized for SARs:

(In thousands)	Thirteen Weeks Ended July 28, 2012		Thirteen Weeks Ended July 30, 2011		Twenty-six Weeks Ended July 28, 2012		Twenty-six Weeks Ended July 30, 2011
Stock-based compensation expense before the recognized income tax benefit	$	80	$	60	$	149	$	132
Income tax benefit⁽¹⁾	$	31	$	23	$	57	$	50

(1)

Income tax benefit was calculated using an adjusted effective tax rate. The adjusted rate removes the tax effects from the favorable resolution of certain tax positions.

As of July 28, 2012, approximately $328,000 in unrecognized compensation expense remained related to non-vested SARs. This expense is expected to be recognized over a weighted-average period of approximately 1.5 years.

Employee Stock Purchase Plan

The following table summarizes information regarding stock-based compensation expense recognized for the employee stock purchase plan:

(In thousands)	Thirteen Weeks Ended July 28, 2012		Thirteen Weeks Ended July 30, 2011		Twenty-six Weeks Ended July 28, 2012		Twenty-six Weeks Ended July 30, 2011
Stock-based compensation expense before the recognized income tax benefit⁽¹⁾	$	9	$	7	$	21	$	19
Income tax benefit⁽²⁾	$	3	$	3	$	8	$	7

(1)

Amounts are representative of the 15% discount employees are provided for purchases under the employee stock purchase plan.

(2)

Income tax benefit was calculated using an adjusted effective tax rate. The adjusted rate removes the tax effects from the favorable resolution of certain tax positions.