Share-Based Compensation (Tables)

3 Months Ended

Mar. 29, 2014

The Company used the following assumptions for the Black-Scholes option-pricing model to determine the fair value of options granted during the three months ended March 29, 2014 and March 30, 2013:


	Three Months Ended
	March 29, 2014			March 30, 2013
Risk-free interest rate		1.10	%		0.55	%

Expected dividend yield		0	%		0	%

Expected option life		4 years			4 years

Expected volatility		42.5	%		48.4	%

Weighted-average expected volatility		42.5	%		48.4	%

Summary of Stock Option Activity

A summary of stock option activity and weighted-average exercise prices for the three months ended March 29, 2014 follows:


	Options			Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value as of March 29, 2014
Outstanding at January 1, 2014		814,291		$	39.56
Granted		213,229			57.54
Forfeited		(4,001	)		46.57
Exercised		(43,826	)		36.95

Outstanding at March 29, 2014		979,693		$	43.52		4.8	$	9,917


Options exercisable at March 29, 2014		539,644		$	36.49		3.7	$	8,631

Summary of Restricted Stock Activity

The following table summarizes the restricted stock and restricted stock unit activity and weighted average grant-date fair values for the three months ended March 29, 2014:


	Shares			Weighted-Average Grant Date Fair Value
Non-vested at January 1, 2014		31,448		$	41.39
Granted		832			57.54
Forfeited		—			—
Vested		(2,382	)		42.57

Non-vested at March 29,2014		29,898		$	41.74