O. Net Income per Share

Net Income per Common Share — Basic

The following table sets forth the computation of basic net income per share using the two-class method:


	December 26,		December 27,		December 28,
	2015		2014		2013
	(in thousands, except per share data)
Net Income	$	98,414	$	90,743	$	70,392

Allocation of net income for basic:
Class A Common Stock	$	71,798	$	64,027	$	47,847
Class B Common Stock		26,154		26,207		22,035
Unvested participating shares		462		509		510

	$	98,414	$	90,743	$	70,392
Weighted average number of shares for basic:
Class A Common Stock		9,619		9,202		8,741
Class B Common Stock*		3,504		3,766		4,025
Unvested participating shares		62		73		93

		13,185		13,041		12,859
Net income per share for basic:
Class A Common Stock	$	7.46	$	6.96	$	5.47

Class B Common Stock	$	7.46	$	6.96	$	5.47

*	Change in Class B Common Stock resulted from the conversion of 150,000 shares to Class A Common Stock on May 6, 2015 and 100,000 shares to Class A Common Stock on October 26, 2015, with the 52-week number of shares reflecting the weighted average for the period.

Net Income per Common Share — Diluted

The Company calculates diluted net income per share for common stock using the more dilutive of (1) the treasury stock method, or (2) the two-class method, which assumes the participating securities are not exercised or converted.

The following tables set forth the computation of diluted net income per share, assuming the conversion of all Class B Common Stock into Class A Common Stock and using the two-class method for unvested participating shares:


	Fifty-two weeks ended December 26, 2015
	Earnings to
	Common
	Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported — basic	$	71,798		9,619	$	7.46
Add: effect of dilutive potential common shares Share-based awards		—		397
Class B Common Stock		26,154		3,504
Net effect of unvested participating shares		14

Net income per common share — diluted	$	97,966		13,520	$	7.25

	Fifty-two weeks ended December 27, 2014
	Earnings to
	Common
	Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported — basic	$	64,027		9,202	$	6.96
Add: effect of dilutive potential common shares Share-based awards		—		516
Class B Common Stock		26,207		3,766
Net effect of unvested participating shares		19		—

Net income per common share — diluted	$	90,253		13,484	$	6.69


	Fifty-two weeks ended December 28, 2013
	Earnings to
	Common
	Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported — basic	$	47,847		8,741	$	5.47
Add: effect of dilutive potential common shares Share-based awards		—		738
Class B Common Stock		22,035		4,025
Net effect of unvested participating shares		28		—

Net income per common share — diluted	$	69,910		13,504	$	5.18

Basic net income per common share for each share of Class A Common Stock and Class B Common Stock is $7.46, $6.96 and $5.47 for the fiscal years 2015, 2014, and 2013, respectively, as each share of Class A and Class B participates equally in earnings. Shares of Class B are convertible at any time into shares of Class A on a one-for-one basis at the option of the stockholder.

Weighted average stock options to purchase 16,000, 11,000, and 15,000 shares of Class A Common Stock were outstanding during fiscal 2015, 2014, and 2013, respectively, but not included in computing diluted income per share because their effects were anti-dilutive. Additionally, performance-based stock options to purchase 15,000, 30,000, and 40,000 shares of Class A Common Stock were outstanding during fiscal 2015, 2014, and 2013, respectively, but not included in computing dilutive income per share because the performance criteria of these stock options were not met as of December 26, 2015, December 27, 2014 and December 28, 2013, respectively.