Stock-Based Awards

6 Months Ended

Sep. 10, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Awards

NOTE 8—STOCK-BASED AWARDS

The Company recognized pre-tax stock-based compensation expense (included primarily in Selling and administrative expenses in the Condensed Consolidated Statements of Operations) related to stock options, restricted stock units, restricted stock awards and performance share units (collectively referred to as “stock-based awards”) of $6, $6, $10 and $13 for the second quarters of fiscal 2017 and 2016, and for fiscal 2017 and 2016 year-to-date, respectively.

Stock Options

In April 2016 and April 2015, the Company granted 1 and 4 non-qualified stock options, respectively, to certain employees under the Company’s 2012 Stock Plan with weighted average grant date fair values of $2.67 per share and $3.67 per share, respectively. The stock options vest over a period of three years and were awarded as part of a broad-based employee incentive program designed to retain and motivate employees across the Company.

The Company used the Black-Scholes option pricing model to estimate the fair value of the options at grant date based upon the following assumptions:

	Year-To-Date Ended
	September 10,   2016   (28 weeks)		September 12,   2015   (28 weeks)
Dividend yield	—	%	—%
Volatility rate	54.2	%	49.0—50.6%
Risk-free interest rate	1.3	%	1.2—1.4%
Expected life	5.0 years		4.0—5.0 years

Restricted Stock and Restricted Stock Units

In fiscal 2017 year-to-date, the Company granted 4 restricted stock units ("RSUs") to certain employees under the 2012 Stock Plan. The RSUs vest over a three year period from the date of the grant and were granted at a fair value of $5.64 per award. In fiscal 2016 year-to-date, the Company granted 2 restricted stock awards (“RSAs”) to certain employees under the 2012 Stock Plan. The RSAs vest over a three year period from the date of grant and were granted at a fair value of $8.79 per unit.

Performance Share Units

In fiscal 2017 year-to-date, the Company granted 1 performance share units (“PSUs”) to certain employees under the 2012 Stock Plan. The PSUs have a fiscal 2017-2019 performance period and settle in shares of the Company’s stock. The Company used the Monte Carlo method to estimate the fair value of the PSUs at grant date based upon the following assumptions:

	Year-To-Date Ended
	September 10,   2016   (28 weeks)
Dividend yield	—	%
Volatility rate	41.3	%
Risk-free interest rate	0.9	%
Expected life	2.8 years