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Share Based Compensation
 3 Months Ended
Mar. 29, 2014
Share-based Compensation [Abstract]  
Share Based Compensation
Share-Based Compensation:

Share-based compensation includes stock option and restricted stock unit awards and certain transactions under our Employee Stock Purchase Plan (the “ESPP”).   Share-based compensation expense is recognized based on grant date fair value of all options and restricted stock unit awards plus a discount on shares purchased by employees as a part of the ESPP.

There were no significant modifications to the Company's share-based compensation plans during the fiscal three months ended March 29, 2014.

For the first quarters of fiscal 2014 and 2013, share-based compensation expense was $3.9 million and $3.4 million, respectively.

Stock Options

The following summarizes information concerning stock option grants during the first three months of fiscal 2014 and 2013:
 
Fiscal three months ended
 
March 29,
2014
 
March 30,
2013
Stock options granted
1,106,609

 
986,726

Weighted average exercise price
$
63.86

 
$
51.66

Weighted average fair value per option
$
15.32

 
$
14.66



As of March 29, 2014, total unrecognized compensation expense related to non-vested stock options was approximately $28.0 million with a remaining weighted average expense recognition period of 1.6 years.

Restricted Stock Units

The following summarizes information concerning restricted stock unit grants during the first three months of fiscal 2014 and 2013:
 
Fiscal three months ended
 
March 29,
2014
 
March 30,
2013
Restricted stock units granted
45,866

 
48,580

Weighted average fair value per share
$
64.00

 
$
51.50



As of March 29, 2014, total unrecognized compensation expense related to non-vested restricted stock units was approximately $4.7 million with a remaining weighted average expense recognition period of 2.3 years.