Share Based Compensation

6 Months Ended

Jun. 27, 2015

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 six months ended June 27, 2015.

For the second quarters of fiscal 2015 and 2014, share-based compensation expense was $4.8 million and $4.2 million, respectively and $9.8 million and $8.1 million for the first six months of fiscal 2015 and 2014, respectively.

Stock Options

The following summarizes information concerning stock option grants during the first six months of fiscal 2015 and 2014:



	Fiscal six months ended
	June 27, 2015		June 28, 2014
Stock options granted	1,025,356		1,117,089
Weighted average exercise price	$	83.23	$	63.89
Weighted average fair value per option	$	19.43	$	15.33

As of June 27, 2015, total unrecognized compensation expense related to non-vested stock options was approximately $27.8 million with a remaining weighted average expense recognition period of 1.5 years.

Restricted Stock Units

The following summarizes information concerning restricted stock unit grants during the first six months of fiscal 2015 and 2014:



	Fiscal six months ended
	June 27, 2015		June 28, 2014
Restricted stock units granted	50,473		56,650
Weighted average fair value per share	$	84.02	$	64.52

As of June 27, 2015, total unrecognized compensation expense related to non-vested restricted stock units was approximately $8.3 million with a remaining weighted average expense recognition period of 2.4 years.