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Share Based Compensation
 3 Months Ended
Apr. 01, 2017
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 April 1, 2017.

For the first quarters of fiscal 2017 and 2016, share-based compensation expense was $7.6 million and $5.3 million, respectively.

Stock Options

The following summarizes information concerning stock option grants during the first three months of fiscal 2017 and 2016:
 
Fiscal three months ended
 
April 1,
2017
 
March 26,
2016
Stock options granted
1,499,549

 
1,085,225

Weighted average exercise price
$
73.18

 
$
86.08

Weighted average fair value per option
$
14.75

 
$
19.60



As of April 1, 2017, total unrecognized compensation expense related to non-vested stock options was approximately $37.3 million with a remaining weighted average expense recognition period of 2.1 years.

Restricted Stock Units

The following summarizes information concerning restricted stock unit grants during the first three months of fiscal 2017 and 2016:
 
Fiscal three months ended
 
April 1,
2017
 
March 26,
2016
Restricted stock units granted
63,915

 
49,161

Weighted average fair value per share
$
69.30

 
$
82.85



As of April 1, 2017, total unrecognized compensation expense related to non-vested restricted stock units was approximately $8.1 million with a remaining weighted average expense recognition period of 1.9 years.