Share Based Compensation

9 Months Ended

Sep. 30, 2017

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 nine months ended September 30, 2017.

For the third quarters of fiscal 2017 and 2016, share-based compensation expense was $7.9 million and $6.1 million, respectively, and $22.9 million and $17.3 million for the first nine months of fiscal 2017 and 2016, respectively.

Stock Options

The following table summarizes information concerning stock option grants during the first nine months of fiscal 2017 and 2016:



	Fiscal nine months ended
	September 30, 2017		September 24, 2016
Stock options granted	1,619,280		1,134,121
Weighted average exercise price	$	72.16	$	86.41
Weighted average fair value per option	$	14.57	$	19.62

As of September 30, 2017, total unrecognized compensation expense related to non-vested stock options was approximately $25.0 million with a remaining weighted average expense recognition period of 2.0 years.

Restricted Stock Units

The following table summarizes information concerning restricted stock unit grants during the first nine months of fiscal 2017 and 2016:



	Fiscal nine months ended
	September 30, 2017		September 24, 2016
Restricted stock units granted	85,049		59,019
Weighted average fair value per share	$	66.34	$	84.25

As of September 30, 2017, total unrecognized compensation expense related to non-vested restricted stock units was approximately $5.6 million with a remaining weighted average expense recognition period of 1.7 years.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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