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Share Based Compensation | 9 Months Ended
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Sep. 25, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract] |
Share Based Compensation | Share-Based Compensation: Share-based compensation includes stock options, restricted stock units, performance-based restricted share units, and transactions under our Employee Stock Purchase Plan (the “ESPP”). Share-based compensation expense is recognized based on grant date fair value of all stock options, restricted stock units, and performance-based restricted share units plus a 15% discount on shares purchased by employees as a part of the ESPP. The discount under the ESPP represents the difference between the purchase date market value and the employee’s purchase price. There were no significant modifications to the Company’s share-based compensation plans during the fiscal nine months ended September 25, 2021. Share-based compensation expense was $12.5 million for the third quarter of fiscal 2021 and 2020, and $35.7 million and $27.0 million for the first nine months of fiscal 2021 and fiscal 2020, respectively. Stock Options The following table summarizes information concerning stock option grants during the first nine months of fiscal 2021:
| Fiscal Nine Months Ended
| September 25, 2021
Stock options granted | 247,832 |
Weighted average exercise price | $ | 145.59 |
Weighted average grant date fair value per option | $ | 30.71 |
As of September 25, 2021, total unrecognized compensation expense related to non-vested stock options was approximately $10.1 million with a remaining weighted average expense recognition period of 2.0 years. Restricted Stock Units and Performance-Based Restricted Share Units The following table summarizes information concerning restricted stock unit and performance-based restricted share unit grants during the first nine months of fiscal 2021:
| Fiscal Nine Months Ended
| September 25, 2021
Restricted stock units granted | 271,249 |
Performance-based restricted share units granted (a) | 60,058 |
Weighted average grant date fair value per share | $ | 144.09 |
(a) Assumes 100% target level achievement of the relative performance targets. In the first nine months of fiscal 2021, the Company granted performance-based restricted share unit awards that are subject to the achievement of specified performance goals. The performance metrics for the units are growth in net sales and growth in earnings per diluted share and also include a relative total shareholder return modifier. The number of performance-based restricted share units presented in the foregoing table represent the shares that can be achieved at the performance metric target value. The actual number of shares that will be issued under the performance-based restricted share unit awards, which may be higher or lower than the target, will be determined by the level of achievement of the performance goals and the relative total shareholder return modifier. If the performance targets are achieved, the units will be issued based on the achievement level, inclusive of the relative total shareholder return modifier, and the grant date fair value and will cliff vest in full on the third anniversary of the date of the grant. As of September 25, 2021, total unrecognized compensation expense related to non-vested restricted stock units and non-vested performance-based restricted share units was approximately $63.3 million with a remaining weighted average expense recognition period of 2.1 years.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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- References No definition available. + Details
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