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Share-based Compensation | 12 Months Ended
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Dec. 25, 2012
Share-based Compensation |
Share-based Compensation | (13) Share-based Compensation In May 2004, we adopted an equity incentive plan (the "Plan") for eligible participants. This Plan amended and restated the 1997 Texas Roadhouse Management Corp. Stock Option Plan. The Plan provides for granting of incentive and non-qualified stock options to purchase shares of common stock, stock bonus awards (restricted stock unit awards ("RSUs")) and restricted stock awards. The Plan provides for the issuance of 16,000,000 shares of common stock plus an annual increase to be added on the first day of the year for a period of ten years, commencing on January 1, 2005 and ending on (and including) January 1, 2014, equal to the lesser of one percent of the shares of common stock outstanding or 1,000,000 shares of common stock. Options are exercisable at various periods ranging from one to ten years from the date of grant. Beginning in 2008, we changed the method by which we provide share-based compensation to our employees by eliminating stock option grants and, instead, granting RSUs as a form of share-based compensation. An RSU is the conditional right to receive one share of common stock upon satisfaction of the service-based vesting requirement. The following table summarizes the share-based compensation recorded in the accompanying consolidated statements of income and comprehensive income:
|  | Fiscal Year Ended |
--- | --- | --- | ---
|  | December 25, 2012 |  | December 27, 2011 |  | December 28, 2010 |
Labor expense |  | $ | 4,570 |  | $ | 3,905 |  | $ | 3,364 |
General and administrative expense |  |  | 8,623 |  |  | 6,620 |  |  | 4,322 |
Total share-based compensation expense |  | $ | 13,193 |  | $ | 10,525 |  | $ | 7,686 |
A summary of share-based compensation activity by type of grant as of December 25, 2012 and changes during the period then ended is presented below. Summary Details for Plan Share Options
|  | Shares |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term (years) |  | Aggregate Intrinsic Value |
--- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Outstanding at December 27, 2011 |  |  | 3,486,642 |  | $ | 12.02 |  |  |  |  |  |  |
Granted |  |  | — |  |  | — |  |  |  |  |  |  |
Forfeited |  |  | (112,471 | ) |  | 11.74 |  |  |  |  |  |  |
Exercised |  |  | (1,115,250 | ) |  | 9.57 |  |  |  |  |  |  |
Outstanding at December 25, 2012 |  |  | 2,258,921 |  | $ | 13.24 |  |  | 2.99 |  | $ | 8,613 |
Exercisable at December 25, 2012 |  |  | 2,258,921 |  | $ | 13.24 |  |  | 2.99 |  | $ | 8,613 |
No stock options were granted during the fiscal years ended December 25, 2012, December 27, 2011 and December 28, 2010. The total intrinsic value of options exercised during the years ended December 25, 2012, December 27, 2011 and December 28, 2010 was $8.7 million, $3.0 million and $9.6 million, respectively. The total grant date fair value of stock options vested during the years ended December 25, 2012, December 27, 2011 and December 28, 2010 was $0.2 million, $0.7 million and $1.3 million, respectively. For the years ended December 25, 2012, December 27, 2011 and December 28, 2010, cash received before tax withholdings from options exercised was $10.7 million, $5.0 million and $11.0 million, respectively. The excess tax benefit realized from tax deductions associated with options exercised for the years ended December 25, 2012, December 27, 2011 and December 28, 2010 was $3.6 million, $2.3 million and $3.2 million, respectively. Summary Details for RSUs
|  | Shares |  | Weighted-Average Grant Date Fair Value |
--- | --- | --- | --- | --- | ---
Outstanding at December 27, 2011 |  |  | 1,186,480 |  | $ | 13.71 |
Granted |  |  | 1,356,462 |  |  | 16.13 |
Forfeited |  |  | (55,814 | ) |  | 14.33 |
Vested |  |  | (683,614 | ) |  | 13.15 |
Outstanding at December 25, 2012 |  |  | 1,803,514 |  | $ | 15.73 |
As of December 25, 2012, with respect to unvested RSUs, there was $15.0 million of unrecognized compensation cost that is expected to be recognized over a weighted-average period of 1.4 years. The vesting terms of the RSUs range from approximately 1.0 to 5.0 years. The total fair value of RSUs vested during the years ended December 25, 2012, December 27, 2011 and December 28, 2010 was $11.6 million, $11.0 million and $8.7 million, respectively.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 + Details
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