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Share-based Compensation | 12 Months Ended
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Dec. 27, 2016
Share-based Compensation |
Share-based Compensation | (12) Share‑based Compensation On May 16, 2013, our stockholders approved the Texas Roadhouse, Inc. 2013 Long-Term Incentive Plan (the "Plan"). The Plan provides for the granting of incentive and non-qualified stock options to purchase shares of common stock, stock appreciation rights, and full value awards, including restricted stock, restricted stock units ("RSUs"), deferred stock units, performance stock and performance stock units ("PSUs"). This plan replaced the Texas Roadhouse, Inc. 2004 Equity Incentive Plan. The following table summarizes the share‑based compensation recorded in the accompanying consolidated statements of income and comprehensive income:
|  |  | Fiscal Year Ended |
|  |  | December 27, |  | December 29, |  | December 30, |
|  |  | 2016 |  | 2015 |  | 2014 |
Labor expense |  |  | $ | 6,124 |  | $ | 5,329 |  | $ | 5,523 |
General and administrative expense |  |  |  | 19,943 |  |  | 17,496 |  |  | 9,360 |
Total share-based compensation expense |  |  | $ | 26,067 |  | $ | 22,825 |  | $ | 14,883 |
Beginning in 2008, we changed the method by which we provide share-based compensation to our employees by granting RSUs as a form of share-based compensation. Prior to 2008, we issued stock options as share-based compensation to our employees. Beginning in 2015, we began granting PSUs to two of our executives. An RSU is the conditional right to receive one share of common stock upon satisfaction of the vesting requirement. A PSU is the conditional right to receive one share of common stock upon meeting a performance obligation along with the satisfaction of the vesting requirement. Share‑based compensation activity by type of grant as of December 27, 2016 and changes during the period then ended are presented below. Summary Details for RSUs
|  |  |  | Weighted-Average |  | Weighted-Average |  |  |  |
|  |  |  | Grant Date Fair |  | Remaining Contractual |  | Aggregate |
|  | Shares |  | Value |  | Term (years) |  | Intrinsic Value |
Outstanding at December 29, 2015 |  | 984,586 |  | $ | 32.86 |  |  |  |  |  |
Granted |  | 497,329 |  |  | 41.19 |  |  |  |  |  |
Forfeited |  | (35,854) |  |  | 34.15 |  |  |  |  |  |
Vested |  | (526,598) |  |  | 33.31 |  |  |  |  |  |
Outstanding at December 27, 2016 |  | 919,463 |  | $ | 37.06 |  | 1.2 |  | $ | 45,574 |
As of December 27, 2016, with respect to unvested RSUs, there was $17.8 million of unrecognized compensation cost that is expected to be recognized over a weighted-average period of 1.2 years. The vesting terms of the RSUs range from approximately 1.0 to 5.0 years. The total intrinsic value of RSUs vested during the years ended December 27, 2016, December 29, 2015 and December 30, 2014 was $21.5 million, $25.1 million and $20.4 million, respectively. The excess tax benefit realized from tax deductions associated with vested restricted stock units for the years ended December 27, 2016, December 29, 2015 and December 30, 2014 was $1.5 million, $2.8 million and $1.4 million, respectively. Summary Details for PSUs In 2015 and 2016, we granted PSUs to two of our executives subject to a one-year vesting and the achievement of certain earnings targets, which determine the number of units to vest at the end of the vesting period. Share-based compensation is recognized for the number of units expected to vest at the end of the period and is expensed beginning on the grant date and through the performance period. For each grant, PSUs vest after meeting the performance and service conditions. On January 8, 2015 we granted PSUs with a grant date fair value of approximately $4.0 million based on the grant date price per share of $34.77. On January 8, 2016, 144,000 shares vested related to this PSU grant and were distributed during the 13 weeks ended March 29, 2016. On November 19, 2015 we granted PSUs with a grant date fair value of approximately $3.9 million based on the grant date price per share of $34.11. On January 8, 2017, 188,237 shares vested related to this PSU grant and are expected to be distributed during the 13 weeks ending March 28, 2017. On November 9, 2016 we granted PSUs with a grant date fair value of $4.6 million based on a grant date price per share of $39.88. As of December 27, 2016, with respect to unvested PSUs, there was $4.2 million of unrecognized compensation cost that is expected to be recognized over a weighted-average period of 1.0 year. Summary Details for Stock Options
|  |  |  | Weighted- |  | Weighted-Average |  |  |  |
|  |  |  | Average Exercise |  | Remaining Contractual |  | Aggregate |
|  | Shares |  | Price |  | Term (years) |  | Intrinsic Value |
Outstanding at December 29, 2015 |  | 328,498 |  | $ | 13.10 |  |  |  |  |  |
Granted |  | — |  |  | — |  |  |  |  |  |
Cancelled/Expired |  | (1,981) |  |  | 14.61 |  |  |  |  |  |
Exercised |  | (208,444) |  |  | 12.82 |  |  |  |  |  |
Outstanding at December 27, 2016 |  | 118,073 |  | $ | 13.57 |  | 0.5 |  | $ | 4,250 |
Exercisable at December 27, 2016 |  | 118,073 |  | $ | 13.57 |  | 0.5 |  | $ | 4,250 |
No stock options were granted or vested during the fiscal years ended December 27, 2016, December 29, 2015 and December 30, 2014. The total intrinsic value of options exercised during the years ended December 27, 2016, December 29, 2015 and December 30, 2014 was $6.3 million, $6.5 million and $6.1 million, respectively. For the years ended December 27, 2016, December 29, 2015 and December 30, 2014, cash received before tax withholdings from options exercised was $2.7 million, $4.7 million and $5.3 million, respectively. The excess tax benefit realized from tax deductions associated with options exercised for the years ended December 27, 2016, December 29, 2015 and December 30, 2014 was $1.8 million, $1.7 million and $1.5 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 FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65895303&loc=d3e17540-113929 Reference 2: 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=68057994&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 4: 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 5: 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 6: 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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