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INCENTIVE COMPENSATION | 3 Months Ended
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Mar. 30, 2014
INCENTIVE COMPENSATION [Abstract] |
INCENTIVE COMPENSATION | 13. INCENTIVE COMPENSATION The Company sponsors a short-term incentive plan that provides the grant of either cash or share-based bonus awards payable upon achievement of specified performance goals (the "STIP"). Full-time, salaried exempt employees of the Company and its affiliates who are selected by the administering committee are eligible to participate in the STIP. The Company has accrued $2.9 million in costs related to the STIP at March 30, 2014 related to cash bonus awards that could potentially be awarded during the remainder of 2014 and 2015. The Company also sponsors a performance-based, omnibus long-term incentive plan that provides for the grant of a broad range of long-term equity-based and cash-based awards to the Company's officers and other employees, members of the Board and any consultants (the "LTIP"). The equity-based awards that may be granted under the LTIP include "incentive stock options," within the meaning of the Internal Revenue Code, nonqualified stock options, stock appreciation rights, restricted stock awards ("RSAs") and restricted stock units ("RSUs"). At March 30, 2014, we have reserved approximately 6.6 million shares of common stock for future issuance under the LTIP. The following awards existed during the thirteen weeks ended March 30, 2014:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | Estimated |  |
Award |  |  |  |  | Award |  |  |  | Vesting |  |  |  | Forfeiture |  | Settlement
Type |  |  | Benefit Plan |  | Quantity |  | Grant Date |  | Condition |  | Vesting Date |  | Rate |  | Method
|  |  |  |  | Employment |  |  |  |  |  |  |  |  |  |  |  |  |
| RSA |  |  |  | Agreement |  | 100,000 |  | January 14, 2011 |  | Service |  | January 3, 2014 |  | - | % |  | Stock
| RSA |  |  |  | LTIP |  | 72,675 |  | August 27, 2012 |  | Service |  | April 27, 2014 |  | - | % |  | Stock
| RSU |  |  |  | LTIP |  | 608,561 |  | February 4, 2013 |  | Service |  | December 31, 2014 |  | 9.66 | % |  | Stock
| RSA |  |  |  | LTIP |  | 15,000 |  | February 25, 2013 |  | Service |  | February 24, 2015 |  | - | % |  | Stock
| RSA |  |  |  | LTIP |  | 15,000 |  | February 25, 2013 |  | Service |  | February 24, 2016 |  | - | % |  | Stock
| RSU |  |  |  | LTIP |  | 206,933 |  | February 26, 2013 |  | Service |  | December 31, 2014 |  | - | % |  | Stock
| RSU |  |  |  | LTIP |  | 462,518 |  | February 19, 2014 |  | Service |  | December 31, 2016 |  | 13.49 | % |  | Stock
The fair value of each RSA and RSU granted represents the closing price of the Company's common stock on the respective grant date. Compensation costs and the income tax benefit recognized for our share-based compensation arrangements are included below:
|  | Thirteen Weeks Ended
|  | March 30, 2014 |  | March 31, 2013
|  | (In thousands)
Share-based compensation cost: |  |  |  |  |  |
Cost of sales |  | $ | 19 |  | $ | 57
Selling, general and administrative expense |  |  | 1,003 |  |  | 491
Total |  | $ | 1,022 |  | $ | 548
Income tax benefit |  | $ | 275 |  | $ | 126
The Company's RSA and RSU activity is included below:
| Thirteen Weeks Ended March 30, 2014 |  | Thirteen Weeks Ended March 31, 2013
|  |  |  | Weighted Average |  |  |  |  | Weighted Average
| Number |  | Grant Date Fair Value |  | Number |  | Grant Date Fair Value
| (In thousands, except weighted average fair values)
RSAs: |  |  |  |  |  |  |  |  |  |  |
Outstanding at beginning of period | 203 |  |  | $ | 6.59 |  | 273 |  |  | $ | 6.54
Granted | - |  |  |  | - |  | 30 |  |  |  | 8.72
Vested | (100 | ) |  |  | 7.10 |  | (100 | ) |  |  | 7.10
Outstanding at end of period | 103 |  |  | $ | 6.09 |  | 203 |  |  | $ | 6.59
RSUs: |  |  |  |  |  |  |  |  |  |  |
Outstanding at beginning of period | 729 |  |  | $ | 8.81 |  | - |  |  | $ | -
Granted | 462 |  |  |  | 16.70 |  | 815 |  |  |  | 8.820
Vested | - |  |  |  | - |  | - |  |  |  | -
Forfeited | (24 | ) |  |  | 8.89 |  | - |  |  |  | -
Outstanding at end of period | 1,167 |  |  | $ | 11.93 |  | 815 |  |  | $ | 8.82
The total fair value of shares vested during each of the thirteen weeks ended March 30, 2014 and March 31, 2013 was $710 thousand. At March 30, 2014, the total unrecognized compensation cost related to all nonvested awards was $11.1 million. That cost is expected to be recognized over a weighted average period of 2.10 years. Historically, we have issued new shares to satisfy award conversions.

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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 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 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 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: 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 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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