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INCENTIVE COMPENSATION | 9 Months Ended
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Sep. 27, 2015
INCENTIVE COMPENSATION [Abstract] |
INCENTIVE COMPENSATION | 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 $19.4 million in costs related to the STIP at September 27, 2015 related to cash bonus awards that could potentially be awarded during the remainder of 2015 and 2016. 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 of Directors 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 September 27, 2015, we have reserved approximately 5.1 million shares of common stock for future issuance under the LTIP. The following awards were outstanding during the thirty-nine weeks ended September 27, 2015:
Award Type |  | Benefit Plan |  | Awards Granted |  | Grant Date |  | Grant Date Fair Value per Award(a) |  | Vesting Condition |  | Vesting Date |  | Vesting Date Fair Value per Award(a) |  | Estimated Forfeiture Rate |  | Awards Forfeited to Date |  | Settlement Method
RSU |  | LTIP |  | 608,561 |  |  | 02/04/2013 |  | $ | 8.89 |  |  | Service |  | 12/31/2014 |  | $ | 32.79 |  |  | 9.66 | % |  | 144,382 |  |  | Stock
RSA |  | LTIP |  | 15,000 |  |  | 02/25/2013 |  | 8.72 |  |  | Service |  | 02/24/2015 |  | 27.55 |  |  | — | % |  | — |  |  | Stock
RSA |  | LTIP |  | 15,000 |  |  | 02/25/2013 |  | 8.72 |  |  | Service |  | 02/24/2016 |  |  |  | — | % |  | 15,000 |  |  | Stock
RSU |  | LTIP |  | 206,933 |  |  | 02/26/2013 |  | 8.62 |  |  | Service |  | 12/31/2014 |  | 32.79 |  |  | — | % |  | — |  |  | Stock
RSU |  | LTIP |  | 462,518 |  |  | 02/19/2014 |  | 16.70 |  |  | Service |  | 12/31/2016 |  |  |  | 13.49 | % |  | 61,669 |  |  | Stock
RSU |  | LTIP |  | 269,662 |  |  | 03/03/2014 |  | 17.18 |  |  | Performance / Service |  | 12/31/2017 |  |  |  | 12.34 | % |  | 23,499 |  |  | Stock
RSU |  | LTIP |  | 158,226 |  |  | 02/26/2015 |  | 27.51 |  |  | Performance / Service |  | 12/31/2018 |  |  |  | (b) |  |  | 13,158 |  |  | Stock
(a) | The fair value of each RSA and RSU granted or vested represents the closing price of the Company's common stock on the respective grant date or vesting date.
(b) | The estimated forfeiture rate for these awards will be set if or when performance conditions associated with the awards are satisfied.
Compensation costs and the income tax benefit recognized for our share-based compensation arrangements are included below:
| Thirteen Weeks Ended |  | Thirty-Nine Weeks Ended
| September 27, 2015 |  | September 28, 2014 |  | September 27, 2015 |  | September 28, 2014
| (In thousands)
Share-based compensation cost: |  |  |  |  |  |  |
Cost of sales | $ | 166 |  |  | $ | 60 |  |  | $ | 431 |  |  | $ | 231 |
Selling, general and administrative expense | 698 |  |  | 1,067 |  |  | 1,701 |  |  | 3,273 |
Total | $ | 864 |  |  | $ | 1,127 |  |  | $ | 2,132 |  |  | $ | 3,504 |
Income tax benefit | $ | 261 |  |  | $ | 156 |  |  | $ | 620 |  |  | $ | 672 |
The Company’s RSA and RSU activity is included below:
| Thirty-Nine Weeks Ended September 27, 2015 |  | Thirty-Nine Weeks Ended September 28, 2014
| Number |  | Weighted Average Grant Date Fair Value |  | Number |  | Weighted Average Grant Date Fair Value
| (In thousands, except weighted average fair values)
RSAs: |  |  |  |  |  |  |
Outstanding at beginning of period | 30 |  |  | $ | 8.72 |  |  | 203 |  |  | $ | 6.59 |
Vested | (15 | ) |  | 8.72 |  |  | (173 | ) |  | 6.22 |
Forfeited | (15 | ) |  | 8.72 |  |  | — |  |  | — |
Outstanding at end of period | — |  |  | $ | — |  |  | 30 |  |  | $ | 8.72 |
RSUs: |  |  |  |  |  |  |
Outstanding at beginning of period | 1,120 |  |  | $ | 11.97 |  |  | 729 |  |  | $ | 8.81 |
Granted | 428 |  |  | 21.00 |  |  | 462 |  |  | 16.70 |
Vested | (671 | ) |  | 8.81 |  |  | — |  |  | — |
Forfeited | (85 | ) |  | 18.51 |  |  | (71 | ) |  | 10.34 |
Outstanding at end of period | 792 |  |  | $ | 18.83 |  |  | 1,120 |  |  | $ | 11.97 |
The total fair value of awards vested during the thirty-nine weeks ended September 27, 2015 and September 28, 2014 was $22.4 million and $3.2 million, respectively. At September 27, 2015, the total unrecognized compensation cost related to all nonvested awards was $10.0 million. That cost is expected to be recognized over a weighted average period of 2.39 years. Historically, we have issued new shares to satisfy award conversions.

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