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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 25, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of Assumptions Used in Estimating Fair Value of Each Option Grant | The fair value of each option grant made in 2021, 2020 and 2019 was estimated using the following assumptions:
| 2021 |  | 2020 |  | 2019
Expected volatility | 33.01 | % |  | 33.72 | % |  | 33.13 | %
Risk-free interest rate | 1.26 | % |  | 0.43 | % |  | 1.69 | %
Expected life from vesting date | 4.0 yrs |  | 4.0 yrs |  | 3.0 yrs
Dividend yield | 1.20 | % |  | 1.24 | % |  | 1.07 | %
Summary of Activity of Stock Plans | Following is a summary of the stock option activity during 2019, 2020 and 2021:
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at December 29, 2018 | 578,413 |  |  | $ | 127.74 |  |  |  |  |
Granted | 57,648 |  |  | 147.31 |  |  |  |  |
Exercised | (119,789) |  |  | 113.02 |  |  |  |  |
Forfeited | (27,712) |  |  | 137.07 |  |  |  |  |
Outstanding at December 28, 2019 | 488,560 |  |  | $ | 133.13 |  |  | 4.04 |  | $ | 9,291 |
Options vested or expected to vest at December 28, 2019 | 478,575 |  |  | $ | 133.21 |  |  | 3.99 |  | 9,078 |
Options exercisable at December 28, 2019 | 341,828 |  |  | $ | 133.32 |  |  | 3.19 |  | 6,470 |
The weighted average per share fair value of options granted during 2019 was $37.85.
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at December 28, 2019 | 488,560 |  |  | $ | 133.13 |  |  |  |  |
Granted | 66,231 |  |  | 168.80 |  |  |  |  |
Exercised | (147,014) |  |  | 125.43 |  |  |  |  |
Forfeited | (8,212) |  |  | 137.49 |  |  |  |  |
Outstanding at December 26, 2020 | 399,565 |  |  | $ | 141.79 |  |  | 4.88 |  | $ | 12,103 |
Options vested or expected to vest at December 26, 2020 | 389,633 |  |  | $ | 141.56 |  |  | 4.81 |  | 11,890 |
Options exercisable at December 26, 2020 | 254,498 |  |  | $ | 138.64 |  |  | 3.38 |  | 8,510 |
The weighted average per share fair value of options granted during 2020 was $45.49.
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at December 26, 2020 | 399,565 |  |  | $ | 141.79 |  |  |  |  |
Granted | 47,223 |  |  | 252.89 |  |  |  |  |
Exercised | (169,908) |  |  | 135.76 |  |  |  |  |
Forfeited | (416) |  |  | 132.84 |  |  |  |  |
Outstanding at December 25, 2021 | 276,464 |  |  | $ | 164.48 |  |  | 5.88 |  | $ | 22,586 |
Options vested or expected to vest at December 25, 2021 | 268,338 |  |  | $ | 163.42 |  |  | 5.80 |  | 22,188 |
Options exercisable at December 25, 2021 | 154,860 |  |  | $ | 142.15 |  |  | 4.00 |  | 15,896 |
The weighted average per share fair value of options granted during 2021 was $67.81.
Schedule of Non-Vested Stock and Restricted Stock Units | During fiscal 2021, 2020 and 2019, the Company granted restricted stock units to directors and certain management employees as follows (which are not included in the above stock plan activity tables):
| 2021 |  | 2020 |  | 2019
Shares granted | 216,971 |  |  | 85,251 |  |  | 78,318 |
Weighted‑average per share price on grant date | $ | 236.28 |  |  | $ | 161.73 |  |  | $ | 145.89 |
Recognized compensation expense | $ | 16,147 |  |  | $ | 9,081 |  |  | $ | 8,815 |
During the second half of 2021, the Company granted 159,982 restricted shares, worth $36,916, to certain employees of Prospera. These restricted shares vest in equal installments over four years, and require the employees to continue employment over those four years. As such, the related compensation expense will be incurred over the vesting period. At December 25, 2021 the amount of deferred stock‑based compensation granted, to be recognized over a weighted‑average period of 3.21 years, was approximately $55,838.
Share-based Payment Arrangement, Performance Shares, Outstanding Activity | During fiscal 2021, 2020 and 2019, the Company granted PSU awards as follows (which are not included in the above stock plan activity tables):
| 2021 |  | 2020 |  | 2019
Shares granted | 41,060 |  |  | 35,181 |  |  | 31,344 |
Weighted‑average per share price on grant date | $ | 230.40 |  |  | $ | 125.41 |  |  | $ | 136.14 |
Recognized compensation expense | $ | 10,035 |  |  | $ | 3,165 |  |  | $ | — |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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