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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 27, 2016
Stock-Based Compensation  
Schedule of information related to stock-based compensation

 

The following table presents information related to stock-based compensation (in thousands):

 

 

 

Thirteen
Weeks Ended
September 27, 2016

 

Thirteen
Weeks Ended
September 29, 2015

 

Thirty-Nine
Weeks Ended
September 27, 2016

 

Thirty-Nine
Weeks Ended
September 29, 2015

 

 

 

 

 

 

 

 

 

 

 

Labor expenses

 

$

1,494 

 

$

1,638 

 

$

4,458 

 

$

4,740 

 

Other operating costs and expenses

 

61 

 

61 

 

186 

 

198 

 

General and administrative expenses

 

3,318 

 

3,173 

 

11,533 

 

9,611 

 

 

 

 

 

 

 

 

 

 

 

Total stock-based compensation

 

4,873 

 

4,872 

 

16,177 

 

14,549 

 

Income tax benefit

 

1,864 

 

1,864 

 

6,188 

 

5,565 

 

 

 

 

 

 

 

 

 

 

 

Total stock-based compensation, net of taxes

 

$

3,009 

 

$

3,008 

 

$

9,989 

 

$

8,984 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capitalized stock-based compensation (1)

 

$

104 

 

$

64 

 

$

253 

 

$

210 

 

 

(1)

It is our policy to capitalize the portion of stock-based compensation costs for our internal development and construction, legal, and facilities departments that relates to capitalizable activities such as the design and construction of new restaurants, remodeling existing locations, lease, intellectual property and liquor license acquisition activities and equipment installation.  Capitalized stock-based compensation is included in property and equipment, net and other assets on the condensed consolidated balance sheets.

Schedule of stock option activity

 

 

 

Shares

 

Weighted
Average
Exercise Price

 

Weighted
Average
Remaining
Contractual
Term

 

Aggregate
Intrinsic Value(1)

 

 

 

(In thousands)

 

(Per share)

 

(In years)

 

(In thousands)

 

Outstanding at December 29, 2015

 

3,066

 

$

30.00

 

3.6

 

$

52,416

 

Granted

 

225

 

50.26

 

 

 

 

 

Exercised

 

(857

)

22.06

 

 

 

 

 

Forfeited or cancelled

 

(32

)

40.96

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at September 27, 2016

 

2,402

 

$

34.59

 

3.8

 

$

40,479

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at September 27, 2016

 

1,510

 

$

28.59

 

2.6

 

$

34,504

 

 

(1)

Aggregate intrinsic value is calculated as the difference between our closing stock price at fiscal period end and the exercise price, multiplied by the number of in-the-money options and represents the pretax amount that would have been received by the option holders, had they all exercised their options on the fiscal period end date.

Schedule of restricted share and restricted share unit activity

 

 

 

Shares

 

Weighted
Average
Fair Value

 

 

 

(In thousands)

 

(Per share)

 

 

 

 

 

 

 

Outstanding at December 29, 2015

 

1,891

 

$

41.31

 

Granted

 

399

 

50.05

 

Vested

 

(301

)

33.59

 

Forfeited

 

(82

)

42.81

 

 

 

 

 

 

 

Outstanding at September 27, 2016

 

1,907

 

$

44.25