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STOCK BASED COMPENSATION (Tables)

6 Months Ended

Jul. 12, 2014

Cash Received, Windfall Tax Benefits, and Intrinsic Value from Stock Option Exercises

The cash received, the windfall tax benefit, and intrinsic value from stock option exercises for the twenty-eight weeks ended July 12, 2014 and July 13, 2013 were as follows (amounts in thousands):

		July 12, 2014				July 13, 2013
Cash received from option exercises		$	6,888			$	9,289
Cash tax windfall, net		$	1,799			$	3,740
Intrinsic value of stock options exercised		$	6,234			$	12,067

Payout Determined from Total Shareholder Return Shares

The Company TSR compared to the Peer Group TSR will determine the payout as set forth below:

Percentile		Payout as % of Target
90th			200	%
70th			150	%
50th			100	%
30th			50	%
Below 30th			0	%

Deferred and Restricted Stock Activity

The deferred and restricted stock activity for the twenty-eight weeks ended July 12, 2014 is set forth below (amounts in thousands, except price data):

		Shares				Weighted Average Fair Value				Weighted Average Remaining Contractual Term (Years)				Aggregate Intrinsic Value
Nonvested shares at December 28, 2013			177			$	18.92
Deferred stock granted			97			$	20.47
Deferred stock vested			(78	)		$	19.06
Nonvested at July 12, 2014			196			$	19.87				1.66			$	4,074

Stock Appreciation Rights Activity

The rights activity for the twenty-eight weeks ended July 12, 2014 is set forth below (amounts in thousands except price data):

		Rights				Weighted Average Fair Value				Aggregate Liability
Outstanding at December 28, 2013			141			$	7.26			$	1,982
Rights exercised			(22	)		$	6.25
Outstanding at July 12, 2014			119			$	7.44			$	1,591

Summary of Company's Stock Based Compensation Expense

The following table summarizes the company’s stock based compensation expense for the twelve and twenty-eight week periods ended July 12, 2014 and July 13, 2013, respectively (amounts in thousands):

		For the Twelve Weeks Ended								For the Twenty-Eight Weeks Ended
		July 12, 2014				July 13, 2013				July 12, 2014				July 13, 2013
Stock options		$	—			$	380			$	197			$	1,017
Performance-contingent restricted stock awards			4,430				2,453				9,187				6,247
Deferred and restricted stock			519				422				1,181				876
Stock appreciation rights			42				359				(91	)			1,550
Total stock based compensation		$	4,991			$	3,614			$	10,474			$	9,690

Stock Option

Stock Option Activity

The stock option activity for the twenty-eight weeks ended July 12, 2014 pursuant to the EPIP is set forth below (amounts in thousands, except price data):

		Options				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (Years)				Aggregate Intrinsic Value
Outstanding at December 28, 2013			8,112			$	10.89
Exercised			(635	)		$	10.85
Outstanding at July 12, 2014			7,477			$	10.90				2.44			$	74,714
Exercisable at July12, 2014			7,477			$	10.90				2.44			$	74,714

Performance-Contingent Total Shareholder Return Shares

Performance Contingent TSR Shares, ROIC Shares and Restricted Stock Awards

The following performance-contingent TSR Shares have been granted under the EPIP and have service period remaining (amounts in thousands, except price data):

Grant date		January 1, 2014				January 1, 2013
Shares granted			366				414
Assumed vesting date			3/1/2016				3/1/2015
Fair value per share		$	23.97			$	17.22

Performance-Contingent Restricted Stock Activity

The company’s performance-contingent restricted stock activity during the quarter ended July 12, 2014, is presented below (amounts in thousands, except price data):

		Shares				Weighted Average Grant Date Fair Value
Nonvested at December 28, 2013			1,229			$	15.88
Initial 2014 grant at target			732			$	22.72
Incremental shares issued for the 2012 ROIC modifier			51			$	14.37
Incremental shares issued for the 2012 TSR modifier			194			$	15.45
2012 Vested			(653	)		$	15.03
Forfeited			(32	)		$	19.42
Nonvested at July 12, 2014			1,521			$	19.35

Return On Invested Capital

Performance Contingent TSR Shares, ROIC Shares and Restricted Stock Awards

The following performance-contingent ROIC Shares have been granted under the EPIP and have service period remaining (amounts in thousands, except price data):

Grant date		January 1, 2014				January 1, 2013
Shares granted			366				414
Vesting date			3/1/2016				3/1/2015
Fair value per share		$	21.47			$	15.51

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