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Stock-Based Compensation (Tables) | 9 Months Ended
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Oct. 07, 2017
Cash Proceeds Received and Tax Benefit from Share-based Payment Awards | As of October 7, 2017, compensation expense related to the NQSOs was fully amortized. The cash received, the windfall tax benefit, and intrinsic value from stock option exercises for the forty weeks ended October 7, 2017 and October 8, 2016, respectively, were as follows (amounts in thousands):
|  | October 7, 2017 |  |  | October 8, 2016 |
Cash received from option exercises |  | $ | 9,296 |  |  | $ | 18,862 |
Tax benefit at exercise, net |  | $ | 2,004 |  |  | $ | 2,462 |
Intrinsic value of stock options exercised |  | $ | 7,197 |  |  | $ | 10,503 |
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 | %
Performance-Contingent Restricted Stock Awards | The table below presents the TSR modifier share adjustment, ROIC modifier share adjustment, accumulated dividends on vested shares, and the tax benefit/(expense) at vesting of the performance-contingent restricted stock awards (amounts in thousands, except per share data). The shortfall at vesting of 2015 award was recorded as tax expense. The tax impact on the 2014 award at vesting was treated as a shortfall for reporting purposes.
Award granted |  |  | Fiscal year vested |  |  | TSR modifier increase/(decrease) shares |  |  | ROIC modifier increase/(decrease) shares |  |  | Dividends at vesting (thousands) |  |  | Tax benefit/(expense) |  |  | Fair value at vesting |
| 2015 |  |  |  | 2017 |  |  |  | (378,219 | ) |  |  | (49,272 | ) |  | $ | 392 |  |  | $ | (3,099 | ) |  | $ | 6,316 |
| 2014 |  |  |  | 2016 |  |  |  | (248,872 | ) |  |  | (13,637 | ) |  | $ | 441 |  |  | $ | (3,090 | ) |  | $ | 7,173 |
Performance-Contingent Restricted Stock Activity | Performance-Contingent Restricted Stock The company’s performance-contingent restricted stock activity for the forty weeks ended October 7, 2017 is presented below (amounts in thousands, except price data):
|  | Shares |  |  | Weighted Average Grant Date Fair Value |
Nonvested shares at December 31, 2016 |  |  | 1,543 |  |  | $ | 21.53 |
Initial grant at target |  |  | 855 |  |  | $ | 21.64 |
Grant reduction for not achieving the ROIC modifier |  |  | (49 | ) |  | $ | 19.14 |
Grant reduction for not achieving the TSR modifier |  |  | (378 | ) |  | $ | 21.21 |
Vested |  |  | (329 | ) |  | $ | 19.14 |
Forfeited |  |  | (47 | ) |  | $ | 21.09 |
Nonvested shares at October 7, 2017 |  |  | 1,595 |  |  | $ | 22.21 |
Deferred Stock Activity | The deferred stock activity for the forty weeks ended October 7, 2017 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 31, 2016 |  |  | 149 |  |  | $ | 20.39 |  |  |  |  |  |  |  |  |
Vested |  |  | (149 | ) |  | $ | 20.39 |  |  |  |  |  |  |  |  |
Granted |  |  | 87 |  |  | $ | 18.70 |  |  |  |  |  |  |  |  |
Nonvested shares at October 7, 2017 |  |  | 87 |  |  | $ | 18.70 |  |  |  | 0.61 |  |  | $ | 1,531 |
Summary of Company's Stock-Based Compensation Expense | The following table summarizes the company’s stock-based compensation expense for the twelve and forty weeks ended October 7, 2017 and October 8, 2016, respectively (amounts in thousands):
|  | For the Twelve Weeks Ended |  |  | For the Forty Weeks Ended |
|  | October 7, 2017 |  |  | October 8, 2016 |  |  | October 7, 2017 |  |  | October 8, 2016 |
Performance-contingent restricted stock awards |  | $ | 2,638 |  |  | $ | 3,220 |  |  | $ | 10,321 |  |  | $ | 13,335 |
Deferred and restricted stock |  |  | 380 |  |  |  | 479 |  |  |  | 1,387 |  |  |  | 1,682 |
Stock appreciation rights |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (12 | )
Total stock-based compensation |  | $ | 3,018 |  |  | $ | 3,699 |  |  | $ | 11,708 |  |  | $ | 15,005 |
Stock Option |
Stock Option Activity | The stock option activity for the forty weeks ended October 7, 2017 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 31, 2016 |  |  | 1,846 |  |  | $ | 10.89 |  |  |  |  |  |  |  |  |
Exercised |  |  | (852 | ) |  | $ | 10.91 |  |  |  |  |  |  |  |  |
Outstanding at October 7, 2017 |  |  | 994 |  |  | $ | 10.87 |  |  |  | 0.34 |  |  | $ | 7,835 |
Exercisable at October 7, 2017 |  |  | 994 |  |  | $ | 10.87 |  |  |  | 0.34 |  |  | $ | 7,835 |
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 Omnibus Plan and have service period remaining (amounts in thousands, except price data):
Grant date |  | January 1, 2017 |  |  | January 3, 2016 |
Shares granted |  |  | 426 |  |  |  | 401 |
Vesting date |  | 3/1/2019 |  |  | 2/21/2018 |
Fair value per share |  | $ | 23.31 |  |  | $ | 24.17 |
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 Omnibus Plan and have service period remaining (amounts in thousands, except price data):
Grant date |  | January 1, 2017 |  |  | January 3, 2016 |
Shares granted |  |  | 426 |  |  |  | 401 |
Vesting date |  | 3/1/2019 |  |  | 2/21/2018 |
Fair value per share |  | $ | 19.97 |  |  | $ | 21.49 |

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