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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 29, 2018

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

The cash received, the windfall tax benefits, and intrinsic value from stock option exercises for fiscal years 2018, 2017, and 2016 are set forth below (amounts in thousands):

		Fiscal 2018				Fiscal 2017				Fiscal 2016
Cash received from option exercises		$	791			$	19,313			$	27,631
Cash tax windfall benefit, net		$	111			$	4,186			$	3,746
Intrinsic value of stock options exercised		$	609			$	14,994			$	15,778

Payout Determined from Total Shareholder Return Shares

The Company TSR compared to the Peer Group TSR will determine the payout as set forth below (the “TSR Modifier”):

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 windfall/shortfall at vesting of the performance-contingent restricted stock awards (amounts in thousands except for share data):

Award granted		Fiscal year vested		TSR Modifier increase/(decrease) shares				ROIC Modifier increase/(decrease) shares				Dividends at vesting (thousands)				Tax windfall/(shortfall)				Fair value at vesting
2016		2018			(333,112	)			(114,190	)		$	405			$	(2,130	)		$	6,504
2015		2017			(378,219	)			(49,272	)		$	392			$	(3,103	)		$	6,316
2014		2015			(248,872	)			(13,637	)		$	441			$	(3,090	)		$	7,173

Performance-Contingent Restricted Stock Activity

A summary of the status of all of the company’s nonvested shares for performance-contingent restricted stock (including the TSR Shares and the ROIC Shares) for fiscal 2018, 2017 and 2016 is set forth below (amounts in thousands, except price data):

		Fiscal 2018								Fiscal 2017								Fiscal 2016
		Number of Shares				Weighted Average Fair Value				Number of Shares				Weighted Average Fair Value				Number of Shares				Weighted Average Fair Value
Balance at beginning of year			1,575			$	22.20				1,543			$	21.53				1,349			$	21.26
Initial grant			—			$	—				855			$	21.61				801			$	22.83
Vested			(314	)		$	21.89				(329	)		$	19.14				(312	)		$	22.02
Grant reduction for not achieving the ROIC modifier			(114	)		$	21.49				(49	)		$	19.14				(249	)		$	23.97
Grant reduction for not achieving the TSR modifier			(333	)		$	24.17				(378	)		$	21.21				(14	)		$	21.47
Forfeitures			(35	)		$	22.83				(67	)		$	21.08				(32	)		$	23.60
Balance at end of year			779			$	21.64				1,575			$	22.20				1,543			$	21.53

Deferred and Restricted Stock Activity

The deferred and restricted stock activity for fiscal years 2018, 2017, and 2016 is set forth below (amounts in thousands, except price data):

		Fiscal 2018								Fiscal 2017								Fiscal 2016
		Number of Shares				Weighted Average Fair Value				Number of Shares				Weighted Average Fair Value				Number of Shares				Weighted Average Fair Value
Nonvested shares at beginning of year			87			$	18.70				149			$	20.39				126			$	21.89
Granted			78			$	19.90				87			$	18.70				95			$	19.30
Vested			(99	)		$	18.70				(149	)		$	20.39				(72	)		$	21.59
Nonvested shares at end of year			66			$	19.93				87			$	18.70				149			$	20.39
Vested and deferred shares at end of year			198								192								331

Summary of Company's Stock Based Compensation Expense

The following table summarizes the company’s stock-based compensation expense, all of which was recognized in selling, distribution, and administration expense, for fiscal years 2018, 2017 and 2016 (amounts in thousands):

		Fiscal 2018				Fiscal 2017				Fiscal 2016
Performance-contingent restricted stock awards		$	6,504			$	14,326			$	16,611
Deferred stock awards			1,644				1,767				2,161
Stock appreciation rights income			—				—				(11	)
Total stock-based compensation expense		$	8,148			$	16,093			$	18,761

Total Shareholders Return

Payout Percentage of Total Shareholder Return Shares

The table below presents the payout percentage for each of the TSR awards:

Award		Fiscal year vested		Payout (%)
2014 award		Fiscal 2016			27
2015 award		Fiscal 2017		0
2016 award		Fiscal 2018			12.5

Performance Contingent Return On Invested Capital Shares

Payout Percentage of Total Shareholder Return Shares

The table below presents the payout percentage for each of the ROIC awards:

Award		Fiscal year vested		Payout (%)
2014 award		Fiscal 2016			96
2015 award		Fiscal 2017			87
2016 award		Fiscal 2018			70

Stock Option

Stock Option Activity

The stock option activity for fiscal years 2018, 2017, and 2016 pursuant to the EPIP is set forth below (amounts in thousands, except price data):

		Fiscal 2018								Fiscal 2017								Fiscal 2016
		Options				Weighted Average Exercise Price				Options				Weighted Average Exercise Price				Options				Weighted Average Exercise Price
Outstanding at beginning of year			73			$	10.87				1,846			$	10.89				4,353			$	10.97
Exercised			(73	)		$	10.87				(1,773	)		$	10.89				(2,507	)		$	11.02
Outstanding at end of year			—			$	—				73			$	10.87				1,846			$	10.89
Exercisable at end of year			—								73								1,846

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
Shares granted			426
Assumed vesting date		3/1/2019
Fair value per share		$	23.31

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
Shares granted			426
Assumed vesting date		3/1/2019
Fair value per share		$	19.97

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