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Stock-Based Compensation (Tables)

9 Months Ended

Oct. 08, 2022

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 (a 137% final payout), ROIC modifier share adjustment (a 125% final payout), 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):

Award Granted				Fiscal Year Vested				TSR Modifier Increase Shares				ROIC Modifier Increase Shares				Dividends at Vesting				Tax Benefit				Fair Value at Vesting
	2019				2022				109,729				74,154			$	1,843			$	2,196			$	22,143

Performance-Contingent Restricted Stock Activity

The company’s performance-contingent restricted stock activity for the forty weeks ended October 8, 2022 is presented below (amounts in thousands, except price data):

		Shares				Weighted Average Grant Date Fair Value
Nonvested shares at January 1, 2022			1,972			$	22.89
Granted			679			$	29.66
Grant increase for achieving the ROIC modifier			74			$	29.72
Grant increase for achieving the TSR modifier			110			$	29.72
Vested			(778	)		$	20.25
Forfeited			(25	)		$	25.04
Nonvested shares at October 8, 2022			2,032			$	25.91

Time-Based Restricted Stock Units Awards

The following TBRSU Shares have been granted under the Omnibus Plan during the forty weeks ended October 8, 2022 (amounts in thousands, except price data):

Grant Date		Shares Granted				Vesting Date		Fair Value per Share
1/2/2022			206			Equally over 3 years		$	27.47

Time-Based Restricted Stock Units Activity

The TBRSU Shares activity for the forty weeks ended October 8, 2022 is set forth below (amounts in thousands, except price data):

		TBRSU Shares				Weighted Average Fair Value				Weighted Average Remaining Contractual Term (Years)				Unrecognized Compensation Cost
Nonvested shares at January 1, 2022			492			$	21.87
Vested			(213	)		$	20.99
Granted			206			$	27.47
Forfeitures			(14	)		$	24.32
Nonvested shares at October 8, 2022			471			$	24.63				1.79			$	6,883

Vesting of Time-Based Restricted Stock Units

The table below presents the accumulated dividends on vested shares and the tax benefit/(expense) at vesting of the time-based restricted stock units (amounts in thousands).

Award Granted				Fiscal Year Vested				Dividends at Vesting				Tax Benefit				Fair Value at Vesting
	2021				2022			$	159			$	106			$	2,262
	2020				2022			$	106			$	100			$	1,818
	2019				2022			$	67			$	161			$	1,870

Deferred Stock Activity

The deferred stock activity for the forty weeks ended October 8, 2022 is set forth below (amounts in thousands, except price data):

		Shares				Weighted Average Fair Value				Weighted Average Remaining Contractual Term (Years)				Unrecognized compensation cost
Nonvested shares at January 1, 2022			67			$	24.00
Vested			(67	)		$	24.00
Granted			62			$	27.37
Nonvested shares at October 8, 2022			62			$	27.37				0.62			$	1,026

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 8, 2022 and October 9, 2021, respectively (amounts in thousands):

		For the Twelve Weeks Ended
		October 8, 2022				October 9, 2021
Performance-contingent restricted stock awards		$	3,917			$	3,287
TBRSU Shares			1,179				1,146
Deferred and restricted stock			389				378
Total stock-based compensation		$	5,485			$	4,811
		For the Forty Weeks Ended
		October 8, 2022				October 9, 2021
Performance-contingent restricted stock awards		$	14,778			$	11,910
TBRSU Shares			4,040				3,701
Deferred and restricted stock			1,306				1,157
Total stock-based compensation		$	20,124			$	16,768

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 during the forty weeks ended October 8, 2022 under the Omnibus Plan (amounts in thousands, except price data):

Grant Date		Shares Granted				Vesting Date		Fair Value per Share
1/2/2022			331			3/1/2025		$	31.97
4/24/2022			8			3/1/2025		$	27.38

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 during the forty weeks ended October 8, 2022 (amounts in thousands, except price data):

Grant Date		Shares Granted				Vesting Date		Fair Value per Share
1/2/2022			331			3/1/2025		$	27.47
4/24/2022			8			3/1/2025		$	27.38

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