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Common Stock and Share-Based Compensation (Tables)

9 Months Ended

Sep. 26, 2020

Summary of Stock Options under Equity Plan and Non-Employee Director Plan

Information related to stock options under the Restated Employee Equity Incentive Plan and the Stock Option Plan for Non-Employee Directors is summarized as follows:

		Shares				Weighted - Average Exercise Price				Weighted - Average Remaining Contractual Term in Years				Aggregate  Intrinsic Value (in thousands)
Outstanding at December 28, 2019			315,678			$	186.53
Granted			25,870				383.22
Forfeited			(2,595	)			241.84
Expired			—				—
Exercised			(91,606	)			137.55
Outstanding at September 26, 2020			247,347			$	224.66				6.08			$	161,050
Exercisable at September 26, 2020			59,138			$	196.52				5.05			$	40,170
Vested and expected to vest at September 26, 2020			223,104			$	223.63				6.04			$	145,495

Weighted Average Assumptions used to Estimate Fair Value of Stock Options

Weighted average assumptions used to estimate fair values of stock options on the date of grants are as follows:

		2020
Expected Volatility		32.6%
Risk-free interest rate		1.1%
Expected Dividends		0.0%
Exercise factor		2.1 times
Discount for post-vesting restrictions		0.0%

Summary of Vesting Activities of Shares Issued Under Investment Share Program and Restricted Stock Awards

The following table summarizes vesting activities of shares issued under the investment share program and restricted stock awards:

		Number of Shares				Weighted Average Fair Value
Non-vested at December 28, 2019			122,142			$	213.52
Granted			42,455				349.95
Vested			(45,860	)			214.23
Forfeited			(4,488	)			236.78
Non-vested at September 26, 2020			114,249			$	263.02

Stock-Based Compensation Expense Included in Operating Expenses

The following table provides information regarding stock-based compensation expense included in operating expenses in the accompanying consolidated statements of comprehensive income:

		Thirteen weeks ended								Thirty-nine weeks ended
		September 26, 2020				September 28, 2019				September 26, 2020				September 28, 2019
		(in thousands)								(in thousands)
Amounts included in advertising, promotional and selling expenses		$	1,203			$	1,180			$	3,054			$	2,778
Amounts included in general and administrative expenses			2,429				2,053				7,681				6,265
Total stock-based compensation expense		$	3,632			$	3,233			$	10,735			$	9,043

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- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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