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Equity Compensation (Tables)

12 Months Ended

Dec. 27, 2020

Equity Compensation

Schedule of Information Pertaining to Option Activity

​

Information pertaining to option activity during 2020 is as follows (number of options and aggregate intrinsic value in thousands):

​

​	​	​	​	​	​	​	​	​	​	​	​
​					​		Weighted			​
​	​	​	​	​	​	​	Average	​	​	​
​	​	​	​	Weighted		​	Remaining	​	​	​
​	​	Number	​	Average		​	Contractual	​	Aggregate
​	​	of	​	Exercise		​	Term	​	Intrinsic
​	​	Options	​	Price		​	(In Years)	​	Value
Outstanding at December 29, 2019		1,205	​	$	55.67	​	​	​	​	​	​
Exercised		(541)	​		56.73	​	​	​	​	​	​
Cancelled		(100)	​		54.70	​	​	​	​	​	​
Outstanding at December 27, 2020		564	​	$	54.82		6.58	​	$	18,453	​
Exercisable at December 27, 2020		337	​	$	59.31		5.68	​	$	9,512	​

​

Summary of the Significant Assumptions Used in Estimating the Fair Value of Options Granted

The following is a summary of the significant assumptions used in estimating the fair value of options granted in 2019 and 2018 (none in 2020):

​

​	​	​	​	​	​
​		2019		2018
​	​	​	​	​	​
Assumptions (weighted average):	​	​	​	​	​
Risk-free interest rate		2.5	%	2.7	%
Expected dividend yield		2.1	%	1.5	%
Expected volatility		31.2	%	27.6	%
Expected term (in years)		5.7	​	5.6	​

​

Summary of the Significant Assumptions Used in Estimating the Fair Value of Performance based Restricted Stock Units Granted

​

​	​	​	​	​	​
​		2020	​	2019	​
​	​	​	​	​	​
Assumptions:	​	​	​	​	​
Risk-free interest rate		0.9	%	2.5	%
Expected volatility		36.3	%	33.9	%

Schedule of Information Pertaining to Restricted Stock Activity

The fair value of time-based restricted stock and performance-based restricted stock units is based on the market price of the Company’s shares on the grant date. Information pertaining to these awards during 2020 is as follows (shares in thousands):

​

​	​	​	​	​	​	​
​				Weighted
​	​	​	​	Average
​	​	​	​	Grant-Date
​	​	Shares	​	Fair Value
Total as of December 29, 2019		616	​	$	50.90	​
Granted		314	​	​	61.31	​
Forfeited		(64)	​	​	52.44	​
Vested		(199)	​	​	54.63	​
Total as of December 27, 2020		667	​	$	54.33	​

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of performance based restricted stock units, 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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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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