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Stock-Based Compensation (Tables)

12 Months Ended

Apr. 30, 2016

Stock-Based Compensation

Summary of total stock-based compensation expense

The table below summarizes the total stock-based compensation expense recognized for all outstanding grants in our consolidated statement of income (for the fiscal years ended):

(Amounts in thousands)		4/30/2016			4/25/2015			4/26/2014
Equity-based awards expense		$	8,292		$	6,780		$	8,739
Liability-based awards expense			1,355			4,597			5,736
​	​	​	​	​	​	​	​	​	​	​
Total stock-based compensation expense		$	9,647		$	11,377		$	14,475
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Schedule of plan activity for stock options

Number of Shares (In Thousands)

Weighted Average Exercise Price

Weighted Average Remaining Contractual Term (Years)

Aggregate Intrinsic Value (In Thousands)

Outstanding at April 25, 2015

1,039

$

16.15

7.6

$

11,773

Granted

427

26.69

Canceled

(16

)

25.71

Exercised

(39

)

10.75

622

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Outstanding at April 30, 2016

1,411

$

19.39

7.4

$

9,489

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Exercisable at April 30, 2016

597

$

13.26

6.0

$

7,529

Fair value assumptions for stock options

		Fiscal 2016 Grant			Fiscal 2015 Grant			Fiscal 2014 Grant
Risk-free interest rate			1.54	%		1.59	%		0.84	%
Dividend rate			1.20	%		1.00	%		0.84	%
Expected life in years			5.0			5.0			5.0
Stock price volatility			44.37	%		54.40	%		81.27	%
Fair value per share		$	9.69		$	10.45		$	11.63

Fair value assumptions for SARs

		Fiscal 2014 Grant			Fiscal 2013 Grant
Risk-free interest rate			0.88	%		0.66	%
Dividend rate			1.55	%		1.55	%
Expected life in years			2.1			1.2
Stock price volatility			30.77	%		30.56	%
Fair value per share		$	7.82		$	13.54

Summary of information about non-vested share awards

		Shares (In Thousands)			Weighted Average Grant Date Fair Value
Non-vested shares at April 25, 2015			142		$	20.50
Granted			102			26.46
Vested			(57	)		16.07
Canceled			(18	)		24.07
​	​	​	​	​	​	​	​
Non-vested shares at April 30, 2016			169		$	25.22
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​

Summary of information about non-vested stock units

		Units (In Thousands)			Weighted Average Grant Date Fair Value
Non-vested units at April 25, 2015			146		$	16.12
Vested			(58	)		15.40
Canceled			(11	)		16.55
​	​	​	​	​	​	​	​
Non-vested units at April 30, 2016			77		$	16.61
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​

Schedule of performance-based shares and units granted

Performance-based awards granted (Shares/units in thousands)		Units			Shares
Fiscal 2014 grant			35			191
Fiscal 2015 grant			—			192
Fiscal 2016 grant			—			182

Schedule of awards earned based on performance conditions

Performance-based awards earned (Shares/units in thousands)		Shares/Units
Fiscal 2014 performance-based shares			159
Fiscal 2014 performance-based units			24
Fiscal 2015 performance-based shares			64
Fiscal 2016 performance-based shares			80

Schedule of equity-based compensation expenses related to performance-based shares

(Amounts in thousands)		4/30/2016			4/25/2015			4/26/2014
Fiscal 2012 grant		$	—		$	—		$	3,603
Fiscal 2013 grant			—			568			849
Fiscal 2014 grant			926			769			1,006
Fiscal 2015 grant			840			908			—
Fiscal 2016 grant			1,610			—			—
​	​	​	​	​	​	​	​	​	​	​
Total expense		$	3,376		$	2,245		$	5,458
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

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Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits.

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

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