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Stock-Based Compensation (Tables)
 12 Months Ended
Apr. 25, 2020
Share-based Payment Arrangement [Abstract]  
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:
 
 
Fiscal Year Ended
 
 
(52 weeks)
 
(52 weeks)
 
(52 weeks)
(Amounts in thousands)
 
4/25/2020
 
4/27/2019
 
4/28/2018
Equity-based awards expense
 
 
 
 
 
 
Stock options
 
$
2,000

 
$
3,507

 
$
4,180

Restricted stock awards
 
2,913

 
2,548

 
2,196

Restricted stock units
 
900

 
704

 
704

Performance based units
 
2,558

 
4,222

 
2,394

Total equity-based awards expense
 
8,371

 
10,981

 
9,474

Liability-based awards expense
 
 
 
 
 
 
Stock appreciation rights
 
(240
)
 
98

 
252

Restricted stock units
 
20

 
22

 
87

Performance based units
 
6

 
7

 
(28
)
Deferred stock units
 
(768
)
 
212

 
94

Total liability-based awards expense
 
(982
)
 
339

 
405

Total stock-based compensation expense (1)
 
$
7,389

 
$
11,320

 
$
9,879

(1)
Stock-based compensation expense is recorded in SG&A expense in the consolidated statement of income.
Schedule of Plan Activity for Stock Options
Plan activity for stock options under the above plans was as follows:
 
Number of Shares
(In Thousands)
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Term
 (Years)
 
Aggregate Intrinsic Value
(In Thousands)
Outstanding at April 27, 2019
1,442

 
$
28.09

 
7.7
 
$
6,557

Granted
249

 
30.24

 
N/A
 
N/A

Canceled
(61
)
 
30.31

 
N/A
 
N/A

Exercised
(192
)
 
25.14

 
N/A
 
1,668

Outstanding at April 25, 2020
1,438

 
28.76

 
7.2
 
103

 


 


 

 


Exercisable at April 25, 2020
671

 
$
27.32

 
6.3
 
$
103
Fair Value Assumptions for Stock Options The fair value of stock options granted during fiscal 2020, fiscal 2019, and fiscal 2018 were calculated using the following assumptions:
 
Fiscal 2020 grant
 
Fiscal 2019 grant
 
Fiscal 2018 grant
Risk-free interest rate
2.19
%
 
2.82
%
 
1.84
%
Dividend rate
1.72
%
 
1.45
%
 
1.61
%
Expected life in years
5.0

 
5.0

 
5.0

Stock price volatility
34.27
%
 
33.07
%
 
32.12
%
Fair value per share
$
7.94

 
$
9.65

 
$
7.16
Summary of Information about Non-Vested Share Awards
The following table summarizes information about non-vested share awards as of and for the year ended April 25, 2020:
 
 
Shares
(In Thousands)
 
Weighted Average Grant Date Fair Value
Non-vested shares at April 27, 2019
 
247

 
$
29.55

Granted
 
168

 
30.43

Vested
 
(90
)
 
28.50

Canceled
 
(32
)
 
29.83

Non-vested shares at April 25, 2020
 
293

 
$
30.34
Summary of Information about Performance-Based Shares Outstanding The following table summarizes the performance-based shares outstanding at the maximum award amounts based upon the respective performance share agreements:
 
 
Shares
(In Thousands)
 
Weighted Average Grant Date Fair Value
Outstanding shares at April 27, 2019
 
523

 
$
28.43

Granted
 
311

 
28.68

Vested
 
(87
)
 
24.79

Unearned or canceled
 
(213
)
 
28.45

Outstanding shares at April 25, 2020
 
534

 
$
29.21
Schedule of Equity-Based Compensation Expenses Related to Performance-Based Shares
Equity-based compensation expenses related to performance-based shares recognized in our consolidated statement of income were as follows (for the fiscal years ended):
 
 
Fiscal Year Ended
 
 
(52 weeks)
 
(52 weeks)
 
(52 weeks)
(Amounts in thousands)
 
4/25/2020
 
4/27/2019
 
4/28/2018
Fiscal 2016 grant
 
$
—

 
$
—

 
$
1,052

Fiscal 2017 grant
 
—

 
1,044

 
455

Fiscal 2018 grant
 
611

 
1,402

 
887

Fiscal 2019 grant
 
996

 
1,776

 
—

Fiscal 2020 grant
 
951

 
—

 
—

Total expense
 
$
2,558

 
$
4,222

 
$
2,394