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Stock-Based Compensation (Tables) | 12 Months Ended
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Apr. 24, 2021
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) |  | 4/24/2021 |  | 4/25/2020 |  | 4/27/2019
Equity-based awards expense |  |  |  |  |  |
Stock options |  | $ | 2,959 |  |  | $ | 2,000 |  |  | $ | 3,507 |
Restricted stock awards |  | 3,367 |  |  | 2,913 |  |  | 2,548 |
Restricted stock units issued to Directors |  | 840 |  |  | 900 |  |  | 704 |
Performance-based shares |  | 5,505 |  |  | 2,558 |  |  | 4,222 |
Total equity-based awards expense |  | 12,671 |  |  | 8,371 |  |  | 10,981 |
Liability-based awards expense |  |  |  |  |  |
Stock appreciation rights |  | 375 |  |  | (240) |  |  | 98 |
Restricted stock units |  | 43 |  |  | 20 |  |  | 22 |
Performance-based units |  | 23 |  |  | 6 |  |  | 7 |
Deferred stock units |  | 1,437 |  |  | (768) |  |  | 212 |
Total liability-based awards expense |  | 1,878 |  |  | (982) |  |  | 339 |
Total stock-based compensation expense (1) |  | $ | 14,549 |  |  | $ | 7,389 |  |  | $ | 11,320 |
(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 25, 2020 | 1,438 |  |  | $ | 28.76 |  |  | 7.2 |  | $ | 103 |
Granted | 316 |  |  | 27.54 |  |  | N/A |  | N/A
Canceled | (7) |  |  | 31.34 |  |  | N/A |  | N/A
Exercised | (405) |  |  | 26.79 |  |  | N/A |  | 5,102 |
Outstanding at April 24, 2021 | 1,342 |  |  | 29.05 |  |  | 7.2 |  | 19,008 |
Exercisable at April 24, 2021 | 592 |  |  | $ | 28.67 |  |  | 6.0 |  | $ | 8,609 |
Fair Value Assumptions for Stock Options | The fair value of stock options granted during fiscal 2021, fiscal 2020, and fiscal 2019 were calculated using the following assumptions:
| Fiscal 2021 grant |  | Fiscal 2020 grant |  | Fiscal 2019 grant
Risk-free interest rate | 0.34 | % |  | 2.19 | % |  | 2.82 | %
Dividend rate | — | % |  | 1.72 | % |  | 1.45 | %
Expected life in years | 5.0 |  | 5.0 |  | 5.0
Stock price volatility | 41.79 | % |  | 34.27 | % |  | 33.07 | %
Fair value per share | $ | 10.06 |  |  | $ | 7.94 |  |  | $ | 9.65 |
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 24, 2021:
|  | Shares (In Thousands) |  | Weighted Average Grant Date Fair Value
Non-vested shares at April 25, 2020 |  | 293 |  |  | $ | 30.34 |
Granted |  | 138 |  |  | 29.35 |
Vested |  | (102) |  |  | 29.66 |
Canceled |  | (9) |  |  | 30.20 |
Non-vested shares at April 24, 2021 |  | 320 |  |  | 30.14 |
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 25, 2020 |  | 534 |  |  | $ | 29.21 |
Granted |  | 337 |  |  | 30.75 |
Vested |  | (98) |  |  | 25.93 |
Unearned or canceled |  | (104) |  |  | 30.30 |
Outstanding shares at April 24, 2021 |  | 669 |  |  | 30.32 |
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) |  | 4/24/2021 |  | 4/25/2020 |  | 4/27/2019
Fiscal 2017 grant |  | $ | — |  |  | $ | — |  |  | $ | 1,044 |
Fiscal 2018 grant |  | — |  |  | 611 |  |  | 1,402 |
Fiscal 2019 grant |  | 1,545 |  |  | 996 |  |  | 1,776 |
Fiscal 2020 grant |  | 2,051 |  |  | 951 |  |  | — |
Fiscal 2021 grant |  | 1,909 |  |  | — |  |  | — |
Total expense |  | $ | 5,505 |  |  | $ | 2,558 |  |  | $ | 4,222 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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