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Stock-Based Compensation (Tables)

12 Months Ended

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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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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