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Stock-Based Compensation (Tables) | 9 Months Ended
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Jan. 23, 2021
Share-based Payment Arrangement [Abstract] |
Summary of total stock-based compensation expense | The table below summarizes the total stock-based compensation expense we recognized for all outstanding grants in our consolidated statement of income:
|  | Quarter Ended |  | Nine Months Ended
(Unaudited, amounts in thousands) |  | 1/23/21 |  | 1/25/20 |  | 01/23/21 |  | 01/25/20
Equity-based awards expense |  | $ | 2,948 |  |  | $ | 2,528 |  |  | $ | 9,115 |  |  | $ | 7,235 |
Liability-based awards expense |  | 587 |  |  | (303) |  |  | 1,925 |  |  | 37 |
Total stock-based compensation expense |  | $ | 3,535 |  |  | $ | 2,225 |  |  | $ | 11,040 |  |  | $ | 7,272 |
Fair value assumptions for stock options | The fair value of stock options granted during the first quarter of fiscal 2021 was calculated using the following assumptions:
(Unaudited) |  | Fiscal 2021 grant |  | Assumption
Risk-free interest rate |  | 0.34 | % |  | U.S. Treasury issues with term equal to expected life at grant date
Dividend rate |  | 0 | % |  | Estimated future dividend rate and common share price at grant date
Expected life |  | 5 years |  | Contractual term of stock option and expected employee exercise trends
Stock price volatility |  | 41.79 | % |  | Historical volatility of our common shares
Fair value per share |  | $ | 10.06 |  |  |

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + 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 (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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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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