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Stock-based Compensation Plans (Tables)

9 Months Ended

Sep. 29, 2019

Share-based Payment Arrangement [Abstract]

Schedule of compensation cost for stock-based payment arrangements, allocation of share-based compensation costs by plan

The Company recognized stock-based compensation expense as follows for the periods indicated:

	THIRTEEN WEEKS ENDED								THIRTY-NINE WEEKS ENDED
(dollars in thousands)	SEPTEMBER 29, 2019				SEPTEMBER 30, 2018				SEPTEMBER 29, 2019				SEPTEMBER 30, 2018
Stock options	$	1,316			$	1,533			$	3,888			$	5,059
Restricted stock units	2,389				2,323				6,548				7,110
Performance-based share units	848				1,309				3,105				3,779
	$	4,553			$	5,165			$	13,541			$	15,948

Schedule of stock-based payment award, stock options, valuation assumptions

Assumptions used in the Black-Scholes option pricing model and the weighted-average fair value of option awards granted were as follows for the periods indicated:

	THIRTY-NINE WEEKS ENDED
	SEPTEMBER 29, 2019				SEPTEMBER 30, 2018
Assumptions:
Weighted-average risk-free interest rate (1)	2.34		%		2.66		%
Dividend yield (2)	1.94		%		1.50		%
Expected term (3)	4.8 years				5.8 years
Weighted-average volatility (4)	31.05		%		32.76		%
Weighted-average grant date fair value per option	$	5.07			$	7.23

________________

(1) Risk-free interest rate is the U.S. Treasury yield curve in effect as of the grant date for periods within the expected term of the option.

(2) Dividend yield is the level of dividends expected to be paid on the Company’s common stock over the expected term of the option.

(3) Expected term represents the period of time that the options are expected to be outstanding. The Company estimates the expected term based on historical exercise experience for its stock options.

(4)

Based on the historical volatility of the Company’s stock.

Schedule of unrecognized compensation cost, nonvested awards

The following represents unrecognized stock compensation expense and the remaining weighted-average vesting period as of September 29, 2019:

	UNRECOGNIZED COMPENSATION EXPENSE (dollars in thousands)				REMAINING WEIGHTED-AVERAGE VESTING PERIOD (in years)
Stock options	$	9,115			2.1
Restricted stock units	$	16,848			2.2
Performance-based share units	$	7,003			1.4

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- References

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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=116856206&loc=d3e5070-113901

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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=116856206&loc=d3e5070-113901

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- Definition

Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement.

+ 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 (i)
-URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901

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