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Stock-Based Compensation (Tables)

9 Months Ended

Jan. 27, 2019

Summary of Assumptions Used to Determine Fair Value of Performance Based Restricted Stock Units

The following table provides assumptions used to determine the fair market value of the market-based shareholder return component using the Monte Carlo simulation model on the date of grants noted above:

		Fiscal 2019				Fiscal 2018
Closing price of our common stock		$	24.35			$	32.50
Expected volatility of our common stock			33.5%				31.0%
Expected volatility of peer companies			16.0%				16.5%
Risk-free interest rate			2.74%				1.56%
Dividend yield			1.35%				1.66%
Correlation coefficient of peer companies			0.47				0.46

Summary of Vested Performance Based Restricted Stock Units

The following table summarizes information related to our performance based restricted stock units that vested during the nine-month periods ending January 27, 2019 and January 28, 2018:

Fiscal Year		Restricted Stock Units Vested				(3) Fair Value				Weighted Average Price Per Share
Fiscal 2019 (1)			126,232			$	3,707			$	29.37 (4)
Fiscal 2019 (2)			10,364			$	320			$	30.90 (4)
Fiscal 2018 (1)			102,845			$	3,342			$	32.50 (4)
Fiscal 2018 (2)			16,000			$	520			$	32.50 (4)

(1) NEOs and key employees.

(2) Non-employee

(3) Dollar amounts are in thousands.

(4) The weighted average price per share is derived from the closing prices of our common stock on the dates the respective performance based restricted stock units vested.

NEOs and Key Employees [Member]

Summary of Grants of Performance Based Restricted Stock Units

The following table summarizes information related to our grants of performance based restricted stock units associated with NEOs and key employees that are currently unvested:

Date of Grant		(3) Restricted Stock Units Awarded				Price Per Share				Vesting Period
August 2, 2018 (1)			86,599			$	18.51 (4)				3 years
August 2, 2018 (2)			47,800			$	24.35 (6)				3 years
July 13, 2017 (1)			78,195			$	31.85 (5)				3 years
July 13, 2017 (2)			44,000			$	32.50 (6)				3 years
July 14, 2016 (1) (2)			107,880			$	28.00 (6)				3 years

(1) Performance-based restricted stock units awarded to NEOs.

(2) Performance-based restricted stock units awarded to key employees.

(3) Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreements.

(4) Price per share represents the fair market value per share ($0.76 per $1 or a reduction of $5.84 to the closing price of the our common stock) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($24.35) for the performance-based components of the performance-based restricted stock units granted to our NEOs on August 2, 2018.

(5) Price per share represents the fair market value per share ($0.98 per $1 or a reduction of $0.65 to the closing price of the our common stock) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($32.50) for the performance-based components of the performance-based restricted stock units granted to our NEOs on July 13, 2017.

(6) Price per share represents the closing price of our common stock on the date of grant.

Non-employee [Member]

Summary of Grants of Performance Based Restricted Stock Units

The following table summarizes information related to our grants of performance-based restricted stock units associated with a non-employee that are currently unvested:

Date of Grant

(1) Restricted Stock Units Awarded

Price Per Share

Vesting Period

July 14, 2016

11,549

$

18.47 (2)

3 years

(1) Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreements.

(2) The respective grant was unvested at the end of our reporting period. Accordingly, the price per share represents the closing price of our common stock on January 27, 2019, the end of our reporting period.

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- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

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- Definition

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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