Share-based Compensation (Tables)

6 Months Ended

Jun. 28, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Weighted-Average Assumptions Used to Estimate the Fair Value of Each Share Option Award

The fair value of each share option award on the date of grant is estimated using the Black-Scholes method based on the following weighted-average assumptions:


	13 Weeks Ended						26 Weeks Ended
	June 28, 2015			June 29, 2014			June 28, 2015			June 29, 2014
Risk-free interest rate		1.9	%		1.8	%		1.9	%		1.8	%
Expected term		5.8 years			5.8 years			5.8 years			5.8 years
Expected volatility		57.0	%		57.0	%		57.0	%		57.0	%
Expected dividend yield		2.7	%		3.3	%		2.7	%		3.3	%

Summary of Share Option Awards

A summary of the status of the Company’s share option awards is presented below:


	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (In Years)		Aggregate Intrinsic Value
Outstanding at December 28, 2014		729,905	$	15.73

Granted		10,000		14.66
Exercised		(7,925)		6.12
Forfeited or Expired		(2,800)		19.12

Outstanding at June 28, 2015		729,180	$	15.80		2.60	$	1,907,777

Exercisable at June 28, 2015		678,055	$	16.00		2.10	$	1,785,624

Vested and Expected to Vest at June 28, 2015		728,669	$	15.80		2.60	$	1,907,219

Summary of Nonvested Share Awards Activity

The following table details the Company’s nonvested share awards activity for the 26 weeks ended June 28, 2015:


	Shares		Weighted- Average Grant-Date Fair Value
Balance as of December 28, 2014		336,765	$	13.47

Granted		152,140		12.65
Vested		(132,475)		12.57
Forfeited		(3,965)		14.10

Balance as of June 28, 2015		352,465	$	13.45