Stock-Based Compensation

4 Months Ended

Apr. 21, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Note 10 – Stock-Based Compensation

The Company has a shareholder-approved stock incentive plan that provides for the granting of stock options, stock appreciation rights, restricted stock, restricted stock units, stock awards, and other stock-based and stock-related awards to directors, officers and other key associates.

Stock-based compensation expense recognized and included in “Selling, general and administrative expenses” in the condensed consolidated statements of operations, and related tax benefits were as follows:

	16 Weeks Ended
(In thousands)	April 21, 2018			April 22, 2017
Restricted stock	$	5,290		$	6,352
Tax benefits		(698	)		(3,434	)
Stock-based compensation expense, net of tax	$	4,592		$	2,918

The following table summarizes activity in the stock-based compensation plans for the 16 weeks ended April 21, 2018:

								Weighted
	Shares		Weighted		Restricted			Average
	Under		Average		Stock			Grant-Date
	Options		Exercise Price		Awards			Fair Value
Outstanding at December 30, 2017		47,928	$	16.52		613,744		$	30.32
Granted		—		—		472,456			16.96
Exercised/Vested		—		—		(251,595	)		28.80
Cancelled/Forfeited		—		—		(4,691	)		25.99
Outstanding at April 21, 2018		47,928	$	16.52		829,914		$	23.20

The Company has not issued any stock options since 2009 and all outstanding options are vested and exercisable at April 21, 2018.

As of April 21, 2018, total unrecognized compensation costs related to non-vested stock-based awards granted under the Company’s stock incentive plans were $6.6 million for restricted stock, and are expected to be recognized over a weighted average period of 2.6 years. All compensation costs related to stock options have been recognized.