Stock-Based Compensation

9 Months Ended

Oct. 05, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Note 12 – 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:

	12 Weeks Ended						40 Weeks Ended
(In thousands)	October 5, 2019			October 6, 2018			October 5, 2019			October 6, 2018
Restricted stock	$	637		$	773		$	6,735		$	7,040
Tax benefits		(163	)		(166	)		(1,148	)		(1,095	)
Stock-based compensation expense, net of tax	$	474		$	607		$	5,587		$	5,945

The following table summarizes activity in the stock-based compensation plans for the 40 weeks ended October 5, 2019:

									Weighted
	Shares			Weighted		Restricted			Average
	Under			Average		Stock			Grant-Date
	Options			Exercise Price		Awards			Fair Value
Outstanding at December 29, 2018		13,052		$	13.87		822,819		$	23.07
Granted		—			—		482,059			17.91
Exercised/Vested		(13,052	)		13.87		(346,721	)		23.47
Cancelled/Forfeited		—			—		(30,105	)		20.19
Outstanding at October 5, 2019		—		$	—		928,052		$	20.33

As of October 5, 2019, total unrecognized compensation cost related to non-vested restricted stock awards granted under the Company’s stock incentive plans is $5.5 million and is expected to be recognized over a weighted average period of 2.6 years.