The Company sponsors a shareholder-approved 10-year stock incentive plan covering 2,500,000 shares of SpartanNash’s common stock. The SpartanNash Company Stock Incentive Plan of 2015 (the “2015 Plan”) 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. Shares issued as a result of stock option exercises were funded with the issuance of new shares. Holders of restricted stock and stock awards are entitled to participate in cash dividends and dividend equivalents. As of December 28, 2019, a total of 1,019,555 shares remained unissued under the 2015 Plan.

All outstanding unvested shares of restricted stock vest immediately upon a “Change in Control,” as defined by the Plan.

						Weighted
				Weighted		Average
				Average		Remaining			Aggregate
	Shares			Exercise		Contractual			Intrinsic Value
	Under Options			Price		Life Years			(in thousands)
Options outstanding and exercisable at December 31, 2016		200,517		$	19.94		1.65	$		3,929
Exercised		(152,589	)		21.02					1,543
Cancelled/Expired		—			—
Options outstanding and exercisable at December 30, 2017		47,928			16.52		1.07			487
Exercised		(20,476	)		13.87					1,043
Cancelled/Expired		(14,400	)		22.69
Options outstanding and exercisable at December 29, 2018		13,052			13.87		0.37			39
Exercised		(13,052	)		13.87					51
Cancelled/Expired		—			—
Options outstanding and exercisable at December 28, 2019		—		$	—		—	$		—

Cash received from option exercises was $0.2 million, $0.3 million and $3.2 million in 2019, 2018 and 2017, respectively.

Restricted shares awarded to associates vest ratably over a four-year service period and over one year for grants to the Board of Directors. Awards are subject to forfeiture and certain transfer restrictions prior to vesting. Compensation expense, representing the fair value of the stock at the measurement date of the award, is recognized over the required service period.

The following table summarizes restricted stock activity for 2019, 2018 and 2017:

				Weighted Average
				Grant-Date
	Shares			Fair Value
Outstanding and nonvested at December 31, 2016		660,143		$	26.48
Granted		296,297			34.68
Vested		(258,183	)		25.90
Forfeited		(84,513	)		29.11
Outstanding and nonvested at December 30, 2017		613,744			30.32
Granted		482,572			17.00
Vested		(260,644	)		28.89
Forfeited		(12,853	)		23.52
Outstanding and nonvested at December 29, 2018		822,819			23.07
Granted		488,063			17.84
Vested		(346,721	)		23.47
Forfeited		(35,428	)		20.11
Outstanding and nonvested at December 28, 2019		928,733		$	20.28

The total fair value of shares vested was $6.2 million, $4.8 million and $9.3 million in 2019, 2018 and 2017, respectively.

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

(In thousands)	2019			2018			2017
Restricted stock	$	7,312		$	7,646		$	9,611
Tax benefits		(1,303	)		(2,242	)		(3,440	)
Stock-based compensation expense, net of tax	$	6,009		$	5,404		$	6,171

As of December 28, 2019, total unrecognized compensation cost related to non-vested restricted stock awards granted under the stock incentive plan was $4.9 million. The remaining compensation costs not yet recognized are expected to be recognized over a weighted average period of 2.4 years

The Company recognized tax deductions of $7.2 million, $5.6 million and $11.6 million related to the exercise of stock options and the vesting of restricted stock in 2019, 2018 and 2017, respectively.

The Company sponsors a stock bonus plan covering 300,000 shares of SpartanNash common stock. Under the provisions of this plan, certain officers and key associates may elect to receive a portion of their annual bonus in common stock rather than cash, which will be issued at 120% of cash value. After the shares are issued, the holder is not able to sell or otherwise transfer the shares until the end of the holding period, which is currently 24 months. Compensation expense is recorded based upon the market price of the stock as of the measurement date. During 2018, an additional 45,000 shares were authorized to be granted from the stock bonus plan. In 2019, 3,443 shares were issued leaving 41,557 shares remaining unissued under the stock bonus plan as of December 28, 2019.

The Company also sponsors an associate stock purchase plan covering 200,000 shares of SpartanNash common stock. The plan enables associates of the Company to purchase shares at 95% of the fair market value. As of December 28, 2019, a total of 130,185 shares had been issued under the plan.