The Company sponsors shareholder-approved stock incentive plans that provide for the granting of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance share units, dividend equivalent rights, 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 earnings, and related tax impacts were as follows:


	16 Weeks Ended
(In thousands)	April 22, 2023			April 23, 2022
Restricted stock expense	$	4,801		$	4,295
Performance share unit expense		346			—
Income tax benefit		(2,166	)		(2,590	)
Stock-based compensation expense, net of tax	$	2,981		$	1,705

The following table summarizes activity in the stock incentive plans for the 16 weeks ended April 22, 2023:


				Weighted				Weighted
	Restricted			Average		Performance		Average
	Stock			Grant-Date		Share Unit		Grant-Date
	Awards			Fair Value		Awards		Fair Value
Outstanding at December 31, 2022		863,063		$	22.05		—	$	—
Granted		425,232			27.22		286,564		27.24
Vested		(424,730	)		21.10		—		—
Cancelled/Forfeited		(6,685	)		25.57		—		—
Outstanding at April 22, 2023		856,880		$	25.06		286,564	$	27.24

As of April 22, 2023, total unrecognized compensation cost related to nonvested restricted stock awards granted under the Company’s stock incentive plans is $15.0 million and is expected to be recognized over a weighted average period of 2.2 years. As of April 22, 2023, total unrecognized compensation cost related to nonvested performance share unit awards granted under the Company’s stock incentive plans is $7.5 million and is expected to be recognized over a weighted average period of 2.7 years.

On October 7, 2020, in connection with its entry into a commercial agreement with Amazon.com, Inc. (“Amazon”), the Company issued Amazon.com NV Investment Holdings LLC, a subsidiary of Amazon, a warrant to acquire up to an aggregate of 5,437,272 shares of the Company’s common stock (the “Warrant”), subject to certain vesting conditions. Warrant shares equivalent to 2.5% of the Company’s outstanding and issuable shares, or 1,087,455 shares, vested upon the signing of the commercial agreement and had a grant date fair value of $5.51 per share. Warrant shares equivalent to up to 10.0% of the Company’s outstanding and issuable shares, or 4,349,817 shares, may vest in connection with conditions defined by the terms of the Warrant, as Amazon makes payments to the Company in connection with the commercial supply agreement, in increments of $200 million, and had a grant date fair value of $5.33 per share. Upon vesting, shares may be acquired at an exercise price of $17.7257. The Warrant contains customary anti-dilution, down-round and change-in-control provisions. The right to purchase shares in connection with the Warrant expires on October 7, 2027.

Share-based payment expense recognized as a reduction of “Net sales” in the condensed consolidated statements of earnings, and related tax benefits were as follows:


	16 Weeks Ended
(In thousands)	April 22, 2023			April 23, 2022
Warrant expense	$	607		$	673
Income tax benefit		(65	)		(50	)
Warrant expense, net of tax	$	542		$	623

The following table summarizes stock warrant activity for the 16 weeks ended April 22, 2023:


	Warrant
Outstanding and nonvested at December 31, 2022		3,479,849
Vested		(108,746	)
Outstanding and nonvested at April 22, 2023		3,371,103

As of April 22, 2023, total unrecognized cost related to nonvested warrant shares was $17.9 million, which may be expensed as vesting conditions are satisfied over the remaining term of the agreement, or 4.5 years. Warrants representing 2,066,169 shares are vested and exercisable. As of April 22, 2023, nonvested warrant shares had an intrinsic value of $23.6 million, and vested warrant shares had an intrinsic value of $14.5 million.