Annual report pursuant to Section 13 and 15(d)

Stock Incentive Plans (Tables)

v2.4.0.8
Stock Incentive Plans (Tables)
 12 Months Ended
Dec. 29, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of status of the Company's stock option plans
The tables below summarize the status of the Company's stock option plans (in thousands, except per share data and exercise price):
 
 
Stock Options
 
 
Shares
 
Weighted Average Exercise Price
Outstanding, December 30, 2012
 
705

 
$
27.35

Granted
 
129

 
42.69

Cancelled
 
(51
)
 
31.21

Exercised
 
(292
)
 
25.99

Outstanding, December 29, 2013
 
491

 
$
31.78

 
 
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Years of
Contractual
Life
 
Aggregate
Intrinsic Value
Outstanding as of December 29, 2013
 
491

 
$
31.78

 
6.76
 
$
21,313

Vested and expected to vest as of December 29, 2013 (1)
 
447

 
$
31.05

 
6.58
 
$
19,752

Exercisable as of December 29, 2013
 
241

 
$
26.27

 
5.23
 
$
11,780

___________________________________
(1)
The expected to vest options are the result of applying the pre-vesting forfeiture rate assumption to total outstanding options.
Schedule of average assumptions used in estimation of fair value of options
The estimated fair value of each option granted is calculated using the Black-Scholes multiple option-pricing model. The average assumptions used in the model for the fiscal year ended December 29, 2013, December 30, 2012 and December 25, 2011 were as follows:
 
2013
 
2012
 
2011
 
Risk-free interest rate
0.7

%
0.7

%
1.2

%
Expected years until exercise
4.2

 
4.1

 
3.5

 
Expected stock volatility
44.4

%
52.8

%
60.3

%
Dividend yield
—

%
—

%
—

%
Weighted average Black-Scholes fair value per share at date of grant
$
15.19

 
$
14.60

 
$
14.21

 
Total intrinsic value of options exercised (in thousands)
$
8,263

 
$
1,477

 
$
657

 
Summary of the status of the Company's non-vested shares
The table below summarizes the status of the Company's non-vested shares under the 2007 Stock Plan (in thousands, except per share data and grant-date fair value):
 
 
Restricted Stock
 
 
Shares
 
Weighted Average Grant-Date Fair Value (per share)
Non-vested outstanding, December 30, 2012
 
4

 
$
14.93

Granted
 
—

 
—

Cancelled
 
—

 
—

Vested
 
(4
)
 
14.93

Non-vested outstanding, December 29, 2013
 
—

 
$
—

Time Based RSUs
  
Share-based compensation plan disclosures  
Summary of the status of the Company's restricted stock units
The table below summarizes the status of the Company's time-based RSUs under the 2007 Stock Plan (shares in thousands):
 
 
Restricted Stock Units
 
 
Shares
 
Weighted Average Grant-Date Fair Value (per share)
Outstanding, December 30, 2012
 
180

 
$
28.52

Granted
 
49

 
46.58

Cancelled
 
(10
)
 
33.04

Vested
 
(80
)
 
45.73

Outstanding, December 29, 2013
 
139

 
$
46.81