Red Robin Gourmet Burgers, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stock Incentive Plans

Stock Incentive Plans

4 Months Ended

Apr. 20, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Under the Company's Second Amended and Restated 2007 Performance Incentive Plan (the "2007 Stock Plan"), various stock options and stock awards may be granted to employees of the Company and any of the Company's subsidiaries, directors of the Company, certain consultants and advisors to the Company or any of its subsidiaries.

Stock options are granted with an exercise price equal to the fair market value of shares of the Company's common stock at the grant date. We account for stock-based compensation in accordance with fair value recognition provisions, calculated using the Black-Scholes option pricing model ("the pricing model"). The weighted-average fair value of non-qualified stock options and the related assumptions used in the pricing model were as follows:



	Sixteen Weeks Ended
	April 20, 2014			April 21, 2013
Risk-free interest rate	1.7		%	0.7		%
Expected years until exercise	5.8			4.1
Expected stock volatility	44.7		%	44.3		%
Dividend yield	—		%	—		%
Weighted average Black-Scholes fair value per share at date of grant	$	31.53		$	14.84

The following table presents a summary of the Company's stock-based compensation activity for the sixteen weeks ended April 20, 2014 (in thousands):



	Stock Options		Restricted Stock Units
Outstanding, December 29, 2013	491		139
Granted	67		19
Forfeited/ expired	(6	)	(4	)
Exercised/ vested	(42	)	(22	)
Outstanding, April 20, 2014	510		132

We recognized expense from stock-based compensation for sixteen weeks ended April 20, 2014 as follows (in thousands):



	Sixteen Weeks Ended
	April 20, 2014		April 21, 2013
Labor related	$	31	$	69
Selling, general and administrative related	978		1,123
Total stock-based compensation	$	1,009	$	1,192