Quarterly report pursuant to Section 13 or 15(d)

Stock Incentive Plans

v2.4.0.8
Stock Incentive Plans
 6 Months Ended
Jul. 13, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Incentive Plans
Stock Incentive Plans
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:
 
Twelve Weeks Ended
 
Twenty-eight Weeks Ended
 
 
July 13, 2014
 
July 14, 2013
 
July 13, 2014
 
July 14, 2013
 
Risk-free interest rate
1.5

%
1.0

%
1.7

%
0.7

%
Expected years until exercise
5.0

 
4.1

 
5.8

 
4.2

 
Expected stock volatility
46.1

%
44.2

%
44.8

%
44.4

%
Dividend yield
—

%
—

%
—

%
—

%
Weighted average Black-Scholes fair value per share at date of grant
$
30.05

 
$
21.14

 
$
31.43

 
$
15.19

 

The following table presents a summary of the Company's stock-based compensation activity for the twenty-eight weeks ended July 13, 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

Granted
5

 
13

Forfeited/expired
(3
)
 
(1
)
Exercised/vested
(19
)
 
(33
)
Outstanding, July 13, 2014
493

 
111


We recognized expense from stock-based compensation for twelve weeks and twenty-eight weeks ended July 13, 2014 and July 14, 2013 as follows (in thousands):
 
Twelve Weeks Ended
 
Twenty-eight Weeks Ended
 
July 13, 2014
 
July 14, 2013
 
July 13, 2014
 
July 14, 2013
Labor related
$
18

 
$
34

 
$
49

 
$
103

Selling, general and administrative related
1,003

 
1,016

 
1,981

 
2,139

Total stock-based compensation
$
1,021

 
$
1,050

 
$
2,030

 
$
2,242