Quarterly report pursuant to Section 13 or 15(d)

Stock Incentive Plans

v2.4.1.9
Stock Incentive Plans
 4 Months Ended
Apr. 19, 2015
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, and 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 19, 2015
 
April 20, 2014
 
Risk-free interest rate
1.4

%
1.7

%
Expected years until exercise
4.8

 
5.8

 
Expected stock volatility
40.6

%
44.7

%
Dividend yield
—

%
—

%
Weighted average Black-Scholes fair value per share at date of grant
$
29.69

 
$
31.53

 

The following table presents a summary of the Company’s stock-based compensation activity for the sixteen weeks ended April 19, 2015 (in thousands):
 
Stock Options
 
Restricted Stock Units
Outstanding, December 28, 2014
462

 
101

Granted
70

 
20

Forfeited/expired
(26
)
 
(6
)
Exercised/vested
(71
)
 
(17
)
Outstanding, April 19, 2015
435

 
98


We recognized expense from stock-based compensation for the sixteen weeks ended April 19, 2015 and April 20, 2014 as follows (in thousands):
 
Sixteen Weeks Ended
 
April 19, 2015
 
April 20, 2014
Restaurant related
$
35

 
$
31

Selling, general, and administrative related
1,411

 
978

Total stock-based compensation
$
1,446

 
$
1,009