Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v2.4.0.6
Stock-Based Compensation
 4 Months Ended
Apr. 21, 2013
Stock-Based Compensation  
Stock-Based Compensation

3.                        Stock-Based Compensation

 

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

 

 

 

2013

 

2012

 

Risk-free interest rate

 

0.7

%

0.7

%

Expected years until exercise

 

4.1

 

4.1

 

Expected stock volatility

 

44.3

%

52.8

%

Dividend yield

 

—

%

—

%

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

 

$

14.84

 

$

14.60

 

 

The following table presents a summary of the Company’s stock-based compensation activity for the 16 weeks ended April 21, 2013:

 

(in thousands)

 

Stock
Options

 

Restricted
Stock Units

 

Restricted
Stock

 

Performace
Stock Units

 

Outstanding, December 30, 2012

 

705

 

180

 

4

 

35

 

Granted

 

124

 

30

 

—

 

6

 

Exercised

 

(114

)

(24

)

(4

)

(21

)

Cancelled

 

(12

)

(3

)

—

 

 

 

Outstanding, April 21, 2013

 

703

 

183

 

—

 

20