Annual report pursuant to Section 13 and 15(d)

Stock Incentive Plans (Tables)

v3.3.1.900
Stock Incentive Plans (Tables)
 12 Months Ended
Dec. 27, 2015
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 28, 2014
 
462

 
$
38.83

Granted
 
72

 
81.84

Forfeited/expired
 
(44
)
 
49.35

Exercised
 
(95
)
 
36.49

Outstanding, December 27, 2015
 
395

 
$
46.04

 
 
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Years of
Contractual
Life
 
Aggregate
Intrinsic Value
Outstanding as of December 27, 2015
 
395

 
$
46.04

 
6.10
 
$
8,155

Vested and expected to vest as of December 27, 2015 (1)
 
379

 
$
44.87

 
6.00
 
$
8,107

Exercisable as of December 27, 2015
 
230

 
$
32.03

 
4.68
 
$
7,013

___________________________________
(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 years ended December 27, 2015, December 28, 2014, and December 29, 2013 were as follows:
 
2015
 
2014
 
2013
 
Risk-free interest rate
1.4

%
 
1.7

%
 
0.7

%
 
Expected years until exercise
4.8

 
 
5.7

 
 
4.2

 
 
Expected stock volatility
40.6

%
 
44.6

%
 
44.4

%
 
Dividend yield
—

%
 
—

%
 
—

%
 
Weighted average Black-Scholes fair value per share at date of grant
$
29.71

 
 
$
30.70

 
 
$
15.19

 
 
Total intrinsic value of options exercised (in thousands)
$
4,414

 
 
$
3,954

 
 
$
8,263

 
 
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 28, 2014
 
101

 
$
49.78

Awarded
 
33

 
82.52

Forfeited
 
(13
)
 
53.79

Vested
 
(46
)
 
42.82

Outstanding, December 27, 2015
 
75

 
$
67.74