Annual report pursuant to Section 13 and 15(d)

Stock Incentive Plans (Tables)

v3.6.0.2
Stock Incentive Plans (Tables)
 12 Months Ended
Dec. 25, 2016
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 27, 2015
 
395

 
$
46.04

Granted
 
160

 
60.57

Forfeited/expired
 
(54
)
 
65.23

Exercised
 
(93
)
 
25.82

Outstanding, December 25, 2016
 
408

 
$
53.82

 
 
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Years of
Contractual
Life
 
Aggregate
Intrinsic Value
Outstanding as of December 25, 2016
 
408

 
$
53.82

 
6.89
 
$
3,922

Vested and expected to vest as of December 25, 2016 (1)
 
383

 
$
53.26

 
6.74
 
$
3,865

Exercisable as of December 25, 2016
 
197

 
$
42.86

 
5.01
 
$
3,472

___________________________________
(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 25, 2016, December 27, 2015, and December 28, 2014 were as follows:
 
2016
 
2015
 
2014
 
Risk-free interest rate
1.2

%
 
1.4

%
 
1.7

%
 
Expected years until exercise
4.5

 
 
4.8

 
 
5.7

 
 
Expected stock volatility
39.0

%
 
40.6

%
 
44.6

%
 
Dividend yield
—

%
 
—

%
 
—

%
 
Weighted average Black-Scholes fair value per share at date of grant
$
20.45

 
 
$
29.71

 
 
$
30.70

 
 
Total intrinsic value of options exercised (in thousands)
$
2,624

 
 
$
4,414

 
 
$
3,954

 
 
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 27, 2015
 
75

 
$
67.74

Awarded
 
60

 
57.08

Forfeited
 
(15
)
 
69.14

Vested
 
(38
)
 
64.65

Outstanding, December 25, 2016
 
82

 
$
61.16