Annual report pursuant to Section 13 and 15(d)

Stock Incentive Plans (Tables)

v3.10.0.1
Stock Incentive Plans (Tables)
 12 Months Ended
Dec. 30, 2018
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 31, 2017
 
469

 
$
54.60

Granted
 
128

 
60.42

Forfeited/expired
 
(95
)
 
57.98

Exercised
 
(19
)
 
26.12

Outstanding, December 30, 2018
 
483

 
$
56.62

 
 
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Years of
Contractual
Life
 
Aggregate
Intrinsic Value
Outstanding as of December 30, 2018
 
483

 
$
56.62

 
6.82
 
$
67

Vested and expected to vest as of December 30, 2018 (1)
 
444

 
$
56.62

 
6.66
 
$
67

Exercisable as of December 30, 2018
 
246

 
$
55.59

 
5.36
 
$
67

___________________________________
(1) The expected to vest options are the result of applying the pre-vesting forfeiture rate assumption to total outstanding options. The Company applies estimated forfeiture rates that are derived from our historical forfeitures of similar awards.
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 30, 2018, December 31, 2017, and December 25, 2016 were as follows:
 
2018
 
2017
 
2016
 
Risk-free interest rate
2.5

%
 
1.8

%
 
1.2

%
 
Expected years until exercise
3.2

 
 
5.0

 
 
4.5

 
 
Expected stock volatility
43.4

%
 
37.9

%
 
39.0

%
 
Dividend yield
—

%
 
—

%
 
—

%
 
Weighted average Black-Scholes fair value per share at date of grant
$
16.56

 
 
$
17.11

 
 
$
20.45

 
 
Total intrinsic value of options exercised (in thousands)
$
390

 
 
$
1,676

 
 
$
2,624

 
 
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 2017 and 2007 Stock Plans (shares in thousands):
 
 
Restricted Stock Units
 
 
Shares
 
Weighted Average Grant-Date Fair Value (per share)
Outstanding, December 31, 2017
 
102

 
$
57.51

Awarded
 
80

 
52.64

Forfeited
 
(24
)
 
55.09

Vested
 
(39
)
 
62.51

Outstanding, December 30, 2018
 
119

 
$
53.13

Summary of status of Company's performance based stock units
The table below summarizes the status of the Company’s performance stock units under the 2017 Stock Plan (shares in thousands):
 
 
Performance Stock Units
 
 
Shares
 
Weighted Average Grant-Date Fair Value (per share)
Outstanding, December 31, 2017
 
30

 
$
48.87

Awarded
 
38

 
61.25

Forfeited
 
(5
)
 
61.25

Vested
 
—

 
—

Outstanding, December 30, 2018
 
63

 
$
55.35