Annual report pursuant to Section 13 and 15(d)

Equity-Based Compensation (Tables)

v2.4.0.8
Equity-Based Compensation (Tables)
12 Months Ended
Dec. 28, 2013
Equity-Based Compensation [Abstract]  
Schedule Of Remaining Unrecognized Compensation Expense For Unvested Awards

 

 

 

 

 

 

2014

 

$          5,948

2015

 

4,040 

2016

 

2,085 

2017

 

1,286 

2018

 

236 

 

 

$        13,595

 

 

 

The cost above is expected to be recognized over a weighted-average period of 1.9 years.

 

 

 

 

 

 

Schedule Of Fair Value Assumptions

 

 

 

 

 

 

 

 

 

Year Ended

 

 

2011

 

2012

 

2013

 

 

 

 

 

 

 

Expected volatility (1)

 

56.0% 

 

50.7% 

 

41.9% 

Risk-free interest rate (2)

 

1.1% 

 

0.6% 

 

0.7% 

Expected life (3)

 

3.9 yrs.

 

3.9 yrs.

 

3.9 yrs.

Expected dividend yield (4)

 

0.0% 

 

0.0% 

 

0.0% 

Weighted-average grant price (5)

 

$
28.89 

 

$
39.41 

 

$
53.83 

 

 

 

 

 

 

 

(1) Through June, 2012 expected volatility was a weighted-average of historical volatility and implied volatility.

In July 2012, the Company eliminated the implied volatility aspect of this calculation and began utilizing

historical volatility alone.

 

 

 

 

 

 

(2) Risk-free interest rate is based on the U.S. Treasury yield curve with respect to the expected life of the award.

(3) For awards that follow the 20% per year vesting schedule, expected life is a weighted-average that includes

historical settlement data of the Company's equity awards and a hypothetical holding period for outstanding

awards.  Due to lack of historical settlement data on awards that follow the 50% vesting at each of years four

and five, expected life of these awards is calculated under the simplified method.

(4) The Company historically has not paid dividends.

(5) Grant price is the closing price of the Company's common stock on the date of grant.

 

 

 

 

 

 

 

 

Schedule Of Stock Option Activity

 

 

 

 

 

 

 

 

 

 

 

 

Shares

 

Weighted-average exercise price

 

Weighted-average remaining contractual term

 

Aggregate intrinsic value*

 

Outstanding at December 29, 2012

 

2,689 

 

$          34.43

 

2.9 

 

$          5,136

 

Granted

 

175 

 

53.83 

 

 

 

 

 

Exercised

 

(939)

 

32.20 

 

 

 

 

 

Canceled

 

(98)

 

35.87 

 

 

 

 

 

Expired

 

 -

 

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 28, 2013

 

1,827 

 

$          37.37

 

2.6 

 

$        74,160

 

 

 

 

 

 

 

 

 

 

 

Exercisable at December 28, 2013

 

540 

 

$          35.73

 

1.8 

 

$        22,678

 

 

 

 

 

 

 

 

 

 

 

*   Aggregate intrinsic value is defined as the difference between the current market value at the reporting

 

 

 

date (the closing price of the Company's common stock on the last trading day of the period) and the

 

 

 

exercise price of awards that were in-the-money.  The closing price of the Company's common stock at

 

 

 

December 29, 2012 and December 28, 2013, was $31.60 and $77.72, respectively.