Stock-Based Compensation |
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| Stock-Based Compensation | 18. STOCK-BASED COMPENSATION The following is a summary of the activity under the company's 2014 Omnibus Equity and Incentive Compensation Plan (the "Omnibus Plan") and the 2026 Equity and Incentive Compensation Plan (the "2026 EICP"). On April 2, 2026, our Board of Directors approved and adopted the 2026 EICP and it was approved by our shareholders on May 29, 2026. The 2026 EICP authorizes the compensation and human capital committee of the Board of Directors to provide equity-based compensation in the form of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units, dividend equivalents and other awards to provide our officers, key employees, and non-employee directors’ incentives and rewards for performance. Equity awards granted on or after May 29, 2026 are governed by the 2026 EICP. Awards granted under the 2026 EICP are limited to the authorized amount of 8,400,000 shares. The company typically grants awards at the beginning of its fiscal year. Information on grants to employees during the twenty-eight weeks ended July 18, 2026 is discussed below. Performance-Contingent Restricted Stock Awards Performance-Contingent Total Shareholder Return Shares (“TSR Shares”) The following performance-contingent TSR Shares have been granted during the twenty-eight weeks ended July 18, 2026 under the Omnibus Plan (amounts in thousands, except price data):
Performance-Contingent Return on Invested Capital Shares (“ROIC Shares”) The performance condition for the ROIC Shares generally requires the company's average return on invested capital to exceed its average weighted cost of capital by between 1.50 to 4.50 percentage points for the 2026, 2025, 2024 awards (the "ROI Target") over the three fiscal year performance period. The 2024 award is being expensed at our current estimated payout percentage of 150% of ROI Target, and the 2025 and 2026 awards are being expensed at 100%. The following performance-contingent ROIC Shares have been granted under the Omnibus Plan during the twenty-eight weeks ended July 18, 2026 (amounts in thousands, except price data):
The table below presents the TSR modifier share adjustment (a 13.25% final payout), ROIC modifier share adjustment (a 125% final payout), accumulated dividends on vested shares, and the tax benefit at vesting of the performance-contingent restricted stock awards (amounts in thousands, except for share data):
The company’s performance-contingent restricted stock activity for the twenty-eight weeks ended July 18, 2026 is presented below (amounts in thousands, except price data):
As of July 18, 2026, there was $17.4 million of total unrecognized compensation cost related to non-vested restricted stock granted under the Omnibus Plan. That cost is expected to be recognized over a weighted-average period of 1.90 years. Time-Based Restricted Stock Units ("TBRSU Shares") The following TBRSU Shares have been granted under the plans during the twenty-eight weeks ended July 18, 2026 (amounts in thousands, except price data):
The TBRSU Shares activity for the twenty-eight weeks ended July 18, 2026 is set forth below (amounts in thousands, except price data):
The table below presents the accumulated dividends on vested shares and the tax expense at vesting of the time-based restricted stock units (amounts in thousands).
Stock-Based Payments Compensation Expense Summary The following table summarizes the company’s stock-based compensation expense for the twelve and twenty-eight weeks ended July 18, 2026 and July 12, 2025, (amounts in thousands):
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