STOCK-BASED COMPENSATION |
6 Months Ended | ||||||||||||
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Jun. 27, 2021 | |||||||||||||
| Share-based Payment Arrangement [Abstract] | |||||||||||||
| STOCK-BASED COMPENSATION |
The Company recorded expense of approximately $6.0 million and $10.3 million the second quarter and six months ended June 27, 2021, respectively, for its stock-based compensation plans in the condensed consolidated statements of income. Stock based compensation expense of $2.0 million and $6.3 million was recorded in the second quarter and six months ended June 28, 2020, which includes a $2.4 million reduction of expense in both periods due to certain forfeitures and adjustments.
The Board approved various stock-based grants under the Company’s 2009 Omnibus Incentive Plan in the first six months of 2021 totaling 230,073 shares in the aggregate at an average fair value of $73.53 at grant date for a total fair value at grant date of $16.9 million.
As of June 27, 2021, there was approximately $31.7 million of total unrecognized compensation cost related to stock-based compensation arrangements granted under incentive plans. That cost is expected to be recognized over a weighted-average period of 20.1 months.
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