Sprouts Farmers Market 2014 Annual Report Download - page 110

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Equity-based compensation expense was as follows:
Year Ended
December 28,
2014
December 29,
2013
December 30,
2012
Cost of sales, buying and occupancy ............. $ 695 $ 672 $ 502
Direct store expenses ......................... 788 104 127
Selling, general and administrative expenses ...... 3,872 5,004 4,024
Total equity-based compensation expense ........ $5,355 $5,780 $4,653
The Company recognized income tax benefits of $2.1 million, $2.3 million and $1.9 million for 2014,
2013, and 2012, respectively.
As of December 28, 2014, total unrecognized compensation expense related to outstanding options
was $3.7 million, which, if the service and performance conditions are fully met, is expected to be
recognized over the next 1.3 years on a weighted-average basis.
As of December 28, 2014, total unrecognized compensation expense related to outstanding RSUs
was $2.7 million, which, if the service and performance conditions are fully met, is expected to be
recognized over the next 1.8 years on a weighted-average basis.
During the years ended December 28, 2014, December 29, 2013, and December 30, 2012, the
Company received $11.1 million, $3.8 million and $0.5 million in cash proceeds from the exercise of
options, respectively.
During the years ended December 28, 2014, December 29, 2013 and December 30, 2012, the
Company recorded $47.3 million, $13.4 million and $0.1 million of excess tax benefits from the exercise of
options, respectively.
During the years ended December 28, 2014, the Company capitalized $0.6 million of equity-based
compensation expense related to new store development as Property and Equipment. No equity-based
compensation was capitalized during the years ended December 29, 2013 and December 30, 2012.
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