LRutigliano, I'm not so sure that is your wear indicator. I just grabbed a quarter and measured it with my tread gauge indicator, and it looks like you still have 7/32" there. If those tires are "snowflake" rated, that indicator may just be the one that tells you they aren't suitable for winter use, anymore. That depth is where my Nitto Dura Grapplers are now, and when spring comes along they will go back on my truck until they are done. . probably until fall.
Also, on the very edge of your tire, you will see several indicators that say something like "twi" (Tread Wear Indicator). Those are lined up with your true indicators. (on Michelins, the TWI is a picture of "Bibendo", (the Michelin man). Who says the French don't have a sense of humor?...