STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Oct. 01, 2016

STOCK-BASED COMPENSATION

Schedule of restricted stock activity

			Weighted
			Average
			Grant Date
			Fair value
	Shares		per Share
Unvested Restricted Shares:
Balance at beginning of fiscal year	1,625,477		$	2.46
Granted	224,378		$	10.66
Vested	(431,407	)	$	4.58
Forfeited	(98,543	)	$	1.01
Balance at end of period	1,319,905		$	3.26
Vested Restricted Shares:
Balance at beginning of fiscal year	2,913,207		$	1.72
Vested	431,407		4.58
Repurchased	(259,249	)	$	1.51
Balance at end of period	3,085,365		$	2.27

Schedule of stock option award using the Black-Scholes model

Stock price on date of grant	$	25.69
Exercise price	$	25.69
Expected term	6 years
Risk-free interest rate	1.36%
Expected dividend yield	2.2%
Expected volatility	23.8%

Schedule of restricted stock unit award during end of the period

			Weighted
			Average
			Grant Date
			Fair value
	Shares		per Share
Total Restricted Stock Units
Balance at beginning of fiscal year	—		—
Granted	240,843		$	25.69
Forfeited	(1,414	)	$	25.69
Balance at end of period	239,429		$	25.69
Vested Restricted Stock Units	—		—
Unvested shares at end of period	239,429		$	25.69
Expected to vest	225,348		$	25.69

Schedule of stock option award at the end of the period

					Weighted
			Weighted		Average	Aggregate
			Average		Remaining	Intrinsic
	Number of		Exercise		Contractual	Value (1)
	Shares		Price		Term	(in thousands)
Balance at beginning of fiscal year	—		—
Granted	648,301		$	25.69
Forfeited	(4,242	)	$	25.69
Balance outstanding at end of period	644,059		$	25.69	9.9 years	$	1,204
Options expected to vest	610,175		$	25.69	9.9 years	$	1,134

(1) Represents the total pre-tax intrinsic value, based on the closing price of our common stock on the New York Stock Exchange on October 1, 2016 and is the amount the option holders would have received had all option holders exercised their options on October 1, 2016.