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Stock Based Compensation (Tables)
 9 Months Ended
Sep. 27, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Activity in Stock Option Plan

The following table summarizes information regarding activity in our stock option plan during the nine months ended September 27, 2014:

 

 

Number of
Shares

 

 

Weighted
Average
Exercise Price
Per Share

 

  

Aggregate
Intrinsic
Value
(thousands)

 

Outstanding as of December 28, 2013 

  

1,102,842

 

 

$

3.97 

  

  

 

 

 

Granted 

  

135,900

 

 

$

8.66 

  

  

 

 

 

Exercised 

  

(296,459

)

 

$

3.99 

  

  

 

 

 

Canceled or forfeited 

 

(27,457

)

 

$

6.16 

  

  

 

 

 

Outstanding as of September 27, 2014 

 

914,826

 

 

$

4.60 

  

  

$

2,535

  

 
Weighted Average Assumptions for Fair Value Estimate of Stock-Based Awards (Options)

The Company uses the Black-Scholes option-pricing model to estimate fair value of stock-based awards (options) with the following weighted average assumptions:

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

September 27,
2014

 

 

September 28,
2013

 

 

September 27,
2014

 

 

September 28,
2013

 

Average risk free interest rate

 

1.56

%

 

 

1.26

% 

 

 

1.49

%

 

 

1.11

%

Expected life (in years)

 

4.5 years

 

 

 

4.5 years

  

 

 

4.5 years

 

 

 

4.5 years

 

Dividend yield

 

—

%

 

 

—

% 

 

 

—

% 

 

 

—

%

Average volatility

 

54

%

 

 

66

% 

 

 

56

% 

 

 

72

%

 
Stock-Based Compensation Expense

The following table shows stock-based compensation expense included in the condensed consolidated statements of operations for the three and nine months ended September 27, 2014 and September 28, 2013:

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

September 27,
2014

 

 

September 28,
2013

 

 

September 27,
2014

 

 

September 28,
2013

 

Cost of revenues

$

37

 

 

$

27

 

 

$

110

 

 

$

78

  

Research and development

 

27

 

 

 

17

 

 

 

75

 

 

 

53

  

Sales and marketing

 

26

 

 

 

30

 

 

 

86

 

 

 

80

  

General and administrative

 

154

 

 

 

103

 

 

 

451

 

 

 

300

  

 Total

$

244

 

 

$

177

 

 

$

722

 

 

$

511

  

 
Summary of Stock Options Outstanding, Vested and Expected to Vest and Exercisable

Information regarding stock options outstanding, vested and expected to vest and exercisable as of September 27, 2014 is summarized below:

 

 

Number of
Shares

  

 

Weighted 
Average
Exercise Price

 

  

Weighted 
Average
Remaining 
Contractual
Life (Years)

  

 

Aggregate
Intrinsic Value
(thousands)

 

Options outstanding

  

914,826

  

 

$

4.60

  

  

 

4.09

  

 

$

2,535

  

Options vested and expected to vest

  

855,313

  

 

$

4.48

  

  

 

3.97

  

 

$

2,448

  

Options exercisable

  

513,636

  

 

$

3.62

  

  

 

2.91

  

 

$

1,815

  

 
Restricted Stock Units and Awards

Information regarding the restricted stock units activity for the nine months ended September 27, 2014 is summarized below:

 

 

Number
of Shares

 

Outstanding as of December 28, 2013

  

269,259

 

Restricted stock units granted

  

59,780

 

Restricted stock units released 

  

(46,759

)

Restricted stock units cancelled

 

(2,445

)

Outstanding as of September 27, 2014 

  

279,835

 

 

Information regarding the restricted stock awards activity for the nine months ended September 27, 2014 is summarized below:

 

 

Number
of Shares

 

Outstanding as of December 28, 2013

  

3,503

 

Restricted stock awards granted

  

2,445

 

Restricted stock awards released

 

(3,503

)

Outstanding as of September 27, 2014 

  

2,445