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Stockholders' Equity (Tables)
 12 Months Ended
Jan. 02, 2016
Equity [Abstract]  
Summary of Activity in Stock Option Plan

The following table summarizes information regarding activity in our stock option plans during the fiscal years ended 2015, 2014 and 2013 (in thousands except share and per share data):

 

 

 

 

 

 

 

Outstanding Options

 

 

 

Shares

Available

for Grant

 

 

Number

of Shares

 

 

Weighted

Average

Exercise

Price

 

Balances as of December 29, 2012

 

 

741,978

 

 

 

1,570,543

 

 

$

3.63

 

Additional shares reserved

 

 

52,128

 

 

 

—

 

 

 

—

 

Options granted

 

 

(149,600

)

 

 

149,600

 

 

 

5.69

 

Restricted stock granted

 

 

(234,012

)

 

 

—

 

 

 

—

 

Options exercised

 

 

—

 

 

 

(493,622

)

 

 

3.03

 

Options cancelled

 

 

123,679

 

 

 

(123,679

)

 

 

5.64

 

Options expired

 

 

(57,628

)

 

 

—

 

 

 

—

 

Balances as of December 28, 2013

 

 

476,545

 

 

 

1,102,842

 

 

 

3.97

 

Additional shares reserved

 

 

503,306

 

 

 

—

 

 

 

—

 

Options granted

 

 

(158,300

)

 

 

158,300

 

 

 

8.61

 

Restricted stock granted

 

 

(62,225

)

 

 

—

 

 

 

—

 

Options exercised

 

 

—

 

 

 

(399,390

)

 

 

3.76

 

Options cancelled

 

 

27,957

 

 

 

(27,957

)

 

 

6.13

 

Awards cancelled

 

 

79,890

 

 

 

—

 

 

 

—

 

Options expired

 

 

(13,056

)

 

 

—

 

 

 

—

 

Balances as of January 3, 2015

 

 

854,117

 

 

 

833,795

 

 

 

4.88

 

Additional shares reserved

 

 

1,000

 

 

 

—

 

 

 

—

 

Options granted

 

 

(170,300

)

 

 

170,300

 

 

 

9.38

 

Restricted stock granted

 

 

(227,905

)

 

 

—

 

 

 

—

 

Options exercised

 

 

—

 

 

 

(277,733

)

 

 

3.70

 

Options cancelled

 

 

174,870

 

 

 

(174,870

)

 

 

4.71

 

Awards cancelled

 

 

146,000

 

 

 

—

 

 

 

—

 

Options expired

 

 

(7,000

)

 

 

—

 

 

 

—

 

Balances as of January 2, 2016

 

 

770,782

 

 

 

551,492

 

 

$

6.92

 

 
Stock Options Outstanding and Exercisable

The following table summarizes information with respect to stock options outstanding and exercisable as of January 2, 2016:

 

 

 

Options Outstanding

 

 

Options Vested and Exercisable

 

Range of Exercise Prices

 

Number of

Shares

Outstanding

 

 

Weighted

Average

Remaining

Contractual

Life (years)

 

 

Weighted

Average

Exercise

Price

 

 

Number of

Shares

Exercisable

 

 

Weighted

Average

Exercise

Price

 

$2.27 - $3.86

 

 

84,585

 

 

 

2.67

 

 

$

3.45

 

 

 

63,856

 

 

$

3.32

 

$3.89 - $4.31

 

 

70,533

 

 

 

2.18

 

 

$

4.11

 

 

 

63,133

 

 

$

4.13

 

$4.74 - $5.92

 

 

78,265

 

 

 

4.53

 

 

$

5.47

 

 

 

40,774

 

 

$

5.42

 

$6.00 - $8.16

 

 

104,637

 

 

 

6.25

 

 

$

7.50

 

 

 

14,896

 

 

$

6.68

 

$8.29 - $8.58

 

 

73,925

 

 

 

5.15

 

 

$

8.46

 

 

 

32,751

 

 

$

8.46

 

$8.60 - $9.34

 

 

51,813

 

 

 

5.32

 

 

$

9.01

 

 

 

21,584

 

 

$

9.04

 

$10.14 - $10.14

 

 

17,400

 

 

 

6.32

 

 

$

10.14

 

 

 

—

 

 

$

—

 

$10.19 - $10.19

 

 

3,000

 

 

 

4.92

 

 

$

10.19

 

 

 

1,563

 

 

$

10.19

 

$10.45 - $10.45

 

 

800

 

 

 

6.16

 

 

$

10.45

 

 

 

100

 

 

$

10.45

 

$10.73 - $10.73

 

 

66,534

 

 

 

6.07

 

 

$

10.73

 

 

 

14,552

 

 

$

10.73

 

$2.27 - $10.73

 

 

551,492

 

 

 

4.68

 

 

$

6.92

 

 

 

253,209

 

 

$

5.68

 

 
Weighted Average Assumptions for Fair Value of Options Granted

The determination of the fair value of options granted is computed using the Black-Scholes option pricing model with the following weighted average assumptions:

 

 

 

Employee Stock Option Plan

 

 

 

FY 2015

 

 

FY 2014

 

 

FY 2013

 

Average risk free interest rate

 

 

1.38

%

 

 

1.49

%

 

 

1.12

%

Expected life (in years)

 

4.55 years

 

 

4.50 years

 

 

4.50 years

 

Dividend yield

 

 

—

 

 

 

—

 

 

 

—

 

Average volatility

 

 

49.3

%

 

 

56.2

%

 

 

71.5

%

 
Stock-Based Compensation Expense

The following table shows stock-based compensation expense by functional line item in the consolidated statements of operations for 2015, 2014 and 2013 (in thousands):

 

 

 

FY 2015

Year Ended

 

 

FY 2014

Year Ended

 

 

FY 2013

Year Ended

 

 

 

January 2, 2016

 

 

January 3, 2015

 

 

December 28, 2013

 

Cost of revenues

 

$

223

 

 

$

149

 

 

$

108

 

Research and development

 

 

176

 

 

 

105

 

 

 

71

 

Sales and marketing

 

 

185

 

 

 

118

 

 

 

113

 

General and administrative

 

 

311

 

 

 

600

 

 

 

397

 

Total stock-based compensation expense

 

$

895

 

 

$

972

 

 

$

689

 

 
Stock Options Outstanding, Exercisable and Expected to Vest

Information regarding stock options outstanding, exercisable and expected to vest as of January 2, 2016 is summarized below:

 

 

 

Number of

 

 

Weighted Average

 

 

Weighted Average

Remaining Contractual

 

 

Aggregate Intrinsic

Value

 

 

 

Shares

 

 

Exercise Price

 

 

Life (years)

 

 

(thousands)

 

Options outstanding

 

 

551,492

 

 

$

6.92

 

 

 

4.68

 

 

$

1,422

 

Options vested and expected to vest

 

 

511,414

 

 

$

6.82

 

 

 

4.58

 

 

$

1,366

 

Options exercisable

 

 

253,209

 

 

$

5.68

 

 

 

3.56

 

 

$

937

 

 
Restricted Stock Units Outstanding, Vested and Expected to Vest

Information regarding the restricted stock units outstanding, vested and expected to vest as of January 2, 2016 is summarized below:

 

 

 

Number of

Shares

 

 

Weighted Average

Remaining Contractual

Life (years)

 

 

Aggregate Intrinsic

Value (thousands)

 

Restricted stock units outstanding

 

 

147,589

 

 

 

2.69

 

 

$

1,371

 

Restricted stock units vested and expected to vest

 

 

109,852

 

 

 

2.57

 

 

$

1,021

 

 
Restricted Stock Units and Awards

Information regarding the RSU activity during the years ended January 2, 2016, January 3, 2015 and December 28, 2013 is summarized below:

 

 

 

Number of

Shares

 

 

Weighted Average

Grant Date Fair

Value

 

Outstanding as of December 29, 2012

 

 

55,999

 

 

$

3.85

 

Restricted stock units granted

 

 

230,509

 

 

$

4.51

 

Restricted stock units released

 

 

(17,249

)

 

$

3.77

 

Outstanding as of December 28, 2013

 

 

269,259

 

 

$

4.42

 

Restricted stock units granted

 

 

59,780

 

 

$

9.76

 

Restricted stock units released

 

 

(46,759

)

 

$

9.29

 

Restricted stock units forfeited

 

 

(4,890

)

 

$

8.18

 

Outstanding as of January 3, 2015

 

 

277,390

 

 

$

4.68

 

Restricted stock units granted

 

 

225,392

 

 

$

8.66

 

Restricted stock units released

 

 

(209,193

)

 

$

8.73

 

Restricted stock units forfeited

 

 

(146,000

)

 

$

8.67

 

Outstanding as of January 2, 2016

 

 

147,589

 

 

$

1.05

 

 

Information regarding the restricted stock awards activity during the year ended January 2, 2016, January 3, 2015 and December 28, 2013 is summarized below:

 

 

 

Number of

Shares

 

 

Weighted Average

Grant Date Fair

Value

 

Outstanding as of December 29, 2012

 

 

10,666

 

 

$

3.75

 

Restricted stock awards granted

 

 

3,503

 

 

$

5.71

 

Restricted stock awards released

 

 

(10,666

)

 

$

3.75

 

Outstanding as of December 28, 2013

 

 

3,503

 

 

$

5.71

 

Restricted stock awards granted

 

 

2,445

 

 

$

8.18

 

Restricted stock awards released

 

 

(3,503

)

 

$

5.71

 

Outstanding as of January 3, 2015

 

 

2,445

 

 

$

8.18

 

Restricted stock awards granted

 

 

2,513

 

 

$

7.96

 

Restricted stock awards released

 

 

(2,445

)

 

$

7.96

 

Outstanding as of January 2, 2016

 

 

2,513

 

 

$

7.96