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Stock Based Compensation (Tables)
 3 Months Ended
Apr. 02, 2016
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 three months ended April 2, 2016:

 

 

 

Number of

Shares

 

 

Weighted

Average

Exercise Price

Per Share

 

 

Aggregate

Intrinsic

Value

(thousands)

 

Outstanding as of January 2, 2016

 

 

551,492

 

 

$

6.92

 

 

 

 

 

Granted

 

 

26,100

 

 

$

10.33

 

 

 

 

 

Exercised

 

 

(53,500

)

 

$

4.59

 

 

 

 

 

Canceled or forfeited

 

 

(13,334

)

 

$

10.18

 

 

 

 

 

Outstanding as of April 2, 2016

 

 

510,758

 

 

$

7.25

 

 

$

1,477

 

 
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

 

 

 

April 2,

2016

 

 

April 4,

2015

 

Average risk free interest rate

 

 

1.20

%

 

 

1.21

%

Expected life (in years)

 

4.55 years

 

 

4.55 years

 

Dividend yield

 

—%

 

 

—%

 

Average volatility

 

 

47

%

 

 

51

%

 
Stock-Based Compensation Expense

The following table shows stock-based compensation expense included in the condensed consolidated statements of operations for the three months ended April 2, 2016 and April 4, 2015:

 

 

 

Three Months Ended

 

 

 

April 2,

2016

 

 

April 4,

2015

 

Cost of revenues

 

$

51

 

 

$

67

 

Research and development

 

 

32

 

 

 

79

 

Sales and marketing

 

 

40

 

 

 

59

 

General and administrative

 

 

99

 

 

 

128

 

 

 

$

222

 

 

$

333

 

 
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 April 2, 2016 is summarized below:

 

 

 

Number of

Shares

 

 

Weighted

Average

Exercise Price

 

 

Weighted

Average

Remaining

Contractual

Life (Years)

 

 

Aggregate

Intrinsic Value

(thousands)

 

Options outstanding

 

 

510,758

 

 

$

7.25

 

 

 

4.74

 

 

$

1,477

 

Options vested and expected to vest

 

 

467,617

 

 

$

7.14

 

 

 

4.64

 

 

$

1,404

 

Options exercisable

 

 

229,415

 

 

$

6.07

 

 

 

3.72

 

 

$

923

 

 
Restricted Stock Units and Awards

Information regarding the restricted stock units activity for the three months ended April 2, 2016 is summarized below:

 

 

 

Number

of Shares

 

Outstanding as of January 2, 2016

 

 

147,589

 

Restricted stock units granted

 

 

210,000

 

Restricted stock units released

 

 

(5,600

)

Restricted stock units cancelled

 

 

—

 

Outstanding as of April 2, 2016

 

 

351,989