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Stockholders' Equity (Tables)
12 Months Ended
Jan. 02, 2021
Equity [Abstract]  
Share Activity and Total Number of Share Available for Grant

The following table represents the shares activity and the total number of shares available for grant under the Incentive Plan:

 

 

 

Shares

Available

for Grant

 

Balances as of December 29, 2018

 

 

700,962

 

Additional shares reserved

 

 

1,000,000

 

Options granted

 

 

(853,650

)

Restricted stock granted

 

 

(443,036

)

Options cancelled or forfeited

 

 

314,786

 

Awards cancelled

 

 

388,461

 

Balances as of December 28, 2019

 

 

1,107,523

 

Options granted

 

 

(523,650

)

Restricted stock granted

 

 

(557,816

)

Options cancelled or forfeited

 

 

257,662

 

Awards cancelled

 

 

194,303

 

Balances as of January 2, 2021

 

 

478,022

 

Stock-Based Compensation Expenses

The following table shows stock-based compensation expenses by functional area in the consolidated statements of operations for 2020 and 2019 (in thousands):

 

 

 

FY 2020

 

 

FY 2019

 

 

 

Year Ended

 

 

Year Ended

 

 

 

January 2, 2021

 

 

December 28, 2019

 

Cost of revenues

 

$

133

 

 

$

75

 

Research and development

 

 

(4

)

 

 

174

 

Sales and marketing

 

 

429

 

 

 

409

 

General and administrative

 

 

561

 

 

 

1,045

 

Total stock-based compensation expense

 

$

1,119

 

 

$

1,703

 

Summary of Activity in Stock Option Plan

Summary of Stock Options

The following table summarizes information regarding activity in our stock option plans during the fiscal years ended 2020 and 2019 (in thousands except share and per share data):

 

 

 

Outstanding Options

 

 

 

Number

of Shares

 

 

Weighted

Average

Exercise

Price

 

Balances as of December 29, 2018

 

 

844,898

 

 

$

8.84

 

Options granted

 

 

853,650

 

 

 

4.55

 

Options exercised

 

 

(210

)

 

 

3.49

 

Options cancelled or forfeited

 

 

(314,786

)

 

 

9.20

 

Balances as of December 28, 2019

 

 

1,383,552

 

 

$

6.11

 

Options granted

 

 

523,650

 

 

 

2.13

 

Options exercised

 

 

 

 

 

 

Options cancelled or forfeited

 

 

(257,662

)

 

 

7.23

 

Balances as of January 2, 2021

 

 

1,649,540

 

 

$

4.67

 

 

Stock Options Outstanding and Exercisable

The following table summarizes information with respect to stock options outstanding and exercisable as of January 2, 2021:

 

 

 

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

 

$1.70 - $2.12

 

 

32,400

 

 

 

6.01

 

 

$

1.85

 

 

 

5,018

 

 

$

1.82

 

$2.13 - $2.13

 

 

434,950

 

 

 

6.67

 

 

$

2.13

 

 

 

 

 

$

 

$2.18 - $4.33

 

 

174,200

 

 

 

5.73

 

 

$

2.75

 

 

 

41,016

 

 

$

3.12

 

$4.60 - $4.85

 

 

30,000

 

 

 

5.28

 

 

$

4.73

 

 

 

12,813

 

 

$

4.72

 

$4.92 - $4.92

 

 

600,000

 

 

 

5.38

 

 

$

4.92

 

 

 

237,500

 

 

$

4.92

 

$4.98 - $8.29

 

 

168,100

 

 

 

4.36

 

 

$

5.76

 

 

 

98,921

 

 

$

5.94

 

$8.33 - $11.16

 

 

174,428

 

 

 

2.15

 

 

$

9.67

 

 

 

162,989

 

 

$

9.69

 

$12.85 - $12.85

 

 

15,000

 

 

 

2.81

 

 

$

12.85

 

 

 

15,000

 

 

$

12.85

 

$14.61 - $14.61

 

 

20,000

 

 

 

3.18

 

 

$

14.61

 

 

 

18,751

 

 

$

14.61

 

$16.29 - $16.29

 

 

462

 

 

 

2.56

 

 

$

16.29

 

 

 

462

 

 

$

16.29

 

$1.70 - $16.29

 

 

1,649,540

 

 

 

5.27

 

 

$

4.67

 

 

 

592,470

 

 

$

6.76

 

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 2020

 

 

FY 2019

 

Average risk free interest rate

 

 

0.25

%

 

 

1.75

%

Expected life (in years)

 

4.55 years

 

 

4.55 years

 

Dividend yield

 

 

 

 

 

 

Average volatility

 

 

62.4

%

 

 

45.6

%

 

Stock Options Outstanding, Exercisable and Expected to Vest

Information regarding stock options outstanding, exercisable and expected to vest as of January 2, 2021 is summarized below:

 

 

 

Number of

 

 

Weighted Average

 

 

Weighted

Average

Remaining

Contractual

 

 

Aggregate

Intrinsic

Value

 

 

 

Shares

 

 

Exercise Price

 

 

Life (years)

 

 

(thousands)

 

Options outstanding

 

 

1,649,540

 

 

$

4.67

 

 

 

5.27

 

 

$

217

 

Options vested and expected to vest

 

 

1,454,695

 

 

$

4.86

 

 

 

5.17

 

 

$

175

 

Options exercisable

 

 

592,470

 

 

$

6.76

 

 

 

4.10

 

 

$

9

 

 

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, 2021 is summarized below:

 

 

 

Number of

Shares

 

 

Weighted

Average

Remaining

Contractual

Life (years)

 

 

Aggregate

Intrinsic

Value (thousands)

 

Restricted stock units outstanding

 

 

524,851

 

 

 

0.70

 

 

$

1,317

 

Restricted stock units vested and expected to vest

 

 

467,764

 

 

 

0.64

 

 

$

1,174

 

 

Restricted Stock Units and Awards

Information regarding the RSU activity during the years ended January 2, 2021 and December 28, 2019 is summarized below:

 

 

 

Number of

Shares

 

 

Weighted

Average

Grant Date Fair

Value

 

Outstanding as of December 29, 2018

 

 

597,121

 

 

$

9.08

 

Restricted stock units granted

 

 

295,357

 

 

$

2.28

 

Restricted stock units released

 

 

(222,371

)

 

$

4.32

 

Restricted stock units forfeited

 

 

(258,974

)

 

$

8.41

 

Outstanding as of December 28, 2019

 

 

411,133

 

 

$

7.19

 

Restricted stock units granted

 

 

371,877

 

 

$

1.90

 

Restricted stock units released

 

 

(128,624

)

 

$

2.14

 

Restricted stock units forfeited

 

 

(129,535

)

 

$

5.48

 

Outstanding as of January 2, 2021

 

 

524,851

 

 

$

5.10