Stock Plans (Tables)

12 Months Ended

Jan. 02, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of each of these option awards is estimated on the date of grant using the Black-Scholes option pricing model with the weighted average assumptions noted in the following table. Expected volatility is based on the historical volatility of the Company’s common stock. Since the Company’s option exercise history is limited, it has estimated the expected term of these options (other than the options with a seven-year term) to be the midpoint between the vesting period and the contractual term of each option. For options with a seven-year contractual term, the expected term is equal to 7 years. The risk-free interest rate is based on the U.S. Treasury yield curve in effect on the date of grant which most closely corresponds to the expected term of the Time-Vesting Options. The dividend yield is based on the Company’s historic average dividend yield.

	January 2,
	2021
Dividend yield	0.0%
Volatility	56.5% - 56.7%
Risk-free interest rate	0.45% - 0.52%
Expected term (years)	5.9 - 6.5

Summary of Option Activity

A summary of all option activity under the Stock Plans and the Winfrey Amendment Option for the fiscal year ended January 2, 2021 is presented below:

						Weighted-
				Weighted-		Average
				Average		Remaining		Aggregate
				Exercise		Contractual		Intrinsic
	Shares			Price		Life (Yrs.)		Value
Outstanding at December 28, 2019		3,700		$	21.77
Granted		3,874		$	35.96
Exercised		(1,162	)	$	6.95
Cancelled		(52	)	$	25.51
Outstanding at January 2, 2021		6,360		$	33.09		4.9	$	22,386
Exercisable at January 2, 2021		5,481		$	33.63		4.6	$	20,016

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

A summary of RSU activity under the Stock Plans for the fiscal year ended January 2, 2021 is presented below:

				Weighted-Average
				Grant-Date Fair
	Shares			Value
Outstanding at December 28, 2019		1,153		$	27.46
Granted		1,223		$	19.40
Vested		(495	)	$	30.39
Forfeited		(182	)	$	22.61
Outstanding at January 2, 2021		1,699		$	21.32

Schedule of Share-based Compensation, Performance Stock Units Award Activity

The fair value of PSUs is determined using the closing market price of the Company’s common stock on the date of grant. A summary of PSU activity under the 2014 Plan for the fiscal year ended January 2, 2021 is presented below:

				Weighted-Average
				Grant-Date Fair
	Shares			Value
Outstanding at December 28, 2019		437		$	30.35
Granted (a)		49		$	28.09
Vested		(123	)	$	28.09
Forfeited		(68	)	$	26.05
Outstanding at January 2, 2021		295		$	31.46

(a) Represents incremental shares vested with respect to the Company satisfying certain applicable performance vesting criteria for the 2017 PSUs.