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Stockholders' Equity (Tables)
 12 Months Ended
Dec. 27, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Option Valuation Assumptions
Awards with graded vesting are recognized using the straight-line method with the following assumptions:

 
 
2013
 
2014
 
2015
Stock Options
 
 
 
 
 
 
Expected life
 
6.25 - 10.0
 
10.0
 
10.0
Risk-free interest rate(1)
 
1.1% - 2.9%
 
2.4% - 2.7%
 
2.1% - 2.3%
Volatility(2)
 
56.8% - 61.2%
 
54.5% - 56.1%
 
54.4% - 54.7%
Forfeiture rate(3)
 
10.0%
 
2.5% - 15.2%
 
5.0%
Dividend yield(4)
 
—%
 
—%
 
—%


(1) The risk-free interest rate is based on U.S. Treasury yields in effect at the time of grant with a term equal to the expected term of the options.
(2) In 2013, 2014, and 2015, the Company estimated implied volatility based upon trailing volatility.
(3) Forfeitures are estimated at the time of grant based upon historical information. Forfeitures will be revised, if necessary, in subsequent periods if actual forfeitures differ from estimates.
(4) The Company has no history or expectation of paying dividends on its common stock.
Stock Options Roll Forward
A summary of the status of the Company’s stock option plan as of December 27, 2015 and changes in options outstanding under the plan for the year ended December 27, 2015 is as follows:

 
 
Number of
Shares Under Option
 
Weighted-Average Exercise Price per Share
 
Weighted-
Average
Remaining
Contractual
Term
(in years)
 
Aggregate Intrinsic Value
 
 
(000’s)
 
 
 
 
 
(000’s)
Options outstanding at December 28, 2014
 
1,498

 
$
11.06

 
5.6
 
$
108.37

Granted
 
12

 
$
5.06

 
0
 
—

Exercised
 
—

 
$
—

 
0
 
—

Forfeited or expired
 
(433
)
 
$
17.12

 
0
 
—

Options outstanding at December 27, 2015
 
1,077

 
$
9.14

 
5.5
 
—

Options exercisable at December 27, 2015
 
422

 
$
15.50

 
3.1
 
$
—
Grants and Exercises Under the Company's Option Plans
During the years ended December 29, 2013, December 28, 2014, and December 27, 2015 the following values relate to the grants and exercises under the Company’s option plans:

 
 
2013
 
2014
 
2015
Weighted average grant date fair value of options granted
 
$
2.86

 
$
4.40

 
$
3.31

Total intrinsic value of options exercised (in thousands)
 
$
—

 
$
171.0

 
$
—
Restricted Stock Units Activity
The following table summarizes the Company’s Restricted Stock Unit activity:

 
 
Restricted
Stock Units
(000’s)
 
Weighted-Average Grant Date Fair Value
Nonvested balance at December 28, 2014
 
2,208

 
$
8.03

Grants
 
820

 
$
5.40

Vested
 
(520
)
 
$
7.01

Forfeitures
 
(89
)
 
$
7.45

Vested but not released
 
(10
)
 
$
8.30

Nonvested balance at December 27, 2015
 
2,409

 
$
7.37
Assumptions and Resulting Fair Values of Options Granted
The assumptions and resulting fair values of options granted for 2013, 2014 and 2015 were as follows:

 
Offering
Periods
January 1 to
December 31,
2013
 
Offering
Periods
January 1 to
December 31,
2014
 
Offering
Periods
January 1 to
December 31
2015
Expected term (in years)(1)
0.5
 
0.5
 
0.5
Risk-free interest rate(2)
0.10% - 0.11%
 
0.07% - 0.10%
 
0.11% - 0.12%
Expected volatility(3)
36.95% - 43.70%
 
40.14% - 40.23%
 
39.63% - 40.91%
Expected dividend yield(4)
0%
 
0%
 
0%
Weighted average grant-date fair value per share
$1.50
 
$2.09
 
$1.43

(1)
The expected term is equivalent to the offering period.
(2)
The risk-free interest rate is based on U.S. Treasury yields in effect at the time of grant with a term equal to the expected term.
(3)    The Company estimated implied volatility based upon trailing volatility.
(4)    The Company has no history or expectation of paying dividends on its common stock.