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Employee Share-Based Compensation (Tables)
3 Months Ended
Mar. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Weighted average assumptions of stock options granted

The table below outlines the weighted average assumptions for options granted to employees during the three months ended March 30, 2013.

 

Three Months Ended March 30, 2013      
Volatility     32.64 %
Expected dividends     0.00 %
Expected term   6.1 years  
Risk-free rate     1.13 %
Service Period Based Stock Options

The following table summarizes service period based stock options activity at March 30, 2013 and changes during the three months then ended:

          Weighted Average        
                Remaining     Aggregate  
    Number of     Exercise     Contractual     Intrinsic  
    Shares     Price     Term     Value  
Outstanding at December 29, 2012     12,202,558     $ 1.08              
                             
Options Granted     230,000       0.63              
Options Exercised     (13,538 )     0.50              
Options Expired     (75,000 )     0.50              
Options Forfeited     (112,530 )     1.37              
Outstanding at March 30, 2013     12,231,490     $ 1.08       8.09     $ 217,915  
                                 
Exercisable at March 30, 2013     5,096,949     $ 1.26       6.41     $ 113,085  

 

Performance Based Stock Options

The following table summarizes performance based stock options activity at March 30, 2013 and changes during the three months then ended:

          Weighted Average        
                Remaining     Aggregate  
    Number of     Exercise     Contractual     Intrinsic  
    Shares     Price     Term     Value  
Outstanding at December 29, 2012     145,834     $ 1.59              
                             
Options Granted     200,000       0.63              
Options Exercised     -       -              
Options Expired     -       -              
Options Forfeited     (45,834 )     1.59              
Outstanding at March 30, 2013     300,000     $ 0.95       9.25     $ 16,000  
                                 
Exercisable at March 30, 2013     45,834     $ 1.59       8.10     $ -  

 

Restricted stock awards granted to employees

The following table summarizes activity of restricted stock awards granted to employees at March 30, 2013 and changes during the three months then ended:

          Weighted Average  
          Award-Date  
    Shares     Fair Value  
Unvested shares at December 29, 2012     500,000     $ 0.69  
                 
Granted     -       -  
Vested     -       -  
Forfeited     -       -  
Unvested shares at March 30, 2013     500,000     $ 0.69  
                 
Expected to Vest as of March 30, 2013     500,000     $ 0.69