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Stock-Based Compensation
 12 Months Ended
Dec. 28, 2019
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
In October 2011, the Company’s stockholders approved the 2011 Equity Incentive Plan, which was subsequently amended and restated in March 2013 (as amended, the “2011 Equity Plan”). The 2011 Equity Plan provides directors, executive officers, and other employees of the Company with additional incentives by allowing them to acquire ownership interest in the business and, as a result, encouraging them to contribute to the Company’s success. The Company may provide these incentives through the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares and units, and other cash-based or stock-based awards. As of December 28, 2019, 1,237,029 shares of common stock are authorized and reserved for issuance under the 2011 Equity Plan. This reserve automatically increases on each January 1 from 2014 through 2023, by an amount equal to the smaller of (i) 3.5% of the number of shares issued and outstanding on the immediately preceding December 31, or (ii) an amount determined by the Company’s Board of Directors. The restricted shares of common stock granted generally provide for service-based vesting after two to four years following the grant date.
The following summarizes the activity of restricted stock awards during fiscal years 2019, 2018 and 2017:
 
Share Units
 
Weighted Average Grant Date Fair Value
Unvested shares as of December 31, 2016
502,773

 
$
19.35

Granted
199,419

 
$
38.72

Vested
(93,805
)
 
$
9.61

Forfeited
(25,336
)
 
$
28.79

Unvested shares as of December 30, 2017
583,051

 
$
27.13

Granted
187,087

 
$
65.15

Vested
(127,870
)
 
$
19.98

Forfeited
(15,357
)
 
$
32.14

Unvested shares as of December 29, 2018
626,911

 
$
39.81

Granted
275,220

 
$
70.90

Vested
(207,039
)
 
$
20.41

Forfeited
(42,415
)
 
$
53.24

Unvested shares as of December 28, 2019
652,677

 
$
58.20


Share-based compensation expense relating to restricted stock awards during fiscal years ended 2019, 2018 and 2017 was $10,430, $6,697 and $4,011, respectively. Approximately $21,264 of deferred compensation, which is expected to be recognized over the remaining weighted average vesting period of 2 years, is unrecognized as of December 28, 2019. The total fair value of restricted shares vested during fiscal years 2019, 2018 and 2017 was $14,680, $7,422 and $3,626, respectively.