Subsequent Events

12 Months Ended

Dec. 27, 2014

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTS

On January 23, 2015, the Company entered into a ten-year $6,290 note payable to finance an owned facility in Saraland, Alabama. The note payable is scheduled to mature on January 7, 2025 and is secured by the facility. The note payable bears interest at a variable rate equal to one month LIBOR plus 2.0% and is payable in equal monthly installments of principal of $26, plus interest calculated on the declining balance of the note, with a final payment of $3,145 due on maturity. In addition, the Company entered into a forward interest rate swap with an amortizing $5,661 notional amount effective January 7, 2017 which effectively fixes the interest rate at 4.30%.

On March 12, 2015, the Company granted 114,625 shares of restricted stock to officers and other key employees of the Company. The shares will vest over periods ranging from 1 to 29 years from the date of the awards were granted. Each award is subject to a continued service condition. In addition, the Compensation Committee has approved a grant of 100,000 shares of restricted stock to the Company's Chief Executive Officer, subject to shareholder approval. The shares would vest in 4 years from the date of the award was granted and would be subject to both a performance and continued service condition.