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SHARE-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 30, 2013
SHARE-BASED COMPENSATION  
Schedule of valuation assumptions used to estimate fair value of stock options granted using the Binomial lattice pricing model

 

 

 

Three Months Ended

Valuation Assumptions:

 

March 31, 2012

Weighted-average fair value of options granted

 

$5.84

Expected volatility

 

63.3%

Weighted-average volatility

 

63.3%

Expected term (in years)

 

5.1

Dividend yield

 

Risk-free rate

 

0.2% to 3.8%

Expected annual forfeiture

 

13.5%

Summary of award activity under Company's stock option plans

 

 

 

Shares

 

Weighted
Average Exercise
Price

 

Weighted Average
Remaining
Contractual Term

 

Aggregate
Intrinsic Value
(In thousands)

 

Outstanding at December 29, 2012

 

5,846,975

 

$

12.21

 

4.0

 

$

27,218

 

Granted

 

20,000

 

17.85

 

 

 

 

 

Exercised

 

(89,375

)

4.42

 

 

 

1,203

 

Cancelled/expired

 

(137,425

)

23.46

 

 

 

 

 

Outstanding at March 30, 2013

 

5,640,175

 

$

12.08

 

3.8

 

$

55,364

 

 

 

 

 

 

 

 

 

 

 

Vested or expected to vest at March 30, 2013

 

5,436,420

 

$

12.22

 

3.7

 

$

53,220

 

 

 

 

 

 

 

 

 

 

 

Exercisable at March 30, 2013

 

3,945,175

 

$

14.26

 

3.2

 

$

35,225

 

Summary of award activity under Company's restricted stock plans

 

 

 

Shares

 

Weighted
Average Grant
Date Fair Value

 

Nonvested stock at December 29, 2012 (a) (b)

 

1,678,350

 

 

   $

8.40

 

Granted

 

35,000

 

 

16.33

 

Vested

 

(139,500

)

 

5.87

 

Cancelled

 

(84,500

)

 

7.51

 

Nonvested stock at March 30, 2013 (a) (b) 

 

1,489,350

 

 

   $

8.88

 

 

 

 

 

 

 

 

Expected to vest as of March 30, 2013

 

334,860

 

 

   $

8.12

 

___________________

 

(a)       Includes performance shares granted to a group of key executives with certain performance conditions measured through July 2013.

(b)       Includes performance shares granted to a group of key executives with certain performance conditions measured through December 2013 and a market and service condition through December 2014.