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SHARE-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 28, 2013
SHARE-BASED COMPENSATION  
Schedule of valuation assumptions used to estimate fair value of stock options granted using the Binomial lattice pricing model

 

 

Nine Months Ended

Valuation Assumptions:

 

September 28, 2013 

 

September 29, 2012 

Weighted-average fair value of options granted

 

$10.32

 

$5.99

Expected volatility

 

59.5%

 

63.3%

Weighted-average volatility

 

59.5%

 

63.3%

Expected term (in years)

 

4.9

 

5.1

Dividend yield

 

 

Risk-free rate

 

0.1% to 3.9%

 

0.2% to 3.8%

Expected annual forfeiture

 

12.4%

 

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

 

322,500

 

20.99

 

 

 

 

 

Exercised

 

(305,800

)

7.61

 

 

 

4,168

 

Cancelled/expired

 

(210,550

)

20.15

 

 

 

 

 

Outstanding at September 28, 2013

 

5,653,125

 

$

 12.67

 

3.5

 

$

 82,364

 

 

 

 

 

 

 

 

 

 

 

Vested or expected to vest at September 28, 2013

 

5,446,505

 

$

 12.67

 

3.4

 

$

 79,721

 

 

 

 

 

 

 

 

 

 

 

Exercisable at September 28, 2013

 

4,270,625

 

$

 13.24

 

2.8

 

$

 62,506

 

Summary of award activity under Company's restricted stock plans

 

 

 

 

Shares

 

Weighted
Average Grant
Date Fair Value

Nonvested stock at December 29, 2012 (a)

 

1,678,350

 

 

$

8.40

 

Granted

 

350,000

 

 

21.38

 

Vested

 

(260,600

)

 

5.68

 

Cancelled (b)

 

(677,500

)

 

6.45

 

Nonvested stock at September 28, 2013 (a)

 

1,090,250

 

 

$

14.43

 

 

 

 

 

 

 

 

Expected to vest as of September 28, 2013

 

501,135

 

 

$

16.43

 

 

 

(a)

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.

(b)

Includes performance shares granted to a group of key executives with certain performance conditions measured through July 2013. Based on the performance criteria, these shares were deemed unearned and cancelled.