Stock-Based Compensation (Notes)

9 Months Ended

Sep. 29, 2013

Stock-based compensation expense for the three and nine months ended September 29, 2013 was $0.3 million and $0.9 million, respectively, and for the three and nine months ended September 30, 2012 was $0.3 million and $0.6 million, respectively. As of September 29, 2013, the total unrecognized stock-based compensation expense relating to non-vested shares was approximately $2.9 million, which the Company expects to recognize over a remaining weighted average vesting period for non-vested shares of 2.2 years. The Company expects to record an additional $0.3 million as compensation expense for the remainder of 2013.

On July 15, 2013, the Company granted 19,000 non-vested shares to an officer of the Company. These shares vest and become non-forfeitable 25% per year and are being expensed over their four year vesting period.

A summary of all non-vested shares activity for the nine months ended September 29, 2013 was as follows:



	Shares		Weighted Average Grant Date Price
Nonvested at December 30, 2012	934,628		$	7.84
Granted	31,867		6.20
Vested	(298,196	)	8.49
Forfeited	(16,056	)	10.14
Nonvested at September 29, 2013	652,243		$	7.40

The fair value of the non-vested shares is based on the closing price on the date of grant, a Level 1 input. The weighted average grant date fair value for non-vested shares issued during the three months ended September 29, 2013 was $6.45.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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