Stock-Based Compensation (Notes)

6 Months Ended

Jun. 29, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-based compensation expense in each of the three months ended June 29, 2014 and June 30, 2013 was $0.3 million and in each of the six months ended June 29, 2014 and June 30, 2013 was $0.6 million. As of June 29, 2014, the total unrecognized stock-based compensation expense relating to non-vested shares was approximately $2.2 million, which the Company expects to recognize over a remaining weighted average vesting period for non-vested shares of 2.1 years. The Company expects to record an additional $0.6 million as compensation expense for the remainder of 2014.

On June 12, 2014, the Company granted 14,048 non-vested shares to certain directors of the Company. These shares vest and become non-forfeitable 20% per year and are being expensed over their five year vesting period.

A summary of all non-vested shares activity for the six months ended June 29, 2014 was as follows:



	Shares		Weighted Average Grant Date Price
Non-vested at December 29, 2013	662,923		$	7.35
Granted	14,048		7.12
Vested	(141,374	)	10.50
Forfeited	(2,221	)	10.06
Non-vested at June 29, 2014	533,376		$	6.50

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 June 29, 2014 was $7.12.

- 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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