Stock-Based Compensation (Notes)

6 Months Ended

Jun. 28, 2015

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

Stock-based compensation expense in the three months ended June 28, 2015 and June 29, 2014 was $0.4 million and $0.3 million, respectively and for the six months ended June 28, 2015 and June 29, 2014 was $0.7 million and $0.6 million, respectively. As of June 28, 2015, the total unrecognized stock-based compensation expense relating to non-vested shares was approximately $3.2 million, which the Company expects to recognize over a remaining weighted average vesting period for non-vested shares of 2.5 years. The Company expects to record an additional $0.7 million as compensation expense for the remainder of 2015.

On June 11, 2015, the Company granted 9,636 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 28, 2015 was as follows:



	Shares		Weighted Average Grant Date Price
Non-vested at December 28, 2014	395,427		$	6.68
Granted	295,741		7.89
Vested	(76,893	)	9.60
Forfeited	(9,748	)	6.21
Nonvested at June 28, 2015	604,527		$	7.07

The fair value of the non-vested shares is based on the closing price on the date of grant. The weighted average grant date fair value for non-vested shares issued during the three months ended June 28, 2015 was $10.38.