Stock-Based Compensation (Notes)

3 Months Ended

Apr. 03, 2016

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

Stock-based compensation expense was $0.6 million and $0.3 million in the three months ended April 3, 2016 and March 29, 2015, respectively. On January 15, 2016, the Company granted 319,000 non-vested shares to officers 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 three months ended April 3, 2016 was as follows:



	Shares		Weighted Average Grant Date Price
Non-vested at January 3, 2016	468,770		$	7.40
Granted	319,000		12.28
Vested	(73,434	)	8.25
Non-vested at April 3, 2016	714,336		$	9.49

The fair value of non-vested shares is based on the closing price on the date of grant. As of April 3, 2016, the total unrecognized stock-based compensation expense was approximately $5.8 million, which the Company expects to recognize over a remaining weighted average vesting period for non-vested shares of 2.8 years. The Company expects to record an additional $1.5 million as compensation expense for the remainder of 2016.

- 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.

+ References + Details