Stock-Based Compensation (Notes)

3 Months Ended

Apr. 02, 2017

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

Stock-based compensation expense for three months ended April 2, 2017 and April 3, 2016 was $0.9 million and $0.6 million, respectively. On January 15, 2017, the Company granted 340,000 non-vested restricted shares to officers of the Company and 26,580 non-vested restricted shares to outside directors of the Company. These shares vest and become non-forfeitable 33% per year and are being expensed over their three-year vesting period.

A summary of all non-vested shares activity for the three months ended April 2, 2017 was as follows:



	Shares		Weighted Average Grant Date Price
Non-vested at January 1, 2017	577,221		$	10.42
Granted	366,580		15.05
Vested	(150,684	)	10.34
Non-vested at April 2, 2017	793,117		$	12.58

The fair value of non-vested shares is based on the closing price on the date of grant. As of April 2, 2017, the total non-vested stock-based compensation expense was approximately $9.2 million and the remaining weighted average vesting period for non-vested shares was 2.6 years. The Company expects to record an additional $2.7 million in stock-based compensation expense related to the vesting of these awards for the remainder of 2017.

- 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