Stock-Based Compensation (Notes)

3 Months Ended

Apr. 01, 2018

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

Stock-based compensation expense for three months ended April 1, 2018 and April 2, 2017 was $1.6 million and $0.9 million, respectively. On January 15, 2018, the Company granted 350,000 non-vested restricted shares to officers of the Company and 30,192 non-vested restricted shares to outside directors of the Company. These shares vest, become non-forfeitable and are being expensed over their three-year vesting period.

A summary of all non-vested shares activity for the three months ended April 1, 2018 was as follows:



	Shares		Weighted Average Grant Date Price
Non-vested at December 31, 2017	722,459		$	12.76
Granted	380,192		13.25
Vested	(283,248	)	12.52
Non-vested at April 1, 2018	819,403		$	13.07

The fair value of non-vested shares is based on the closing price on the date of grant. As of April 1, 2018, the total non-vested unrecognized stock-based compensation expense was approximately $9.7 million and the remaining weighted average vesting period for non-vested shares was 2.2 years. The Company expects to record an additional $3.6 million in stock-based compensation expense related to the vesting of these awards for the remainder of 2018.