Stock-Based Compensation

2016 Stock Incentive Plan. In 2016, the Company adopted a stock plan entitled the 2016 Stock Incentive Plan (the “2016 Plan”) and reserved and authorized a total of 4,000,000 shares of common stock for grant thereunder. As of December 29, 2019, 2,788,391 shares were available for future grant or issuance.

On January 15, 2019, the Company granted 417,500 non-vested restricted shares of common stock to certain employees and officers of the Company and 47,470 non-vested restricted shares to outside directors of the Company. These shares vest over their three-year vesting period, provided the participant has continuously remained an employee, officer, or director of the Company. In addition, On September 16, 2019, the Company granted 10,000 non-vested restricted shares of common stock to the Interim Vice President-Chief Financial Officer and Treasurer, which vest upon the later of the first anniversary of the start date or the date on which the Company has completed the transition period to a new Chief Financial Officer.

On January 15, 2018, the Company granted 350,000 non-vested restricted shares of common stock to officers of the Company. These shares vest over their three-year vesting period. In addition, during 2018 the Company issued an aggregate of 30,192 non-vested restricted shares of common stock to non-employee directors. The non-vested stock awards vest over three years, provided that the participant has continuously remained a director of the Company.

On January 15, 2017, the Company granted 340,000 non-vested restricted shares of common stock to officers of the Company. These shares vest over their three-year vesting period. In addition, during 2017 the Company issued an aggregate of 26,580 non-vested restricted shares of common stock to non-employee directors. The non-vested stock awards vest over three years, provided that the participant has continuously remained a director of the Company.

Stock-based compensation expense for the years ended December 29, 2019, December 30, 2018, and December 31, 2017 was $5.8 million, $5.8 million and $3.5 million, respectively.

A summary of all non-vested share activity for the year ended December 29, 2019 was as follows:



	Shares		Weighted Average Grant Date Price
Non-vested at December 30, 2018	796,476		$	13.12
Granted	474,970		$	9.47
Vested	(473,123	)	$	12.48
Forfeited	(7,500	)	$	9.48
Non-vested at December 29, 2019	790,823		$	11.35

The fair value of the non-vested shares is based on the closing price of the Company's common stock on the date of grant. As of December 29, 2019, total non-vested stock-based compensation expense was approximately $4.6 million and the remaining weighted average vesting period for non-vested shares was 1.4 years.

During the twelve months ended December 29, 2019, the Company granted restricted stock units (“RSUs”) for 67,452 shares of the Company's common shares to eligible employees. The RSUs generally vest in equal installments over three years. During the twelve months ended December 29, 2019, 19,012 RSUs vested at a weighted average price of $8.59 per share into shares of the Company's common stock.

A summary of all RSU activity for the year ended December 29, 2019 was as follows:



	Units
Non-vested at December 30, 2018	9,502
Granted	67,452
Vested	(19,012	)
Non-vested at December 29, 2019	57,942