Stock-Based Compensation (Notes)

6 Months Ended

Jun. 28, 2020

Share-based Payment Arrangement [Abstract]

Stock-based compensation expense for the three months ended June 28, 2020 and June 30, 2019 was $1.1 million and $1.3 million, respectively and for the six months ended June 28, 2020 and June 30, 2019 was $2.2 million and $2.8 million, respectively. During the six months ended June 28, 2020, the Company granted 790,000 non-vested restricted shares to certain employees and officers of the Company and 73,128 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 six months ended June 28, 2020 was as follows:



	Shares		Weighted Average Grant Date Price
Non-vested at December 29, 2019	790,823		$	11.35
Granted	863,128		$	5.42
Vested	(416,253	)	$	12.07
Non-vested at June 28, 2020	1,237,698		$	6.97

The fair value of non-vested shares is based on the closing price on the date of grant. As of June 28, 2020, the total non-vested unrecognized stock-based compensation expense was approximately $6.9 million and the remaining weighted average vesting period for non-vested shares was 2.2 years. The Company expects to record an additional $2.1 million in stock-based compensation expense related to the vesting of these awards for the remainder of 2020.

The Company has issued restricted stock units (“RSUs”) on shares of the Company's common shares to certain eligible employees. During the six months ended June 28, 2020, 20,486 RSUs vested into shares of the Company's common stock at a weighted average price of $2.92 per share.

A summary of all RSU activity for the six months ended June 28, 2020 was as follows:



	Units
Non-vested at December 29, 2019	57,942
Vested	(20,486	)
Non-vested at June 28, 2020	37,456