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Stock-Based Compensation Arrangements (Tables)
 3 Months Ended
Apr. 03, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable [Table Text Block]
A summary of the option activity under the equity incentive plan as of April 3, 2016 and the activity for the three months ended April 3, 2016 is presented below:
 
Stock Options
Weighted Average Exercise Price (1)
Weighted Average Remaining Contractual Term
Aggregate Intrinsic Value
 
 
($ per share)
 
($ in thousands)
Outstanding stock options, January 3, 2016
2,393,084

$8.59


     Options Granted
101,110

$12.51


     Options Exercised
(13,399
)
$8.86


     Options Forfeited
(11,185
)
$10.91


Outstanding stock options, April 3, 2016
2,469,610

$8.78
8.14
10,141

Stock options expected to vest, April 3, 2016
2,222,650

$8.78
8.14
9,127

Exercisable stock options, April 3, 2016
327,726

$8.32
7.92
2,861

 
 
 
 
 
__________________
(1)    The weighted average exercise price reflects the original grant date fair value per option as adjusted for the dividend payment made in August 2015.
Schedule of Stock-Based Compensation Expense and Associated Tax Benefits Recognized
9. Stock-Based Compensation Arrangements:
A summary of the option activity under the equity incentive plan as of April 3, 2016 and the activity for the three months ended April 3, 2016 is presented below:
 
Stock Options
Weighted Average Exercise Price (1)
Weighted Average Remaining Contractual Term
Aggregate Intrinsic Value
 
 
($ per share)
 
($ in thousands)
Outstanding stock options, January 3, 2016
2,393,084

$8.59


     Options Granted
101,110

$12.51


     Options Exercised
(13,399
)
$8.86


     Options Forfeited
(11,185
)
$10.91


Outstanding stock options, April 3, 2016
2,469,610

$8.78
8.14
10,141

Stock options expected to vest, April 3, 2016
2,222,650

$8.78
8.14
9,127

Exercisable stock options, April 3, 2016
327,726

$8.32
7.92
2,861

 
 
 
 
 
__________________
(1)    The weighted average exercise price reflects the original grant date fair value per option as adjusted for the dividend payment made in August 2015.
As of April 3, 2016, we had $2.9 million of total unrecognized share-based compensation expense related to unvested options, net of expected forfeitures, which is expected to be amortized over the remaining weighted-average period of 3.2 years.
The following table summarizes stock-based compensation expense and the associated tax benefit recognized in the Consolidated Financial Statements for the periods presented:
 
Three Months Ended
 
April 3,
2016
 
March 29,
2015
 
(in thousands)
Stock-based compensation costs
$
168

 
$
395

Portion capitalized as property and equipment (1)
(33
)
 
(4
)
Stock-based compensation expense recognized
$
135

 
$
391

Excess tax benefit recognized from exercise of stock-based compensation awards
$
4

 
$
—

 __________________
(1)
We capitalize the portion of stock-based compensation costs related to our design, construction, facilities and legal departments that are directly attributable to our store development projects, such as the design and construction of a new store and the remodeling and expansion of our existing stores. Capitalized stock-based compensation cost attributable to our store development projects is included in “Property and equipment, net” in the Consolidated Balance Sheets.