Note 8 - Shareholders' Equity

3 Months Ended

Apr. 02, 2017

Notes to Financial Statements

Shareholders' Equity and Share-based Payments [Text Block]

8. SHAREHOLDERS’ EQUITY

We recorded non-cash stock compensation expense in each period as follows:

	Three month periods ended
	April 2, 2017		March 27, 2016
Stock options	$	36	$	170
Restricted stock		4		11
Total	$	40	$	181

Stock Options

We have stock options outstanding from various stock-based employee compensation plans for which we record compensation cost relating to share-based payment transactions in our financial statements. As of

April

2,

2017,

there was

$307

of total unrecognized compensation cost related to outstanding stock options, which is expected to be recognized over a weighted average period of

1.32

years. The following table summarizes stock option activity for the

first

quarter of

2017:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding at January 1, 2017		2,323,581		$	6.22
Granted		65,000		$	5.31
Exercised		(180,334	)	$	4.11
Forfeited or expired		(113,166	)	$	11.55
Outstanding at April 2, 2017		2,095,081		$	6.08		3.11	$	1,502
Vested and expected to vest at April 2, 2017		1,984,765		$	6.15		3.00	$	1,403
Exercisable at April 2, 2017		1,265,548		$	5.07		2.08	$	1,035

FASB’s guidance for share-based payments requires cash flows from excess tax benefits to be classified as a part of cash flows from financing activities. Excess tax benefits are realized tax benefits from tax deductions for exercised stock options in excess of the deferred tax asset attributable to stock compensation costs for such stock options. We did

not

record any excess tax benefits in the

first

three

months of

2017

or

2016.

Cash received from stock option exercises under our stock-based compensation plans for the

three

-month periods ended

April

2,

2017

and

March

 

27,

2016

was

$741

and

$14,

respectively.

Restricted Stock Awards

In

September

2014,

49,200

shares of restricted stock were awarded to certain of our employees. These units vest over

three

years and we estimated their weighted average grant date fair value to be

$3.24

per share. There is

$7

of unrecognized compensation cost related to these restricted shares at

April

2,

2017.