Stock-Based Compensation

3 Months Ended

Mar. 29, 2014

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

Stock-Based Compensation

Stock-Based Compensation

The Company did not issue any form of stock-based compensation in the first quarter of 2014. Total stock-based compensation expense recognized in selling, general and administrative expenses in the Company’s statements of operations was $0.8 million for the three months ended March 29, 2014, and $1.0 million for the three months ended March 30, 2013, respectively.

As of March 29, 2014, there was approximately $2.0 million of total unrecognized compensation cost related to unvested stock-based compensation grants, which is expected to be amortized over a weighted average period of 1.6 years.

Stock Options

A summary of the Company’s outstanding stock options as of and for the three months ended March 29, 2014, is as follows:

	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (In Years)	Aggregate Intrinsic Value (in thousands)
Outstanding at December 28, 2013	1,778,000		$	5.23	2.4	$	259
Granted	—		—
Exercised	—		—			$	—
Forfeited/expired	(39,375	)	5.86
Outstanding at March 29, 2014	1,738,625		$	5.21	2.2	$	176
Exercisable at March 29, 2014	1,367,875		$	5.45	1.8	$	—

RSUs

A summary of the Company’s non-vested restricted share units ("RSUs") as of and for the three months ended March 29, 2014, is as follows:

	RSUs		Weighted Average Grant Date Fair Value
Non-vested at December 28, 2013	980,750		$	3.91
Granted	—		—
Vested	(159,375	)	5.62
Forfeited	(625	)	5.62
Non-vested at March 29, 2014	820,750		$	3.57

The total fair value of RSUs which vested during the three months ended March 29, 2014, was $0.5 million.