Stock-Based Compensation

3 Months Ended

Apr. 02, 2016

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

Stock-Based Compensation

Stock-Based Compensation

Total stock-based compensation expense recognized in selling, general and administrative expenses in the Company’s statements of operations was $0.6 million and $0.1 million for the three months ended April 2, 2016, and March 28, 2015, respectively.

As of April 2, 2016, 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 2.5 years.

Stock Options

A summary of the Company’s outstanding stock options as of and for the three months ended April 2, 2016, is as follows:

	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (In Years)	Aggregate Intrinsic Value (in thousands)
Outstanding at January 2, 2016	1,522,000		$	4.32	3.0	$	—
Granted	—		—
Exercised	—		—			$	—
Forfeited/expired	(11,000	)	2.21
Outstanding at April 2, 2016	1,511,000		$	4.34	2.7	$	—
Exercisable at April 2, 2016	802,250		$	6.09	0.7	$	—

RSUs

A summary of the Company’s non-vested restricted share units ("RSUs") as of and for the three months ended April 2, 2016, is as follows:

	RSUs		Weighted Average Grant Date Fair Value
Unvested at January 2, 2016	840,694		$	2.30
Granted	—		—
Vested	(10,000	)	2.38
Forfeited	—		—
Unvested at April 2, 2016	830,694		$	2.30

The total fair value of RSUs which vested during the three months ended April 2, 2016, was less than $0.1 million.

PSUs

A summary of the Company's non-vested performance share units ("PSUs") as of and for the three months ended April 2, 2016 is as follows:

	PSUs	Weighted Average Grant Date Fair Value
Unvested at January 2, 2016	565,000	$	2.38
Granted	—	—
Vested	—	—
Forfeited	—	—
Unvested at April 2, 2016	565,000	$	2.38