Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity and Share-Based Compensation

v3.19.1
Stockholders' Equity and Share-Based Compensation
3 Months Ended
Mar. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stockholders' Equity and Share-Based Compensation

Note 3 – Stockholders’ Equity and Share-Based Compensation

Options and Restricted Stock Units

The Company had the following common stock option activity during the thirteen weeks ended March 30, 2019:

·

Granted options to purchase 3,290 common shares.

·

Exercise of 0 options to purchase common shares.

·

Forfeiture of 1,250 option to purchase common shares.

·

Expiration of 711 options to purchase common shares.

The following table summarizes the Company’s restricted stock unit ("RSU") activity for the thirteen weeks ended March 30, 2019, and details regarding the awards outstanding and exercisable at March 30, 2019 (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

Weighted

 

Remaining

 

 

 

 

 

 

 

Average

 

Contractual

 

Aggregate

 

    

Shares

    

Exercise Price

    

Term (in years)

    

Intrinsic Value

Vested and expected to vest at December 29, 2018

 

1,454

 

$

 

 

 

 

 

Awarded

 

 —

 

$

 

 

 

 

 

Vested

 

(803)

 

$

 

 

 

 

 

Forfeited

 

(398)

 

$

 

 

 

 

 

Awards outstanding, March 30, 2019

 

253

 

$

 

0.51

 

$

256

Vested and expected to vest at March 30, 2019

 

253

 

$

 

0.51

 

$

256

 

During the thirteen weeks ended March 30, 2019,  191 RSUs that vested were time-based and 44 were performance-based. For the RSUs awarded, the number of shares issued on the date of vest is net of the minimum statutory withholding requirements that we pay in cash to the appropriate taxing authorities on behalf of our employees. For those employees who elect not to receive shares net of the minimum statutory withholding requirements, the appropriate taxes are paid directly by the employee. During the thirteen weeks ended March 30, 2019, we withheld 284 shares to satisfy $287 of employees’ tax obligations. Although shares withheld are not issued, they are treated as a common stock repurchase in our consolidated financial statements, as they reduce the number of shares that would have been issued upon vesting.

For the thirteen weeks ended March 30, 2019, we recorded compensation costs related to stock options and RSUs of $554. For the thirteen weeks ended March 31, 2018 we recorded compensation costs related to stock options and RSUs of $1,003.  March 30, 2019, there was unrecognized compensation expense related to stock options and RSUs of $2,680.