CarParts.com, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity and Share-Based Compensation (Tables)

Stockholders' Equity and Share-Based Compensation (Tables)

3 Months Ended

Mar. 29, 2014

Summary of Assumptions Used for Fair Value of Options

The fair value of the surrendered stock options and the new stock options was estimated on the date of the exchange using the Black-Scholes option pricing model with the following assumptions:


	Surrendered Stock Options		New Stock Options
Expected life		1.93 – 6.87 years		5.84 years
Risk-free interest rate		0.5% – 2.4%		2.0%
Expected volatility		55% – 73%		72%
Expected dividend yield		0%		0%

Summary of Share-based Compensation from Options, Warrants, RSUs and Stock Awards

Share-based compensation from options, warrants, RSUs and stock awards, is included in our consolidated statements of comprehensive operations, as follows:


	Thirteen Weeks Ended
	March 29, 2014		March 30, 2013
Marketing expense	$	81	$	84
General and administrative expense		237		282
Fulfillment expense		39		31
Technology expense		19		12

Total share-based compensation expense	$	376	$	409

Surrendered Stock Options and New Stock Options [Member]

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity for the thirteen weeks ended March 29, 2014, and details regarding the options outstanding and exercisable at March 29, 2014:


	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (1)
Options outstanding, December 28, 2013		5,320		$	2.97
Options granted		650		$	2.03
Exercised		(35	)	$	2.12
Expired		(17	)	$	3.89
Forfeited		(94	)	$	1.74

Options outstanding, March 29, 2014		5,823		$	2.88		6.83	$	4,792
Vested and expected to vest at March 29, 2014		4,890		$	3.10		6.30	$	3,648
Options exercisable, March 29, 2014		3,157		$	3.77		4.59	$	1,552

(1)	These amounts represent the difference between the exercise price and the closing price of U.S. Auto Parts Network, Inc. stock on March 29, 2014 as reported on the NASDAQ National Market, for all options outstanding that have an exercise price currently below the closing price.

Summary of Assumptions Used for Fair Value of Options

The fair value of each option grant was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions for each of the periods ended:


	Thirteen Weeks Ended
	March 29, 2014		March 30, 2013
Expected life		5.3		5.73 years
Risk-free interest rate		1.53		1.0%
Expected volatility		68.3%		72%
Expected dividend yield		0%		0%