|
Stockholders' Equity and Share-Based Compensation (Tables)
|
3 Months Ended |
|
Apr. 04, 2015
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Schedule of Changes in Company's Ownership Interest |
The table below presents the changes in the Company's ownership interest in AutoMD on the Company's equity:
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Common stock amount |
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Preferred stock amount |
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Additional
Paid-in-
Capital |
|
Common
Stock
Dividend
Distributable |
|
Accumulated
Other
Comprehensive
Income (Loss) |
|
Accumulated Deficit |
|
Total
Stockholders’
Equity |
|
Noncontrolling Interest |
|
Total |
Balance, January 3, 2015 |
$ |
33 |
|
|
$ |
4 |
|
|
$ |
174,369 |
|
|
$ |
— |
|
|
$ |
360 |
|
|
$ |
(155,489 |
) |
|
$ |
19,277 |
|
|
$ |
2,946 |
|
|
$ |
22,223 |
|
Net loss |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(60 |
) |
|
(60 |
) |
|
(256 |
) |
|
(316 |
) |
Issuance of shares in connection with stock option exercise |
— |
|
|
— |
|
|
13 |
|
|
— |
|
|
— |
|
|
— |
|
|
13 |
|
|
— |
|
|
13 |
|
Statutory tax withholding on RSUs |
1 |
|
|
— |
|
|
(359 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(358 |
) |
|
— |
|
|
(358 |
) |
Statutory tax withholding on options exercised |
— |
|
|
— |
|
|
(80 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(80 |
) |
|
— |
|
|
(80 |
) |
Share-based compensation |
— |
|
|
— |
|
|
549 |
|
|
— |
|
|
— |
|
|
— |
|
|
549 |
|
|
— |
|
|
549 |
|
Issuance of shares related to dividends on preferred stock |
— |
|
|
— |
|
|
60 |
|
|
(60 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Common stock dividend distributable on Series A Preferred Stock |
— |
|
|
— |
|
|
— |
|
|
60 |
|
|
— |
|
|
(60 |
) |
|
— |
|
|
— |
|
|
— |
|
Effect of changes in foreign currencies |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(10 |
) |
|
— |
|
|
(10 |
) |
|
— |
|
|
(10 |
) |
Balance, April 4, 2015 |
$ |
34 |
|
|
$ |
4 |
|
|
$ |
174,552 |
|
|
$ |
— |
|
|
$ |
350 |
|
|
$ |
(155,609 |
) |
|
$ |
19,331 |
|
|
$ |
2,690 |
|
|
$ |
22,021 |
|
|
| Summary of Stock Option Activity |
The following table summarizes the Company’s stock option activity for the thirteen weeks ended April 4, 2015, and details regarding the options outstanding and exercisable at April 4, 2015:
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Shares
(in thousands)
|
|
Weighted
Average
Exercise Price
|
|
Weighted Average
Remaining
Contractual
Term (in years)
|
|
Aggregate
Intrinsic Value (1)
|
Options outstanding, January 3, 2015 |
5,281 |
|
|
$2.85 |
|
|
|
|
Granted |
905 |
|
|
$2.25 |
|
|
|
|
Exercised |
(142 |
) |
|
$1.44 |
|
|
|
|
Expired |
(15 |
) |
|
$3.75 |
|
|
|
|
Forfeited |
(27 |
) |
|
$2.51 |
|
|
|
|
Options outstanding, April 4, 2015 |
6,002 |
|
|
$2.79 |
|
6.54 |
|
$ |
1,499 |
|
Vested and expected to vest at April 4, 2015 |
5,205 |
|
|
$2.90 |
|
6.14 |
|
$ |
1,317 |
|
Options exercisable, April 4, 2015 |
3,590 |
|
|
$3.27 |
|
4.87 |
|
$ |
847 |
|
|
|
(1) |
These amounts represent the difference between the exercise price and the closing price of U.S. Auto Parts Network, Inc. common stock on April 4, 2015 as reported on the NASDAQ Stock Market, for all options outstanding that have an exercise price currently below the closing price.
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| Summary of Restricted Stock Unit Activity |
The following table summarizes the Company’s restricted stock unit ("RSU") activity for the thirteen weeks ended April 4, 2015, and details regarding the awards outstanding and exercisable at April 4, 2015 (in thousands):
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Shares |
|
Weighted
Average
Exercise Price |
|
Weighted Average
Remaining
Contractual
Term (in years) |
|
Aggregate
Intrinsic Value |
Awards outstanding, January 3, 2015 |
880 |
|
|
$ |
— |
|
|
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|
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Awarded |
399 |
|
|
$ |
— |
|
|
|
|
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Vested |
(398 |
) |
|
$ |
— |
|
|
|
|
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Forfeited |
(16 |
) |
|
$ |
— |
|
|
|
|
|
Awards outstanding, April 4, 2015 |
865 |
|
|
$ |
— |
|
|
0.84 |
|
$ |
1,825 |
|
Vested and expected to vest at April 4, 2015 |
785 |
|
|
$ |
— |
|
|
0.83 |
|
$ |
1,657 |
|
|
| 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:
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Thirteen Weeks Ended |
|
April 4, 2015 |
|
March 29, 2014 |
Expected life |
5.3 - 5.4 years |
|
5.3 years |
Risk-free interest rate |
1.3% - 1.4% |
|
1.5% |
Expected volatility |
59.1% - 59.5% |
|
68.3% |
Expected dividend yield |
—% |
|
—% |
|
| Summary of Share-based Compensation from Options, Warrants and Stock Awards |
Share-based compensation from options, warrants and stock awards, is included in our consolidated statements of comprehensive operations, as follows (in thousands):
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Thirteen Weeks Ended |
|
April 4, 2015 |
|
March 29, 2014 |
Marketing expense |
$ |
92 |
|
|
$ |
81 |
|
General and administrative expense |
315 |
|
|
237 |
|
Fulfillment expense |
63 |
|
|
39 |
|
Technology expense |
40 |
|
|
19 |
|
Total share-based compensation expense |
$ |
510 |
|
|
$ |
376 |
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| AutoMD |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Summary of Stock Option Activity |
The following table summarizes the Company’s stock option activity under the AMD Plan for the thirteen weeks ended April 4, 2015, and details regarding the options outstanding and exercisable at April 4, 2015:
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|
Shares
(in thousands)
|
|
Weighted
Average
Exercise Price
|
|
Weighted Average
Remaining
Contractual
Term (in years)
|
|
Aggregate
Intrinsic Value
|
Options outstanding, January 3, 2015 |
180 |
|
|
$1.00 |
|
|
|
|
Granted |
990 |
|
|
$1.00 |
|
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|
|
Exercised |
— |
|
|
— |
|
|
|
|
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Expired |
— |
|
|
— |
|
|
|
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Forfeited |
— |
|
|
— |
|
|
|
|
|
Options outstanding, April 4, 2015 |
1,170 |
|
|
$1.00 |
|
9.80 |
|
$ |
— |
|
Vested and expected to vest at April 4, 2015 |
870 |
|
|
$1.00 |
|
9.81 |
|
$ |
— |
|
Options exercisable, April 4, 2015 |
— |
|
|
— |
|
|
0.00 |
|
$ |
— |
|
|