Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity and Share-Based Compensation (Tables)

v3.19.1
Stockholders' Equity and Share-Based Compensation (Tables)
 12 Months Ended
Dec. 29, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity

The following tables summarizes the Company’s stock option activity for the fiscal years ended, and details regarding the options outstanding and exercisable at December 30, 2018, and December 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

 

 

    

Weighted

    

 

 

 

 

 

 

Weighted

 

Average

 

 

 

 

 

 

 

Average

 

Remaining

 

Aggregate 

 

 

 

 

Exercise

 

Contractual

 

Intrinsic

 

    

Shares

    

Price

    

Term (in years)

    

Value(1)

Options outstanding, December 30, 2017

 

5,933

 

$

2.91

 

  

 

 

  

Granted

 

1,174

 

$

2.02

 

  

 

 

  

Exercised

 

(6)

 

$

0.99

 

  

 

 

  

Cancelled:

 

  

 

 

  

 

  

 

 

  

Forfeited

 

(188)

 

$

3.10

 

  

 

 

  

Expired

 

(816)

 

$

3.21

 

  

 

 

  

Options outstanding, December 29, 2018

 

6,097

 

$

2.69

 

4.42

 

$

 —

Vested and expected to vest at December 29, 2018

 

6,097

 

$

2.69

 

4.40

 

$

 —

Options exercisable, December 29, 2018

 

3,956

 

$

2.77

 

3.90

 

$

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

 

 

    

Weighted

    

 

 

 

 

 

 

Weighted

 

Average

 

 

 

 

 

 

 

Average

 

Remaining

 

Aggregate 

 

 

 

 

Exercise

 

Contractual

 

Intrinsic

 

    

Shares

    

Price

    

Term (in years)

    

Value(1)

Options outstanding, December 31, 2016

 

6,129

 

$

2.81

 

  

 

 

  

Granted

 

1,445

 

$

3.34

 

  

 

 

  

Exercised

 

(1,074)

 

$

1.67

 

  

 

 

  

Cancelled:

 

  

 

 

  

 

  

 

 

  

Forfeited

 

(161)

 

$

2.16

 

  

 

 

  

Expired

 

(406)

 

$

6.50

 

  

 

 

  

Options outstanding, December 30, 2017

 

5,933

 

$

2.91

 

6.28

 

$

1,337

Vested and expected to vest at December 30, 2017

 

5,933

 

$

2.91

 

6.28

 

$

1,337

Options exercisable, December 30, 2017

 

3,704

 

$

2.78

 

4.79

 

$

1,236

 

(1)

These amounts represent the difference between the exercise price and the closing price of U.S. Auto Parts Network, Inc. common stock at the end of the respective fiscal year as reported on the NASDAQ Stock Market, for all options outstanding that have an exercise price currently below the closing price.

The weighted-average fair value of options granted during fiscal year 2018 and 2017 was $1.11 and $1.85, respectively. The intrinsic value of stock options at the date of the exercise is the difference between the fair value of the stock at the date of exercise and the exercise price. During fiscal year 2018 2017, the total intrinsic value of the exercised options was $1 and $1,911, respectively. The Company had $2,701 of unrecognized share-based compensation expense related to stock options outstanding as of December 29, 2018, which expense is expected to be recognized over a weighted-average period of 2.08 years.

The following tables summarize the Company’s stock option activity under the AutoMD 2014 Equity Incentive Plan (the "AMD Plan") for the fiscal years ended, and details regarding the options outstanding and exercisable at December 30, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

 

 

    

Weighted

    

 

 

 

 

 

 

Weighted

 

Average

 

 

 

 

 

 

 

Average

 

Remaining

 

Aggregate 

 

 

 

 

Exercise

 

Contractual

 

Intrinsic

 

    

Shares

    

Price

    

Term (in years)

    

Value

Options outstanding, December 31, 2016

 

1,405

 

$

1.00

 

  

 

 

  

Granted

 

 —

 

$

 —

 

  

 

 

  

Exercised

 

 —

 

$

 —

 

  

 

 

  

Cancelled:

 

  

 

 

  

 

  

 

 

  

Forfeited

 

(1,405)

 

$

1.00

 

  

 

 

  

Expired

 

 —

 

$

 —

 

  

 

 

  

Options outstanding, December 30, 2017

 

 —

 

$

 —

 

0.00

 

$

 —

Vested and expected to vest at December 30, 2017

 

 —

 

$

 —

 

0.00

 

$

 —

Options exercisable, December 30, 2017

 

 —

 

$

 —

 

0.00

 

$

 —

 

Summary of Assumptions Used

The fair value of each option grant, excluding those options issued from the stock option exchange program as discussed above, was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions for each of the periods ended:

 

 

 

 

 

 

 

 

Fiscal Year Ended

 

 

    

December 29, 2018

    

December 30, 2017

 

Expected life

 

5.62 - 5.73 years

 

5.54 - 5.70 years

 

Risk-free interest rate

 

2%  - 3%

 

2%  

 

Expected volatility

 

58%

 

59% - 61%  

 

Expected dividend yield

 

—%

 

—%

 

 

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

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

 

 

 

 

 

 

 

 

 

Fiscal Year Ended

 

    

December 29, 2018

    

December 30, 2017

Marketing expense

 

$

185

 

$

426

General and administrative expense

 

 

2,984

 

 

1,906

Fulfillment expense

 

 

284

 

 

372

Technology expense

 

 

142

 

 

138

Total share-based compensation expense

 

$

3,595

 

$

2,842