| Summary of stock option activity |
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Shares |
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|
Weighted
Average
Exercise Price |
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|
Weighted Average
Remaining
Contractual
Term (in years) |
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|
Aggregate
Intrinsic Value |
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|
Options outstanding, December 31, 2011
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|
|
5,526,090 |
|
|
$ |
4.51 |
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|
6.95 |
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|
|
|
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Granted
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|
787,500 |
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$ |
4.20 |
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Exercised
|
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|
(55,772 |
) |
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$ |
2.48 |
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Expired
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(166,375 |
) |
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$ |
4.76 |
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Forfeited
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(102,500 |
) |
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$ |
7.70 |
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Options outstanding, September 29, 2012
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5,988,943 |
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$ |
4.43 |
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|
6.87 |
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|
$ |
2,783,224 |
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Options vested and expected to vest, September 29, 2012
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5,501,622 |
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$ |
4.39 |
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|
6.67 |
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$ |
2,782,451 |
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Options exercisable, September 29, 2012
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4,101,202 |
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$ |
4.10 |
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|
5.99 |
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|
$ |
2,586,940 |
|
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|
Shares |
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|
Weighted
Average
Exercise Price |
|
|
Weighted Average
Remaining
Contractual
Term (in years) |
|
|
Aggregate
Intrinsic Value |
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|
Options outstanding, December 31, 2011
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|
1,250,000 |
|
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$ |
5.65 |
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|
6.33 |
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Granted
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|
35,000 |
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$ |
4.30 |
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Exercised
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|
(433,333 |
) |
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$ |
1.15 |
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Forfeited
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(66,667 |
) |
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$ |
1.15 |
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Options outstanding, September 29, 2012
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785,000 |
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$ |
8.46 |
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|
5.25 |
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$ |
— |
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Options vested and expected to vest, September 29, 2012
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766,562 |
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$ |
8.56 |
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|
5.14 |
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$ |
— |
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Options exercisable, September 29, 2012
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|
750,000 |
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$ |
8.65 |
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|
5.04 |
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|
$ |
— |
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| Summary of fair value of option grant |
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Thirteen Weeks Ended
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|
Thirty-Nine Weeks Ended
|
| (Unaudited) |
|
September 29,
2012
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|
October 1,
2011
|
|
September 29,
2012
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|
October 1,
2011
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Expected life
|
|
5.73 years |
|
6.25 years |
|
5.73 years |
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6 – 6.25 years |
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Risk-free interest rate
|
|
0.8% – 1.0% |
|
1.1% |
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0.8% – 1.2% |
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1.1% – 2.6% |
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Expected volatility
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|
74% |
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51% |
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73% – 74% |
|
50% – 51% |
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Expected dividend yield
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|
0% |
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0% |
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0% |
|
0% |
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| Summary of share-based compensation from options, warrants and stock awards |
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Thirteen Weeks Ended |
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Thirty-Nine Weeks Ended |
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| (Unaudited) |
|
September 29,
2012 |
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October 1,
2011
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September 29,
2012 |
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|
October 1,
2011 |
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Marketing expense
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$ |
225 |
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$ |
82 |
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$ |
421 |
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$ |
330 |
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General and administrative expense
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|
265 |
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|
387 |
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|
841 |
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|
1,162 |
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Fulfillment expense
(1)
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|
(54 |
) |
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|
100 |
|
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|
82 |
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|
276 |
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Technology expense
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14 |
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|
54 |
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|
64 |
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|
178 |
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Total share-based compensation expense
|
|
$ |
450 |
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|
$ |
623 |
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|
$ |
1,408 |
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|
$ |
1,946 |
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(1)
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For the thirteen weeks ended September 29, 2012, the negative balance was due to an adjustment of $94,000 related to a performance stock option
since it is not probable that the performance goal will be met at the end of the requisite service period.
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