Stockholders' Equity and Share-Based Compensation |
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stockholders' Equity and Share-Based Compensation |
Stockholders’ Equity and Share-Based Compensation
Non-Controlling Interest
Non-controlling interests represent equity interests in consolidated subsidiaries that are not attributable, either directly or indirectly, to the Company (i.e., minority interests). Non-controlling interests include the minority equity holders' proportionate share of the equity of AutoMD. Ownership interests in subsidiaries held by parties other than the Company are presented as non-controlling interests within stockholders' equity, separately from the equity held by the Company. Revenues, expenses, net loss and other comprehensive income are reported in the consolidated financial statements at the consolidated amounts, which includes amounts allocated to both the Company's interest and the non-controlling interests in AutoMD. Net loss and other comprehensive income is then attributed to the Company's interest and the non-controlling interests. Net loss to non-controlling interests is deducted from net loss in the consolidated statements of comprehensive operations to determine net loss attributable to the Company's common stockholders.
The following table summarizes the Company’s stock option activity under the AMD Plan for the twenty-six weeks ended July 4, 2015, and details regarding the options outstanding and exercisable at July 4, 2015:
At July 4, 2015, 740 shares were available for future grants under the AMD Plan.
The weighted-average fair value of options granted during the twenty-six weeks ended July 4, 2015 and June 28, 2014 was $0.54 and $0, respectively. The intrinsic value of stock options at the date of exercise is the difference between the fair value of the stock at the date of the balance sheet and the exercise price. During the twenty-six weeks ended July 4, 2015 and June 28, 2014, the options had $0 intrinsic value as none were exercisable. The Company had $438 of unrecognized share-based compensation expense related to stock options outstanding as of July 4, 2015, which expense is expected to be recognized over a weighted-average period of 3.56 years.
Options exercised under all share-based compensation plans are granted 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 twenty-six weeks ended July 4, 2015, we withheld 27 shares to satisfy $80 of employees' tax obligations and 64 shares related to the net settlement of the stock options.
USAP Options and Restricted Stock Units
The Company had the following common stock option activity during the twenty-six weeks ended July 4, 2015:
•Granted options to purchase 1,225 common shares.
•Forfeitures of 164 options to purchase common shares.
The following table summarizes the Company’s restricted stock unit ("RSU") activity for the twenty-six weeks ended July 4, 2015, and details regarding the awards outstanding and exercisable at July 4, 2015 (in thousands):
During the twenty-six weeks ended July 4, 2015, 398 RSUs vested, of which 221 were time-based and 177 were performance-based. For the majority of RSUs awarded, the number of shares issued on the date the RSUs 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 twenty-six weeks ended July 4, 2015, we withheld 151 shares to satisfy $358 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 and twenty-six weeks ended July 4, 2015, we recorded compensation expense of $321 and $558, respectively. As of July 4, 2015, there was unrecognized compensation expense of $833 related to unvested RSUs based on awards that are expected to vest. The unrecognized compensation expense is expected to be recognized over a weighted-average period of 0.59 years.
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