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Stockholders' Equity and Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 26, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Share repurchases | Shares repurchased and retired for the indicated periods of the applicable repurchase programs with the associated cost of repurchase and amount available for repurchase at the end of the respective periods are as follows (in thousands, except number of shares and weighted average price per share):
|  | Fiscal Year 2015 |  |  | Fiscal Year 2014 |  |  | Fiscal Year 2013 |
Number of shares of common stock repurchased |  |  | 111,050 |  |  |  | 362,633 |  |  |  | 332,771 |
Weighted average price per share |  | $ | 15.49 |  |  | $ | 14.74 |  |  | $ | 15.03 |
Total cost of repurchase |  | $ | 1,721 |  |  | $ | 5,344 |  |  | $ | 5,000 |
Amount available for repurchase at end of period |  | $ | 4,397 |  |  | $ | 6,118 |  |  | $ | 11,462 |
Option plans | The Nanometrics option plans are as follows:
Plan Name |  | Participants |  | Shares Authorized |
2005 Equity Incentive Plan |  | Employees, consultants and directors |  |  | 7,292,594 |
2002 Non-statutory Stock Option Plan |  | Employees and consultants |  |  | 1,200,000 |
2000 Employee Stock Option Plan |  | Employees and consultants |  |  | 2,450,000 |
2000 Director Stock Option Plan |  | Non-employee directors |  |  | 250,000 |
Accent Optical Technologies, Inc. Stock Incentive Plan |  | Employees and consultants |  |  | 205,003 |
Stock options and employee stock purchase plan assumptions | The weighted-average fair value calculations are based on the following average assumptions:
|  | Fiscal Year 2015 |  |  | Fiscal Year 2014 |  |  | Fiscal Year 2013 |
Stock Options: |  |  |  |  |  |  |  |  |  |  |  |
Expected life |  |  | — |  |  | 4.6 years |  |  | 4.5 years |
Volatility |  |  | — |  |  |  | 54.9 | % |  |  | 69.9 | %
Risk free interest rate |  |  | — |  |  |  | 1.54 | % |  |  | 1.05 | %
Dividends |  |  | — |  |  |  | — |  |  |  | — |
Employee Stock Purchase Plan: |  |  |  |  |  |  |  |  |  |  |  |
Expected life |  | 0.5 years |  |  | 0.5 years |  |  | 0.5 years |
Volatility |  |  | 36.9 | % |  |  | 31.2 | % |  |  | 26.8 | %
Risk free interest rate |  |  | 0.12 | % |  |  | 0.54 | % |  |  | 0.11 | %
Dividends |  |  | — |  |  |  | — |  |  |  | — |
Stock option plans activity | A summary of activity of stock options in 2015 is as follows:
|  | Number of Shares Outstanding (Options) |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value (in Thousands) |
Options |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding at December 27, 2014 |  |  | 1,382,993 |  |  | $ | 13.92 |  |  |  | 3.41 |  |  | $ | 4,108 |
Exercised |  |  | (229,510 | ) |  | $ | 9.65 |  |  |  |  |  |  |  |  |
Granted |  |  | — |  |  | $ | — |  |  |  | - |  |  | $ | — |
Cancelled |  |  | (94,012 | ) |  | $ | 16.67 |  |  |  |  |  |  |  |  |
Outstanding at December 26, 2015 |  |  | 1,059,471 |  |  | $ | 14.61 |  |  |  | 2.47 |  |  | $ | 1,920 |
Exercisable at December 26, 2015 |  |  | 926,415 |  |  | $ | 14.36 |  |  |  | 2.15 |  |  | $ | 1,879 |
Ranges of outstanding and exercisable options | The following table summarizes ranges of outstanding and exercisable options as of December 26, 2015.
|  | Options Outstanding |  |  | Options Exercisable |
Exercise Prices |  | Number Outstanding |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Weighted Average Exercise Price |  |  | Number Exercisable |  |  | Weighted Average Exercise Price |
$2.38-$10.46 |  |  | 134,762 |  |  |  | 0.90 |  |  | $ | 7.84 |  |  |  | 134,762 |  |  | $ | 7.8400 |
$10.83-$11.17 |  |  | 14,156 |  |  |  | 1.30 |  |  | $ | 10.93 |  |  |  | 14,156 |  |  | $ | 1.9279 |
$11.37-$11.37 |  |  | 114,166 |  |  |  | 1.89 |  |  | $ | 11.37 |  |  |  | 114,166 |  |  | $ | 11.3700 |
$12.98-$14.8 |  |  | 111,259 |  |  |  | 2.62 |  |  | $ | 13.67 |  |  |  | 94,579 |  |  | $ | 13.6200 |
$14.88-$15.65 |  |  | 111,967 |  |  |  | 3.84 |  |  | $ | 15.44 |  |  |  | 78,894 |  |  | $ | 15.4300 |
$15.74-$15.98 |  |  | 161,850 |  |  |  | 1.81 |  |  | $ | 15.91 |  |  |  | 143,100 |  |  | $ | 15.9200 |
$16.00-$16.50 |  |  | 41,804 |  |  |  | 4.76 |  |  | $ | 16.43 |  |  |  | 23,190 |  |  | $ | 16.4200 |
$16.70-$16.7 |  |  | 186,434 |  |  |  | 1.86 |  |  | $ | 16.70 |  |  |  | 186,434 |  |  | $ | 16.7000 |
$16.89-$18.51 |  |  | 123,773 |  |  |  | 4.22 |  |  | $ | 17.82 |  |  |  | 80,931 |  |  | $ | 17.8300 |
$18.79-$19.84 |  |  | 59,300 |  |  |  | 2.98 |  |  | $ | 19.12 |  |  |  | 56,203 |  |  | $ | 19.1300 |
$2.38-$19.84 |  |  | 1,059,471 |  |  |  | 2.47 |  |  | $ | 14.61 |  |  |  | 926,415 |  |  | $ | 14.3600 |
Summary of activity for RSUs | A summary of activity for RSUs is as follows:
Summary of activity for RSUs |  | Number of RSUs |  |  | Weighted Average Fair Value |
Outstanding RSUs as of December 27, 2014 |  |  | 563,337 |  |  | $ | 17.90 |
Granted |  |  | 506,459 |  |  | $ | 15.62 |
Released |  |  | (237,520 | ) |  | $ | 16.59 |
Cancelled |  |  | (119,033 | ) |  | $ | 16.59 |
Outstanding RSUs as of December 26, 2015 |  |  | 713,243 |  |  | $ | 15.99 |
PSUs valuation assumptions | The assumptions for the valuation of PSUs are summarized as follows:
|  | 2015 Award |
Number of PSUs granted and outstanding as of December 26, 2015 |  |  | 40,000 |
Grant Date Fair Value Per Share |  | $ | 18.35 |
Weighted-average assumptions/inputs: |  |  |  |
Expected Divident |  |  | — |
Range of risk-free interest rates |  | 0.25%-1.1% |
Range of expected volatilities for peer group |  | 23%-65% |
Stock-based compensation expense for all share-based payment awards | Stock-based compensation expense for all share-based payment awards made to the Company’s employees and directors pursuant to the employee stock option and employee stock purchase plans by function were as follows (in thousands):
|  | Fiscal Year 2015 |  |  | Fiscal Year 2014 |  |  | Fiscal Year 2013 |
Cost of products |  | $ | 274 |  |  | $ | 268 |  |  | $ | 207 |
Cost of service |  |  | 309 |  |  |  | 287 |  |  |  | 278 |
Research and development |  |  | 1,036 |  |  |  | 1,245 |  |  |  | 1,478 |
Selling |  |  | 1,881 |  |  |  | 1,642 |  |  |  | 1,894 |
General and administrative |  |  | 2,748 |  |  |  | 3,243 |  |  |  | 2,919 |
Restructuring |  |  | — |  |  |  | 67 |  |  |  | 898 |
Total stock-based compensation expense related to employee stock options and employee stock purchases |  | $ | 6,248 |  |  | $ | 6,752 |  |  | $ | 7,674 |
Stock Options and Restricted Stock Units [Member] |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Stock option plans activity including options and RSUs | A summary of activity under the Company’s stock option plans including options and RSUs during fiscal year 2015, 2014 and 2013 and shares available for grant as of the respective period end dates, is as follows:
|  | Fiscal Year 2015 |  |  | Fiscal Year 2014 |  |  | Fiscal Year 2013 |
Shares available for grant at beginning of fiscal year |  |  | 2,464,082 |  |  |  | 2,937,001 |  |  |  | 1,093,565 |
Increase in authorized shares |  |  | — |  |  |  | — |  |  |  | 2,600,000 |
Options - granted |  |  | — |  |  |  | (74,300 | ) |  |  | (430,800 | )
Options - cancelled |  |  | 94,012 |  |  |  | 191,061 |  |  |  | 150,459 |
Options - expired plan shares |  |  | (1,800 | ) |  |  | (17,491 | ) |  |  | (53,607 | )
RSUs – granted |  |  | (860,980 | ) |  |  | (805,120 | ) |  |  | (664,902 | )
RSUs – cancelled |  |  | 202,356 |  |  |  | 167,404 |  |  |  | 133,418 |
RSUs - shares issued to satisfy tax withholding obligations |  |  | 120,919 |  |  |  | 65,527 |  |  |  | 108,868 |
PSUs – granted |  |  | (68,000 | ) |  |  | — |  |  |  | — |
Shares available for grant at end of fiscal year |  |  | 1,950,589 |  |  |  | 2,464,082 |  |  |  | 2,937,001 |

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