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Stockholders Equity
 6 Months Ended
Jun. 24, 2016
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Note 9 Stockholders Equity

  

During the twenty-six weeks ended June 24, 2016, the Company granted 147,972 restricted stock awards (“RSAs”) to its employees and independent directors at a weighted average grant date fair value of $19.46 each. These awards are a mix of time and performance based grants which will vest over periods of two to four years. During the thirteen and twenty-six weeks ended June 24, 2016, the Company recognized expense totaling $192 and $247 on these RSAs and $400 and $851 of expense for RSAs issued in prior years.

 

During March 2016, the Company granted 259,577 non-qualified stock options with market condition provisions to its employees at a weighted average grant date fair value of $9.44 each. These awards vest over a period of three years and require the Company’s stock to trade at or above $30 per share for 20 consecutive days within four years of issuance to meet the market condition threshold. During the thirteen and twenty-six weeks ended June 24, 2016, the Company recognized expense totaling $216 and $272 on these options, respectively.

 

At June 24, 2016, the Company had 317,330 unvested RSAs outstanding. At June 24, 2016, the total unrecognized compensation cost for these unvested RSAs was $5,296 and the weighted-average remaining useful life was approximately 19 months. Of this total, $3,947 related to RSAs with time-based vesting provisions and $1,349 related to RSAs with performance-based vesting provisions. At June 24, 2016, the weighted-average remaining useful lives for time-based vesting RSAs and performance-based vesting RSAs were approximately 18 months and 26 months, respectively. No compensation expense related to the Company’s RSAs has been capitalized.

 

As of June 24, 2016, there were 630,809 shares available for grant under the Company’s 2011 Omnibus Equity Incentive Plan.