XML 27 R16.htm IDEA: XBRL DOCUMENT
v3.21.2

Stock-Based Compensation | 9 Months Ended
--- | ---
Oct. 02, 2021
Stock-Based Compensation [Abstract] |
Stock-Based Compensation | Note 9 – Stock-Based Compensation The Company has various stockholder-approved programs which allow for the grant of stock-based compensation to officers, employees, and non-employee directors of the Company. The amount of compensation cost related to stock-based payment transactions is measured based on the grant-date fair value of the equity instruments issued. The Company determines compensation cost for restricted stock units (“RSUs”) and phantom stock units based on the grant-date fair value of the underlying common stock adjusted for expected dividends paid over the required vesting period for non-participating awards. Compensation cost is recognized over the period that an officer, employee, or non-employee director provides service in exchange for the award. The following table summarizes stock-based compensation expense recognized:
|  | Fiscal quarters ended |  |  | Nine fiscal months ended |
|  | October 2, 2021 |  |  | October 3, 2020 |  |  | October 2, 2021 |  |  | October 3, 2020 |
Restricted stock units |  | $ | 828 |  |  | $ | 732 |  |  | $ | 5,567 |  |  |  | 4,390 |
Phantom stock units |  |  | - |  |  |  | - |  |  |  | 209 |  |  |  | 215 |
Total |  | $ | 828 |  |  | $ | 732 |  |  | $ | 5,776 |  |  |  | 4,605 |
The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at October 2, 2021 (amortization periods in years):
|  | Unrecognized Compensation Cost |  |  | Weighted Average Remaining Amortization Periods |
Restricted stock units |  | $ | 4,229 |  |  |  | 0.9 |
Phantom stock units |  |  | - |  |  |  | n/a |
Total |  | $ | 4,229 |  |  |  |  |
The Company currently expects all performance-based RSUs to vest and all of the associated unrecognized compensation cost for performance-based RSUs presented in the table above to be recognized. Restricted Stock Units RSU activity under the 2007 Program as of October 2, 2021 and changes during the nine fiscal months then ended are presented below (number of RSUs in thousands):
|  | Number of RSUs |  |  | Weighted Average Grant-date Fair Value per Unit |
Outstanding: |  |  |  |  |  |
January 1, 2021 |  |  | 793 |  |  | $ | 18.90 |
Granted |  |  | 319 |  |  |  | 22.07 |
Vested* |  |  | (235 | ) |  |  | 18.79 |
Cancelled or forfeited |  |  | - |  |  |  | - |
Outstanding at October 2, 2021 |  |  | 877 |  |  | $ | 20.08 |
Expected to vest at October 2, 2021 |  |  | 877 |  |  |  |  |
* The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements. The number of performance-based RSUs that are scheduled to vest increases ratably based on the achievement of defined performance criteria between the established target and maximum levels. RSUs with performance-based vesting criteria are expected to vest as follows (number of RSUs in thousands):
Vesting Date |  | Expected to Vest |  |  | Not Expected to Vest |  |  | Total |
January 1, 2022 |  |  | 174 |  |  |  | - |  |  |  | 174 |
January 1, 2023 |  |  | 152 |  |  |  | - |  |  |  | 152 |
January 1, 2024 |  |  | 165 |  |  |  | - |  |  |  | 165 |
Phantom Stock Units Phantom stock unit activity under the phantom stock plan as of October 2, 2021 and changes during the nine fiscal months then ended are presented below (number of phantom stock units in thousands):
|  | Number of units |  |  | Grant-date Fair Value per Unit |
Outstanding: |  |  |  |  |  |
January 1, 2021 |  |  | 198 |  |  |  |
Granted |  |  | 10 |  |  | $ | 20.89 |
Dividend equivalents issued |  |  | 3 |  |  |  |  |
Outstanding at October 2, 2021 |  |  | 211 |  |  |  |  |

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration