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SHAREHOLDERS’ EQUITY (Tables) | 12 Months Ended
--- | ---
Dec. 27, 2019
Summary of option activity and changes during the period |
|  |  |  |  |  |  | Weighted- |
|  |  |  | Weighted- |  | Average |
|  |  |  | Average |  | Remaining |
|  |  |  | Exercise |  | Contractual |
|  | Options |  | Price |  | Term |
|  | (in thousands) |  |  |  |  | (in years) |
Outstanding at December 28, 2018 |  | 1,252 |  | $ | 16.87 |  | 6.62 |
Granted |  | — |  |  | — |  | — |
Exercised |  | (115) |  |  | 8.08 |  | — |
Forfeited or expired |  | (13) |  |  | 14.97 |  | — |
Outstanding at December 27, 2019 |  | 1,124 |  | $ | 17.80 |  | 6.06 |
Vested and expected to vest at December 27, 2019 |  | 1,124 |  | $ | 17.80 |  | 6.06 |
Exercisable at December 27, 2019 |  | 958 |  | $ | 15.48 |  | 5.68 |
|  |  |  |  |  |  | Weighted- |
|  |  |  | Weighted- |  | Average |
|  |  |  | Average |  | Remaining |
|  |  |  | Exercise |  | Contractual |
|  | Options |  | Price |  | Term |
|  | (in thousands) |  |  |  |  | (in years) |
Outstanding at December 29, 2017 |  | 1,207 |  | $ | 14.04 |  | 7.02 |
Granted |  | 158 |  |  | 31.54 |  | — |
Exercised |  | (85) |  |  | 7.85 |  | — |
Forfeited or expired |  | (28) |  |  | 5.07 |  | — |
Outstanding at December 28, 2018 |  | 1,252 |  | $ | 16.87 |  | 6.62 |
Vested and expected to vest at December 28, 2018 |  | 1,252 |  | $ | 16.87 |  | 6.62 |
Exercisable at December 28, 2018 |  | 838 |  | $ | 12.20 |  | 5.58 |
|  |  |  |  |  |  | Weighted- |
|  |  |  | Weighted- |  | Average |
|  |  |  | Average |  | Remaining |
|  |  |  | Exercise |  | Contractual |
|  | Options |  | Price |  | Term |
|  | (in thousands) |  |  |  |  | (in years) |
Outstanding at December 30, 2016 |  | 1,311 |  | $ | 10.15 |  | 6.69 |
Granted |  | 199 |  |  | 30.28 |  | — |
Exercised |  | (271) |  |  | 7.02 |  | — |
Forfeited or expired |  | (32) |  |  | 15.65 |  | — |
Outstanding at December 29, 2017 |  | 1,207 |  | $ | 14.04 |  | 7.02 |
Vested and expected to vest at December 29, 2017 |  | 1,207 |  | $ | 14.04 |  | 7.02 |
Exercisable at December 29, 2017 |  | 660 |  | $ | 8.84 |  | 5.58 |
Summary of the status of the nonvested options and changes in nonvested options |
|  |  |  | Weighted- |
|  |  |  | Average |
|  |  |  | Grant-Date |
|  | Options |  | Fair Value |
|  | (in thousands) |  |  |  |
Nonvested at December 28, 2018 |  | 414 |  | $ | 8.69 |
Granted |  | — |  |  | — |
Vested |  | (242) |  |  | 9.43 |
Forfeited |  | (6) |  |  | 10.87 |
Nonvested at December 27, 2019 |  | 166 |  |  | 12.15 |
|  |  |  | Weighted- |
|  |  |  | Average |
|  |  |  | Grant-Date |
|  | Options |  | Fair Value |
|  | (in thousands) |  |  |  |
Nonvested at December 29, 2017 |  | 547 |  | $ | 6.43 |
Granted |  | 158 |  |  | 12.73 |
Vested |  | (263) |  |  | 7.29 |
Forfeited |  | (28) |  |  | 5.07 |
Nonvested at December 28, 2018 |  | 414 |  |  | 8.69 |
|  |  |  | Weighted- |
|  |  |  | Average |
|  |  |  | Grant-Date |
|  | Options |  | Fair Value |
|  | (in thousands) |  |  |  |
Nonvested at December 30, 2016 |  | 653 |  | $ | 4.75 |
Granted |  | 199 |  |  | 12.23 |
Vested |  | (273) |  |  | 6.68 |
Forfeited |  | (32) |  |  | 15.65 |
Nonvested at December 29, 2017 |  | 547 |  |  | 6.43 |
Schedule of assumptions | The risk‑free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The assumptions are as follows:
|  | 2019 |  |  | 2018 |  |  | 2017 |
Expected volatility |  | 34 | % |  | 37 | % | - | 38 | % |  | 38 | % | - | 41 | %
Expected dividends |  | 0 | % |  |  |  |  | 0 | % |  |  |  |  | 0 | %
Expected term (in years) |  | 6 |  |  |  |  |  | 6 |  |  |  |  |  | 6 |
Risk-free rate |  | 2.49 | % |  | 2.65 | % | - | 2.78 | % |  | 1.86 | % | - | 2.08 | %
The fair value of ESPP purchase rights issued is calculated using the Black‑Scholes valuation model that uses the assumptions noted in the following table. Purchase right under the ESPP are generally granted on either January 1 or July 1 of each year. The assumptions are as follows:
|  | 2019 |  |  | 2018 |  |  | 2017 |
Weighted-average expected term (in years) |  |  | .5 |  |  |  | .5 |  |  |  | .5 |
Risk-Free interest Rate |  |  | 2.3 | % |  |  | 1.4 | % |  |  | 0.65 | %
Stock Price Volatility |  |  | 35.6 | % |  |  | 37.9 | % |  |  | 40.7 | %
Dividend yield |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
Fair Value |  | $ | 33.01 |  |  | $ | 26.86 |  |  | $ | 23.02 |
Restricted stock |
Summary of restricted stock activity |
|  |  |  | Weighted- |
|  |  |  | Average |
|  | Restricted Stock |  | Grant Date Fair Value |
|  | (in thousands) |  |  |  |
Outstanding at December 28, 2018 |  | 64 |  | $ | 22.28 |
Awarded |  | 37 |  |  | 35.60 |
Vested |  | (43) |  |  | 18.90 |
Forfeited |  | — |  |  | — |
Outstanding at December 27, 2019 |  | 58 |  | $ | 33.33 |
Outstanding at December 29, 2017 |  | 87 |  | $ | 17.67 |
Awarded |  | 22 |  |  | 28.17 |
Vested |  | (45) |  |  | 16.09 |
Forfeited |  | — |  |  | — |
Outstanding at December 28, 2018 |  | 64 |  | $ | 22.28 |
Outstanding at December 30, 2016 |  | 99 |  | $ | 11.37 |
Awarded |  | 28 |  |  | 31.53 |
Vested |  | (40) |  |  | 33.02 |
Forfeited |  | — |  |  | — |
Outstanding at December 29, 2017 |  | 87 |  | $ | 17.67 |
Performance Shares |
Summary of restricted stock activity |
|  | Performance-Based |  | Weighted-Average
|  | Restricted Stock Unit |  | Grant Date Fair Value
|  | (in thousands) |  |  |
Outstanding at December 28, 2018 |  | 280 |  | $ | 21.94
Awarded |  | 329 |  |  | 28.99
Released |  | (175) |  |  | 21.94
Forfeited |  | (3) |  |  | 27.28
Outstanding at December 27, 2019 |  | 431 |  | $ | 27.28
Outstanding at December 29, 2017 |  | — |  | $ | —
Awarded |  | 280 |  |  | 21.94
Vested |  | — |  |  | —
Forfeited |  | — |  |  | —
Outstanding at December 28, 2018 |  | 280 |  | $ | 21.94

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- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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