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Common Stock
12 Months Ended
Jan. 02, 2016
Common Stock.  
Common Stock

10.   Common Stock

        Share-Based Compensation.    Approximately $5.8 million, $5.3 million, and $2.9 million of share-based compensation expense was recorded in fiscal 2015, fiscal 2014, and fiscal 2013, respectively, as an increase to common stock for share-based payment awards made to CRA's employees and directors, based on the estimated grant date fair values of stock options, shares of restricted stock, and restricted stock units vesting during the period.

        CRA also recorded $11,000, $271,000, and $147,000 for fiscal 2015, fiscal 2014, and fiscal 2013, respectively, in shared-based compensation expense for grants to non-employees (other than directors).

        Restricted Share Vesting.    In fiscal 2015, fiscal 2014, and fiscal 2013, 106,504, 149,195, and 134,384 shares of restricted stock and restricted stock units vested, respectively. CRA redeemed 28,900, 41,470, and 37,642 of these shares from their holders in order to pay $0.7 million, $1.2 million, and $0.7 million, respectively, of employee tax withholdings.

        Common Stock Repurchases and Retirements.    On August 10, 2012, February 13, 2014, and October 23, 2014, CRA's Board of Directors authorized the repurchase of up to $5.0 million, $15.0 million, and $30.0 million, respectively, of CRA's common stock. Repurchases under these programs are discretionary and CRA may make such repurchases under any of these programs in the open market (including under any Rule 10b5-1 plan adopted by CRA) or in privately negotiated transactions, in each case in accordance with applicable insider trading and other securities laws and regulations. CRA records the retirement of its repurchased shares as a reduction to common stock. During fiscal 2015, CRA repurchased and retired 477,292 shares under these share repurchase programs at an aggregate price of approximately $12.8 million, resulting in approximately $8.1 million available for future repurchases as of January 2, 2016. During fiscal 2014, CRA repurchased and retired 971,515 shares under these share repurchase programs at an aggregate price of approximately $25.5 million, resulting in approximately $20.9 million available for future repurchases as of January 3, 2015. During fiscal 2013, CRA repurchased and retired 118,968 shares under these share repurchase programs at an aggregate price of approximately $2.2 million, resulting in approximately $1.4 million available for future repurchases as of December 28, 2013.

        Exercise of Stock Options.    During fiscal 2015, 29,288 options were exercised for $0.6 million of proceeds. During fiscal 2014, 20,931 options were exercised for $0.5 million of proceeds. During fiscal 2013, 13,389 options were exercised for $0.2 million of proceeds.

        Tax Benefits and Deficits on Stock Option Exercises and Restricted Share Vesting.    In fiscal 2014, CRA recorded $0.1 million of tax benefits on stock option exercises and the vesting of shares of restricted stock and restricted stock units as an increase to common stock. CRA recorded tax deficits on stock options exercises and the vesting of shares of restricted stock and restricted stock units as a decrease to common stock in fiscal 2015 and fiscal 2013, totaling $0.4 million and $0.3 million, respectively.