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Employee Benefit Plans | 6 Months Ended
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Jun. 27, 2014
Postemployment Benefits [Abstract] |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS Harmonic grants stock options and restricted stock units (“RSUs”) pursuant to stockholder approved equity incentive plans. These equity incentive plans are described in detail in Note 12, “Employee Benefit Plans”, of Notes to Consolidated Financial Statements in the 2013 Form 10-K Stock Options and Restricted Stock Units The following table summarizes the Company’s stock option and RSU unit activity during the six months ended June 27, 2014 (in thousands, except per share amounts):
|  |  | Stock Options Outstanding |  | Restricted Stock Units Outstanding
| Shares Available for Grant |  | Number of Shares |  | Weighted Average Exercise Price |  | Number of Units |  | Weighted Average Grant Date Fair Value
Balance at December 31, 2013 | 8,752 |  |  | 7,885 |  |  | $ | 6.92 |  |  | 3,018 |  |  | $ | 6.34 |
Authorized | — |  |  | — |  |  | — |  |  | — |  |  | — |
Granted | (3,195 | ) |  | 1,349 |  |  | 6.49 |  |  | 1,230 |  |  | 6.55 |
Options exercised | — |  |  | (199 | ) |  | 5.25 |  |  | — |  |  | — |
Shares released | — |  |  | — |  |  | — |  |  | (1,187 | ) |  | 6.22 |
Forfeited or cancelled | 1,296 |  |  | (1,285 | ) |  | 8.43 |  |  | (132 | ) |  | 6.26 |
Balance at June 27, 2014 | 6,853 |  |  | 7,750 |  |  | $ | 6.64 |  |  | 2,929 |  |  | $ | 6.48 |
The following table summarizes information about stock options outstanding as of June 27, 2014 (in thousands, except per share amounts):
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value
Vested and expected to vest | 7,359 |  |  | $ | 6.65 |  |  | 3.8 |  | $ | 8,610 |
Exercisable | 4,807 |  |  | 6.84 |  |  | 2.7 |  | 5,460 |
The intrinsic value of options vested and expected to vest and exercisable as of June 27, 2014 is calculated based on the difference between the exercise price and the fair value of the Company’s common stock as of June 27, 2014. The intrinsic value of options exercised during the three and six months ended June 27, 2014 was $0.2 million and $0.4 million, respectively. The intrinsic value of options exercised during the three and six months ended June 28, 2013 was $0.4 million and $0.9 million, respectively. The following table summarizes information about restricted stock units outstanding as of June 27, 2014 (in thousands, except per share amounts):
| Number of Shares Underlying Restricted Stock Units |  | Weighted Average Remaining Vesting Period (Years) |  | Aggregate Fair Value
Vested and expected to vest | 2,691 |  |  | 0.8 |  | $ | 20,045 |
The fair value of restricted stock units vested and expected to vest as of June 27, 2014 is calculated based on the fair value of the Company's common stock as of June 27, 2014. Employee Stock Purchase Plan The 2002 Employee Stock Purchase Plan (“ESPP”) provides for the issuance of common stock purchase rights to employees of the Company. The ESPP is intended to qualify as an “employee stock purchase plan” under Section 423 of the Internal Revenue Code. The ESPP enables employees to purchase shares at 85% of the fair market value of the common stock at the beginning or end of the offering period, whichever is lower. Offering periods generally begin on the first trading day on or after January 1 and July 1 of each year. Employees may participate through payroll deductions of 1% to 10% of their earnings. In the event that there are insufficient shares in the plan to fully fund the issuance, the available shares will be allocated across all participants based on their contributions relative to the total contributions received for the offering period. There was a shortage of approved shares in the ESPP to fund the total employee contributions from January 2, 2013 to June 30, 2013. The shares available in the plan were sufficient to fund approximately 53% of the total contributions. As a result, the shares available were issued ratably to the participants based on each of their contributions during the offering period, relative to the total contributions received from all participants. The participants were refunded the remaining 47% of their contributions and the ESPP was suspended for the second half of 2013. The Company’s stockholders approved a 1,000,000 share increase in the authorized shares for the ESPP during the Company’s annual meeting on August 14, 2013, and contributions under the ESPP resumed in January 2014. 401(k) Plan Harmonic has a retirement/savings plan which qualifies as a thrift plan under Section 401(k) of the Internal Revenue Code. This plan allows participants to contribute up to the applicable Internal Revenue Code limitations under the plan. Harmonic has made discretionary contributions to the plan of 25% of the first 4% contributed by eligible participants, up to a maximum contribution per participant of $1,000 per year. Harmonic contributed $277,000 and $312,000 for the six months ended June 27, 2014 and June 28, 2013, respectively.

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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References No definition available. + Details
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- Details
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