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STOCK-BASED COMPENSATION
 3 Months Ended
Mar. 28, 2020
Share-based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
The Company recorded stock-based compensation expense as follows:
 
Fiscal quarter ended
(dollars in thousands)
March 28, 2020
 
March 30, 2019
Stock options
$
883

 
$
1,347

Restricted stock:
 
 
 
   Time-based awards
2,989

 
2,548

   Performance-based awards
(1,927
)
 
718

Total
$
1,945

 
$
4,613


On February 12, 2020, the Company's Board of Directors approved the issuance of the following new awards to certain key employees under the Company's existing stock-based compensation plan, subject to vesting: 138,168 shares of time-based restricted stock awards with a grant-date fair value of $110.35 each; and 55,952 shares of performance-based restricted stock awards with a grant-date fair value of $110.35 each.
During the first quarter of fiscal 2020, a total of 109,345 restricted stock awards (time- and performance-based) vested.
The Company recognizes compensation cost ratably over the applicable performance periods based on the estimated probability of achievement of its performance targets at the end of each period. During the first quarter of fiscal 2020, the achievement of performance target estimates was revised resulting in a $2.8 million reversal of previously recognized stock-based compensation expense.