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Share-Based Compensation (Tables)

12 Months Ended

Jan. 03, 2015

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of expense for restricted stock, performance shares, restricted stock units, and stock options, net of estimated forfeitures

Total share-based compensation expense from restricted stock, performance shares, and stock options, net of estimated forfeitures, was as follows:

	Fiscal Year Ended January 3, 2015 (1)				Fiscal Year Ended January 4, 2014 (2)				Fiscal Year Ended December 29, 2012
	(In thousands)
Restricted Stock	$	1,941			$	3,521			$	2,730
Performance Shares	1,725				2,596				—
Options and other (3)	174				—				67
Total	$	3,840			$	6,117			$	2,797

(1) During fiscal 2014, four employees participating in the plan no longer were employed by the Company, and one director did not stand for re-election. See “Performance shares” above. The Compensation Committee approved an amendment to their Restricted Share Award Agreements to accelerate the vesting of their restricted shares. These amendments were determined to be modifications of the awards, and an adjustment related to the difference in fair value was recorded in fiscal 2014. Share-based compensation expense of $1.2 million was accordingly recorded during fiscal 2014.

(2) Approximately $2.9 million of total share-based compensation during fiscal 2013 is related to the 2013 restructuring and change in executive leadership.

(3) As of January 3, 2015, there was no future compensation expense remaining for options.

Restricted Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of activity for restricted stock and restricted stock units

The following table summarizes activity for our restricted stock awards during fiscal 2014:

	Restricted Stock
	Number of Awards			Weighted Average Fair Value
Outstanding at January 4, 2014	1,618,283			$	2.50
Granted	1,969,712			1.53
Vested (1)	(1,256,147	)		1.93
Forfeited	(142,670	)		1.99
Outstanding at January 3, 2015	2,189,178			$	1.68

(1) The total fair value vested in fiscal 2014, fiscal 2013, and fiscal 2012 was $2.4 million, $6.4 million, and $2.3 million, respectively.

Performance Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of outstanding employee stock options

The following table summarizes activity for our performance share awards during fiscal 2014:

	Performance Shares
	Number of Awards			Weighted Average Fair Value
Outstanding at January 4, 2014	2,192,868			$	2.50
Granted	—			—
Vested (1) (2)	(1,038,958	)		1.64
Forfeited	(51,821	)		2.49
Outstanding at January 3, 2015 (2)	1,102,089			$	1.56

(1) The total fair value vested in fiscal 2014 and fiscal 2013 was $1.7 million and $1.5 million, respectively.

(2) During fiscal 2014, four employees participating in the plan no longer were employed by the Company, and one director did not stand for re-election. The Compensation Committee approved an amendment to their Performance Share Award Agreements to allow their shares to vest, when they vest for individuals still employed by the Company. These amendments were determined to be modifications of the awards, and an adjustment related to the difference in fair value was recorded in fiscal 2014. The awards were classified as liability awards, and were marked to market. As of January 3, 2015, the fair value of these awards was based on the opening price of our common stock on January 2, 2015, of $1.14. There were 161,024 of these shares that vested in fiscal 2014, and 828,568 of these shares remaining as of January 3, 2015.

Stock options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of outstanding employee stock options

The tables below summarize activity and include certain additional information related to our outstanding employee stock options for the year ended January 3, 2015. The maximum contractual term for stock options is ten years. There have been no new employee stock option grants and no stock option exercises during fiscal years 2014, 2013, and 2012.

	Options
	Shares			Weighted Average Exercise Price
Outstanding at January 4, 2014	784,500			$	5.05
Granted	—			—
Exercised	—			—
Forfeited	—			—
Expired	—			—
Outstanding at January 3, 2015	784,500			5.05
Exercisable at January 3, 2015	784,500			$	5.05

Schedule of share-based compensation, shares authorized under stock option plans, by exercise price range

		Outstanding									Exercisable
Price Range		Number of Options			Weighted Average Exercise Price				Weighted Average Remaining Contractual Life (in Years)		Number of Options			Weighted Average Exercise Price				Weighted Average Remaining Contractual Life (in Years)
$4.66		750,000			$	4.66			3.2		750,000			$	4.66			3.2
$11.40-$14.01		34,500			$	13.25			1.3		34,500			$	13.25			1.3
		784,500							3.1		784,500							3.1

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Tabular disclosure of the changes in outstanding nonvested shares.

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