XML 53 R13.htm IDEA: XBRL DOCUMENT
v2.4.0.6

STOCK-BASED COMPENSATION | 9 Months Ended
--- | ---
Sep. 29, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION The fair value of stock option awards is estimated on the date of grant using the Black-Scholes-Merton option-pricing model. There were no stock options granted in the nine month period ended September 29, 2012, or in fiscal year 2011. The fair value of non-vested restricted common stock awards is generally the market value of the Company’s equity shares on the date of grant. The non-vested common stock awards require the employee to fulfill certain obligations, including remaining employed by the Company for one, two or four years (the vesting period) and in certain cases also require meeting either performance criteria or the Company’s stock achieving a certain price. The performance criteria primarily consist of the achievement of the Company’s annual incentive plan goals. For non-vested restricted common stock awards which solely require the recipient to remain employed with the Company, the stock compensation expense is amortized over the anticipated service period. For non-vested restricted common stock awards which require the achievement of performance criteria, the Company reviews the probability of achieving the performance goals on a periodic basis. If the Company determines that it is probable that the performance criteria will be achieved, the amount of compensation cost derived for the performance goal is amortized over the service period. If the performance criteria are not met, no compensation cost is recognized and any previously recognized compensation cost is reversed. The Company recognizes compensation costs on a straight-line basis over the requisite service period for time-vested awards. In 2011, the Company granted 380,000 shares of phantom stock which will be settled in cash at the end of the first 10 consecutive trading day period following the grant date during which the Company’s common stock trades at a price per share equal to or greater than $5.25, prior to September 12, 2016. The vesting of the awards upon achieving a closing stock price of $5.25 for 10 consecutive days is considered a market condition which requires the Company to periodically assess the fair market value of the award, with increases or decrease in the fair market value being reflected in the statement of operations. A summary of award activity under the stock option plans as of September 29, 2012 and changes during the nine month period is as follows (all options were vested as of September 29, 2012):
| Nine months ended September 29, 2012
| Shares |  | Weighted Average Exercise Price
Balance, December 31, 2011 | 1,903,325 |  |  | $ | 5.07 |
Options forfeited/cancelled | (64,980 | ) |  | 7.98 |
Options exercised | — |  |  | — |
Balance, all exercisable, September 29, 2012 | 1,838,345 |  |  | $ | 4.97 |
The following table summarizes information about stock options outstanding and exercisable at September 29, 2012:
| Options Outstanding and Exercisable
Range of Exercise Prices | Number Outstanding and Exercisable |  | Weighted Average Remaining Contractual Life (Years) |  | Weighted Average Exercise Price
$ 0.01—$ 3.50 | 130,000 |  |  | 4.00 |  | $ | 3.49 |
$ 3.75—$ 4.82 | 1,069,340 |  |  | 1.60 |  | 4.45 |
$ 5.00—$ 8.03 | 539,005 |  |  | 2.23 |  | 5.40 |
$10.00—$10.00 | 100,000 |  |  | 4.00 |  | 10.00 |
| 1,838,345 |  |  | 2.09 |  | $ | 4.97 |
Aggregate intrinsic value on September 29, 2012 | $ | 37,641 |  |  |  |  |
As of September 29, 2012, the Company had a warrant outstanding to purchase 200,000 shares of the Company’s stock at $3.49. The warrant became fully vested as of June 30, 2012. Non-Vested Restricted Common Stock A summary of the activity for non-vested restricted common stock awards as of September 29, 2012 and changes during the nine month period is presented below:
| Shares |  | Weighted Average Grant Fair Value
Balance, December 31, 2011 | 2,897,682 |  |  | $ | 4.20 |
Granted | 85,000 |  |  | 3.60 |
Forfeited | (23,566 | ) |  | 4.36 |
Vested | (78,000 | ) |  | 3.54 |
Balance, September 29, 2012 | 2,881,116 |  |  | $ | 4.20 |
Stock-Based Compensation The following table summarizes stock-based compensation expense within each of the categories below as it relates to non-vested restricted common stock awards for the nine months ended September 29, 2012 and September 24, 2011 (no tax benefits were recognized):
| Nine Months Ended
| September 29, 2012 |  | September 24, 2011
Cost of product revenues | $ | 390,702 |  |  | $ | 432,816 |
Research and development | 271,297 |  |  | 417,698 |
Selling, general and administrative | 3,111,307 |  |  | 1,326,306 |
Total | $ | 3,773,306 |  |  | $ | 2,176,820 |
Total unrecognized compensation expense for non-vested restricted common stock as of September 29, 2012 totals $5.5 million and is expected to be recognized over a weighted average period of 2 years.

X
- Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration