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STOCK-BASED COMPENSATION | 9 Months Ended
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Sep. 27, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION The fair value of non-vested restricted common stock awards is generally the market value of the Company’s common stock 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. 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 anticipated 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. During the nine months ended September 27, 2014, the Company's 2010 Equity Plan was amended to increase the number of authorized shares by 1.9 million. A summary of stock option award activity under the Equity Award plans as of September 27, 2014 and changes during the nine month period then ended is as follows (all options were vested as of September 27, 2014):
| Nine Months Ended September 27, 2014
| Shares |  | Weighted Average Exercise Price
Balance, December 28, 2013 | 558,850 |  |  | $ | 5.09 |
Options forfeited/canceled | (131,000 | ) |  | 4.97 |
Options exercised | (36,750 | ) |  | 3.75 |
Balance, all exercisable, September 27, 2014 | 391,100 |  |  | $ | 5.26 |
The following table summarizes information about stock options outstanding and exercisable at September 27, 2014:
| Options Outstanding and Exercisable
Range of Exercise Prices | Number Outstanding and Exercisable |  | Weighted Average Exercise Price
$ 3.15—$ 3.50 | 127,500 |  |  | $ | 3.49 |
$ 3.75—$ 3.87 | 163,600 |  |  | 3.75 |
$10.00 | 100,000 |  |  | 10.00 |
| 391,100 |  |  | 5.26 |
Aggregate intrinsic value on September 27, 2014 | $ | 1,700 |  |  |
The weighted average remaining contractual life of the outstanding options is less than one year. The Company has issued warrants to purchase 200,000 shares of the Company’s common stock for $3.49 per share. Non-Vested Restricted Common Stock A summary of the activity for non-vested restricted common stock awards as of September 27, 2014 and changes during the nine month period then ended is presented below:
| Shares |  | Weighted Average Grant Fair Value
Balance, December 28, 2013 | 2,974,148 |  |  | $ | 4.25 |
Granted | 573,000 |  |  | 3.97 |
Forfeited | (50,000 | ) |  | 4.44 |
Vested | (138,000 | ) |  | 3.28 |
Balance, September 27, 2014 | 3,359,148 |  |  | $ | 4.25 |
Included within the non-vested restricted common stock table above is 50,000 awards granted for which the performance conditions have yet to be determined and therefore a grant date has not yet been established for the award. No stock based compensation expense has been recorded relating to this award during the three and nine month period ended September 27, 2014. 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 27, 2014 and September 28, 2013 (no tax benefits were recognized):
| Nine Months Ended
| September 27, 2014 |  | September 28, 2013
Cost of component revenues | $ | 590,467 |  |  | $ | 254,642 |
Research and development | 773,106 |  |  | 258,187 |
Selling, general and administrative | 2,191,881 |  |  | 3,136,075 |
Total | $ | 3,555,454 |  |  | $ | 3,648,904 |
Unrecognized compensation expense for non-vested restricted common stock as of September 27, 2014 totaled $4.7 million and is expected to be recognized over a weighted average period of two years.

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- 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 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 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 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: 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 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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