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STOCK-BASED COMPENSATION
 9 Months Ended
Sep. 24, 2016
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 restricted 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.
Non-Vested Restricted Common Stock
 
Shares
 
Weighted
Average
Grant
Fair
Value
Balance, December 26, 2015
2,192,016

 
$
3.82

Granted
634,500

 
1.88

Forfeited
(59,000
)
 
3.14

Vested
(75,000
)
 
3.60

Balance, September 24, 2016
2,692,516

 
$
3.38


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 24, 2016 and September 26, 2015 (no tax benefits were recognized):
 
Nine Months Ended
 
September 24,
2016
 
September 26,
2015
Cost of component revenues
$
426,357

 
$
620,494

Research and development
378,156

 
669,605

Selling, general and administrative
674,968

 
1,496,395

Total
$
1,479,481

 
$
2,786,494


Unrecognized compensation expense for non-vested restricted common stock as of September 24, 2016 totaled $3.8 million and is expected to be recognized over a weighted average period of approximately two years.