Stock Plans (Tables)

12 Months Ended

Jan. 02, 2016

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of each of these option awards is estimated on the date of grant using the Black-Scholes option pricing model with the weighted average assumptions noted in the following table. Expected volatility is based on the historical volatility of the Company’s stock. Since the Company’s option exercise history is limited, it has estimated the expected term of these option grants to be the midpoint between the vesting period and the contractual term of each award. The risk free interest rate is based on the U.S. Treasury yield curve in effect on the date of grant which most closely corresponds to the expected term of the Time Vesting Options. The dividend yield is based on our historic average dividend yield. The Company did not grant any Time Vesting Options in fiscal 2014.


	January 2, 2016	January 3, 2015	December 28, 2013
Dividend yield	0.0%	0.0%	0.8%
Volatility	41.0%	0.0%	36.5%
Risk-free interest rate	1.84% - 1.89%	0% - 0%	1.3% - 2.2%
Expected term (years)	6.0	0.0	6.5

Schedule of Share-based Compensation, Stock Options, Activity

A summary of all option activity under the Stock Plans and the Winfrey Option (see Note 3 for additional disclosure regarding the Winfrey Option) for the year ended January 2, 2016 is presented below:


	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (Yrs.)		Aggregate Intrinsic Value
Outstanding at January 3, 2015		3,250		$	30.72
Granted		4,572			6.61
Exercised		(4	)		22.67
Exchanged		(1,700	)		24.68
Cancelled		(788	)		31.94

Outstanding at January 2, 2016		5,330		$	11.79		9.2	$	73,260

Exercisable at January 2, 2016		3,916		$	10.62		9.3	$	55,772

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

A summary of RSU activity under the Stock Plans for the year ended January 2, 2016 is presented below:


	Shares			Weighted-Average Grant-Date Fair Value
Outstanding at January 3, 2015		838		$	27.71
Granted		780		$	5.55
Vested		(35	)	$	51.18
Forfeited		(217	)	$	26.25

Outstanding at January 2, 2016		1,366		$	27.71

Special Performance Based Options Awards

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The expected term represents the period from the grant date to the end of the five year performance period. Compensation expense on T&P Vesting Options is recognized ratably over the three year required service period as this period is longer than the derived service period calculated by the Monte Carlo simulation.


	January 2, 2016	January 3, 2015	December 28, 2013
Dividend yield	0.0%	0.0%	0.0%
Volatility	40.5%	37.8%	36.5%
Risk-free interest rate	1.6%	1.4% - 1.8%	2%
Expected term (years)	5.0	5.0	5.0