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Stock Plans (Tables)
12 Months Ended
Dec. 29, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
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 common stock. Since the Company’s option exercise history is limited, it has estimated the expected term of these options (other than the options with a seven-year term) to be the midpoint between the vesting period and the contractual term of each option. For options with a seven-year contractual term, the expected term is equal to 7 years. 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 the Company’s historic average dividend yield.

 

 

 

 

December 30,

 

 

December 31,

 

 

 

 

2017

 

 

2016

 

Dividend yield

 

 

0.0%

 

 

0.0%

 

Volatility

 

 

51.3%-51.7%

 

 

49.6%-51.4%

 

Risk-free interest rate

 

 

2.17%

 

 

1.24%-2.26%

 

Expected term (years)

 

 

6.0-7.0

 

 

 

6.0

 

Summary of Option Activity Under Stock Plans, Inducement Option and Winfrey Option

A summary of all option activity under the Stock Plans and with respect to the Inducement Option and the previously disclosed Winfrey Option for the fiscal year ended December 29, 2018 is presented below:  

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

Average

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

 

 

 

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

 

 

Shares

 

 

Price

 

 

Life (Yrs.)

 

 

Value

 

Outstanding at December 30, 2017

 

 

5,884

 

 

$

18.17

 

 

 

 

 

 

 

 

 

Granted

 

 

0

 

 

$

0.00

 

 

 

 

 

 

 

 

 

Exercised

 

 

(2,037

)

 

$

11.89

 

 

 

 

 

 

 

 

 

Cancelled

 

 

(58

)

 

$

9.21

 

 

 

 

 

 

 

 

 

Outstanding at December 29, 2018

 

 

3,789

 

 

$

21.69

 

 

 

6.2

 

 

$

84,871

 

Exercisable at December 29, 2018

 

 

2,790

 

 

$

13.27

 

 

 

6.5

 

 

$

81,774

 

Schedule of Share-based Compensation, Restricted Stock Units Award Activity A summary of RSU activity under the Stock Plans for the fiscal year ended December 29, 2018 is presented below:

 

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

 

Grant-Date Fair

 

 

 

Shares

 

 

Value

 

Outstanding at December 30, 2017

 

 

1,077

 

 

$

24.22

 

Granted

 

 

274

 

 

$

              63.91

 

Vested

 

 

(379

)

 

$

             22.38

 

Forfeited

 

 

(91

)

 

$

             21.07

 

Outstanding at December 29, 2018

 

 

881

 

 

$

37.91

 

 

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

The fair value of PSUs is determined using the closing market price of the Company’s common stock on the date of grant. A summary of PSU activity under the 2014 Plan for the fiscal year ended December 29, 2018 is presented below:

 

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

 

Grant-Date Fair

 

 

 

Shares

 

 

Value

 

Outstanding at December 30, 2017

 

 

330

 

 

$

19.42

 

Granted

 

 

81

 

 

$

80.18

 

Vested

 

 

0

 

 

$

0

 

Forfeited

 

 

(31

)

 

$

17.73

 

Outstanding at December 29, 2018

 

 

380

 

 

$

32.56