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STOCK-BASED COMPENSATION | 12 Months Ended
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Jan. 01, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION We record stock-based compensation expense for restricted and unrestricted stock awards, performance share units, and shares purchased under an employee stock purchase plan. Our 2016 Omnibus Incentive Plan, effective May 11, 2016 (“Incentive Plan"), provides for the issuance or delivery of up to 1.54 million shares of our common stock over the full term of the Incentive Plan. Restricted and unrestricted stock awards and performance share units Under the Incentive Plan, restricted stock awards are granted to executive officers and key employees and vest annually over three or four years. Unrestricted stock awards granted to our Board of Directors vest immediately. Restricted and unrestricted stock-based compensation expense is calculated based on the grant-date market value. We recognize compensation expense on a straight-line basis over the vesting period, net of estimated forfeitures. Performance share units have been granted to executive officers and certain key employees. Vesting of the performance share units is contingent upon the achievement of revenue and profitability growth goals at the end of each three-year performance period. Each performance share unit is equivalent to one share of common stock. Compensation expense is calculated based on the grant-date market value of our stock and is recognized ratably over the performance period for the performance share units which are expected to vest. Our estimate of the performance units expected to vest is reviewed and adjusted as appropriate each quarter. Restricted and unrestricted stock awards and performance share units activity for the years ended January 1, 2017, was as follows (shares in thousands):
| Shares |  | Weighted- average grant-date price
Non-vested at beginning of period | 1,218 |  |  | $ | 22.63 |
Granted | 602 |  |  | $ | 21.53 |
Vested | (508 | ) |  | $ | 21.02 |
Forfeited | (103 | ) |  | $ | 21.79 |
Non-vested at the end of the period | 1,209 |  |  | $ | 22.76 |
The weighted average grant-date price of restricted and unrestricted stock awards and performance share units granted during the years 2016, 2015, and 2014 was $21.53, $23.03, and $26.02, respectively. As of January 1, 2017, total unrecognized stock-based compensation expense related to non-vested restricted stock was approximately $10.4 million, which is estimated to be recognized over a weighted average period of 1.6 years. As of January 1, 2017, total unrecognized stock-based compensation expense related to performance share units was approximately $1.6 million, which is estimated to be recognized over a weighted average period of 1.6 years. The total fair value of restricted shares vested during 2016, 2015, and 2014 was $6.6 million, $6.2 million, and $4.9 million, respectively. The total fair value of performance shares vested during 2016, 2015, and 2014 was $3.3 million, $4.0 million, and $2.1 million, respectively. Stock options Our Incentive Plan provides for both nonqualified stock options and incentive stock options (collectively, “stock options”) for directors, officers, and certain employees. We issue new shares of common stock upon exercise of stock options. All of our stock options are vested and expire if not exercised within seven years from the date of grant. Stock option activity was de minimis for fiscal years 2016, 2015, and 2014. Employee Stock Purchase Plan Our Employee Stock Purchase Plan (“ESPP”) reserves for purchase 1.0 million shares of common stock. The plan allows eligible employees to contribute up to 10% of their earnings toward the monthly purchase of the Company's common stock. The employee's purchase price is 85% of the lesser of the fair market value of shares on either the first day or the last day of each month. We consider our ESPP to be a component of our stock-based compensation and accordingly we recognize compensation expense over the requisite service period for stock purchases made under the plan. The requisite service period begins on the enrollment date and ends on the purchase date, the duration of which is one month. The following table summarizes transactions under our ESPP from fiscal years 2016, 2015, and 2014 (shares in thousands):
| Shares |  | Average price per share
Issued during fiscal year 2016 | 87 |  |  | $ | 17.51 |
Issued during fiscal year 2015 | 68 |  |  | $ | 20.65 |
Issued during fiscal year 2014 | 64 |  |  | $ | 21.55 |
Stock-based compensation expense Total stock-based compensation expense, which is included in Selling, general and administrative expense on our Consolidated Statements of Operations and Comprehensive Income (Loss), was $9.4 million for fiscal year 2016, and $11.1 million for fiscal years 2015 and 2014, respectively. The related tax benefit was $3.3 million in 2016 and $3.9 million in 2015 and 2014.

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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 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65895303&loc=d3e17540-113929 Reference 2: 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=68057994&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 4: 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 5: 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 6: 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
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