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EMPLOYEE BENEFIT PLANS | 6 Months Ended
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Jul. 02, 2022
Share-Based Payment Arrangement [Abstract] |
EMPLOYEE BENEFIT PLANS | EMPLOYEE BENEFIT PLANS Stock-Based Compensation Plans. The following table summarizes stock options and stock appreciation rights activity during the Second Quarter:
Stock Appreciation Rights |  | Shares |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value
|  | (in Thousands) |  |  |  | (in Years) |  | (in Thousands)
Outstanding at April 2, 2022 |  | 206 |  |  | $ | 53.67 |  |  | 1.7 |  | $ | — |
Granted |  | — |  |  | — |  |  |  |  |
Exercised |  | — |  |  | — |  |  |  |  | — |
Forfeited or expired |  | (7) |  |  | 123.51 |  |  |  |  |
Outstanding at July 2, 2022 |  | 199 |  |  | 51.21 |  |  | 0.8 |  | — |
Exercisable at July 2, 2022 |  | 199 |  |  | $ | 51.21 |  |  | 0.8 |  | $ | — |
The aggregate intrinsic value shown in the table above is based on the exercise price for outstanding and exercisable options/rights at July 2, 2022. Stock Appreciation Rights Outstanding and Exercisable. The following tables summarize information with respect to stock options and stock appreciation rights outstanding and exercisable at July 2, 2022:
Stock Appreciation Rights Outstanding |  | Stock Appreciation Rights Exercisable
Range of Exercise Prices |  | Number of Shares |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term |  | Number of Shares |  | Weighted- Average Exercise Price
|  | (in Thousands) |  |  |  | (in Years) |  | (in Thousands) |  |
$29.49 - $47.99 |  | 146 |  |  | $ | 40.92 |  |  | 0.90 |  | 146 |  |  | $ | 40.92 |
$55.04 - $82.55 |  | 48 |  |  | 77.43 |  |  | 0.60 |  | 48 |  |  | 77.43 |
$101.37 |  | 5 |  |  | 101.37 |  |  | 0.04 |  | 5 |  |  | 101.37 |
Total |  | 199 |  |  | $ | 51.21 |  |  | 0.80 |  | 199 |  |  | $ | 51.21 |
Restricted Stock Units and Performance Restricted Stock Units. The following table summarizes restricted stock unit and performance restricted stock unit activity during the Second Quarter:
Restricted Stock Units and Performance Restricted Stock Units |  | Number of Shares |  | Weighted-Average Grant Date Fair Value Per Share
|  | (in Thousands) |  |
Nonvested at April 2, 2022 |  | 1,802 |  |  | $ | 9.91 |
Granted |  | 1,244 |  |  | 10.69 |
Vested |  | (904) |  |  | 10.20 |
Forfeited |  | (126) |  |  | 10.98 |
Nonvested at July 2, 2022 |  | 2,016 |  |  | $ | 10.16 |
The total fair value of restricted stock units vested was $9.2 million during the Second Quarter. Vesting of performance restricted stock units is based on achievement of operating margin growth and achievement of sales growth and operating margin targets in relation to the performance of a certain identified peer group. Long-Term Incentive Plans. On the date of the Company’s annual stockholders meeting, each non-employee director automatically receives a grant of restricted stock units with a fair market value of approximately $130,000, which vest 100% on the earlier of one year from the date of grant or the date of the Company's next annual stockholders meeting, provided such director is providing services to the Company or a subsidiary of the Company on that date. Beginning with the grant in fiscal year 2021, non-employee directors could elect to defer receipt of all or a portion of the restricted stock units. As of July 2, 2022, the Company had 30 thousand shares of restricted stock units that had vested but were deferred in connection with non-employee director compensation. In addition, beginning in fiscal year 2021, non-employee directors may defer the cash portion of their annual fees. Each participant may also elect to have the cash portion of his or her annual fees for each calendar year treated as if invested in units of common stock of the Company.

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