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Stock Incentive Plans (Tables)

12 Months Ended

Dec. 27, 2020

Share-based Payment Arrangement [Abstract]

Summary of status of the Company's stock option plans

The tables below summarize the status of the Company's stock option plans (in thousands, except exercise price):

						Stock Options
						Shares						Weighted Average Exercise Price
Outstanding, December 29, 2019						288						$	58.33
Granted						241						12.61
Forfeited/expired						(54)						46.89
Exercised						(5)						21.61
Outstanding, December 27, 2020						470						$	36.64

						Shares						Weighted Average Exercise Price						Weighted Average Remaining Years of Contractual Life						Aggregate Intrinsic Value
Outstanding as of December 27, 2020						470						$	36.64					6.78						$	1,714
Vested and expected to vest as of December 27, 2020(1)						429						38.82						6.54						1,414
Exercisable as of December 27, 2020						223						$	59.74					4.25						$	—

———————————————————

(1)    The expected to vest options are the result of applying the pre-vesting forfeiture rate assumption to total outstanding options. The Company applies estimated forfeiture rates that are derived from our historical forfeitures of similar awards.

Schedule of average assumptions used in estimation of fair value of options

The estimated fair value of each option granted is calculated using the Black-Scholes multiple option-pricing model, and expense is recognized straight line over the vesting period. No options were granted during 2019. The average assumptions used in the model for the fiscal years ended December 27, 2020 and December 30, 2018 were as follows:

			2020									2019									2018
Risk-free interest rate			0.5			%						—			%						2.5			%
Expected years until exercise			4.7									0									3.2
Expected stock volatility			61.0			%						—			%						43.4			%
Dividend yield			—			%						—			%						—			%
Weighted average Black-Scholes fair value per share at date of grant			$	6.28								$	—								$	16.56
Total intrinsic value of options exercised (in thousands)			$	30								$	20								$	390

Summary of the status of the Company's restricted stock units

The table below summarizes the status of the Company's time-based RSUs under the 2017 and 2007 Stock Plans (shares in thousands):

						Restricted Stock Units
						Shares						Weighted Average Grant-Date Fair Value (per share)
Outstanding, December 29, 2019						218						$	35.62
Awarded						239						12.98
Forfeited						(54)						36.80
Vested						(56)						36.45
Outstanding, December 27, 2020						347						$	19.74

Summary of status of Company's performance based stock units

The table below summarizes the status of the Company's performance stock units under the 2017 Stock Plan (shares in thousands:

						Performance Stock Units
						Shares						Weighted Average Grant-Date Fair Value (per share)
Outstanding, December 29, 2019						102						$	36.23
Awarded						256						18.09
Forfeited						(52)						34.78
Vested						(9)						49.03
Outstanding, December 27, 2020						297						$	20.52

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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-Name Accounting Standards Codification
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Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding performance-based awards that are fully vested and expected to vest. Includes, but is not limited to, unvested awards for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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