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Note 8 - Shareholders' Equity
 6 Months Ended
Jun. 28, 2015
Note 8 - Shareholders Equity  
Shareholders' Equity

 

8.SHAREHOLDERS’ EQUITY

 

We recorded non-cash stock compensation expense in each period as follows:

 

   Three-month periods ended  Six-month periods ended
   June 28,  June 29,  June 28,  June 29,
   2015  2014  2015  2014
Stock options  $136   $164   $256   $290 
Restricted stock grants:                    
   Employee   24    —      48    —   
   President and CEO   —      34    —      83 
Board of Directors compensation –                    
   stock grant   —      55    —      110 
     Total  $160   $253   $304   $483 

 

These are more fully discussed as follows:

 

a. Stock Options

 

We have stock options outstanding from various stock-based employee compensation plans for which we record compensation cost relating to share-based payment transactions in our financial statements. As of June 28, 2015, there was $461 of total unrecognized compensation cost related to outstanding stock options, which is expected to be recognized over a weighted average period of 1.2 years.

 

The following table summarizes stock option activity for the six-month period ended June 28, 2015:

 

   Number of Shares  Weighted Average Exercise Price  Weighted Average Remaining Contractual Term (years)  Aggregate Intrinsic Value
Outstanding at January 1, 2015   2,056,122   $6.66           
Granted   277,000    3.72           
Exercised   (2,667)   3.22           
Forfeited or expired   (67,499)   12.30           
Outstanding at June 28, 2015   2,262,956     6.13    3.81   $369 
                    
Vested and expected to vest at June 28, 2015   2,115,226    6.30    3.67   $314 
Exercisable at June 28, 2015   1,337,295   $5.16    2.88   $153 

 

Cash received from stock option exercises under our stock-based compensation plans for the three-month periods ended June 28, 2015 and June 29, 2014 was $0 and $11, respectively. Cash received from stock option exercises for the six-month periods ended June 28, 2015 and June 29, 2014 was $9 and $11, respectively.

 

b. Restricted Stock Awards

 

Our President and Chief Executive Officer holds 60,000 unearned, unvested restricted stock units at June 28, 2015. In addition, 49,200 shares of restricted stock were awarded to certain of our employees in September, 2014. There is $82 of unrecognized compensation cost related to these restricted shares at June 28, 2015.