8.	SHAREHOLDERS’ EQUITY

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

	Three-Month Periods E nded				Nine-Month Periods E nded
	Sept. 2 5 ,		Sept. 27 ,		Sept. 2 5 ,		Sept. 2 7 ,
	2016		2015		2016		2015
Stock Options	$	197	$	112	$	525	$	368
Restricted Stock Grants		8		23		30		71
Total	$	205	$	135	$	555	$	439

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 September 25, 2016, there was $666 of total unrecognized compensation cost related to outstanding stock options, which is expected to be recognized over a weighted average period of 1.25 years.

The following table summarizes stock option activity for the nine-month period ended September 25, 2016:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding at January 1, 2016		2,257,969		$	6.30
Granted		346,000			4.71
Exercised		(47,642	)		3.81
Forfeited or Expired		(64,651	)		8.02
Outstanding at Sept. 25, 2016		2,491,676			6.08		3.46	$	246
Vested and Expected to Vest at Sept. 25, 2016		2,347,190			6.17		3.26	$	226
Exercisable at Sept. 25, 2016		1,392,204		$	4.90		2.17	$	168

The following assumptions were used to value stock options granted during the nine months ended September 25, 2016:

Risk-Free Interest Rate	0.89	%
Volatility Factor	48.08	%
Dividends	0.00	%
Weighted Average Expected Life (Years)	2.82

The weighted average grant date fair value of options granted during the nine months ended September 25, 2016 was $2.01.

FASB’s guidance for share-based payments requires cash flows from excess tax benefits to be classified as a part of cash flows from financing activities. Excess tax benefits are realized tax benefits from tax deductions for exercised stock options in excess of the deferred tax asset attributable to stock compensation costs for such stock options. We did not record any excess tax benefits in the first nine months of 2016 or 2015.

Cash received from stock option exercises under our stock-based compensation plans for the three-month periods ended September 25, 2016 and September 27, 2015 was $106 and $19, respectively. Cash received from stock option exercises for the nine-month periods ended September 25, 2016 and September 27, 2015 was $181 and $28, respectively.

b. Restricted Stock Awards

In September 2014, 49,200 shares of restricted stock were awarded to certain of our employees. These units vest over three years and we estimated their weighted average grant date fair value to be $3.24 per share. In September 2016, 15,900 shares of the awarded restricted stock vested and the Company repurchased 4,131 shares to satisfy the statutory tax withholding on shares vested for certain employees. There is $15 of unrecognized compensation cost related to these restricted shares at September 25, 2016.