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Stock-Based Compensation | 9 Months Ended
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Sep. 29, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Stock-Based Compensation | Note 12 — Stock-Based Compensation Stock-based compensation expense included in the Company's consolidated financial statements for the three and nine months ended September 29, 2019 and September 30, 2018 was as follows (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 29, 2019 |  |  | September 30, 2018 |  |  | September 29, 2019 |  |  | September 30, 2018 |
Cost of revenue |  | $ | 15 |  |  | $ | 30 |  |  | $ | 59 |  |  | $ | 99 |
Research and development |  |  | 521 |  |  |  | 220 |  |  |  | 1,708 |  |  |  | 610 |
Selling, general and administrative |  |  | 212 |  |  |  | 266 |  |  |  | 723 |  |  |  | 718 |
Total costs and expenses |  | $ | 748 |  |  | $ | 516 |  |  | $ | 2,490 |  |  | $ | 1,427 |
No stock-based compensation was capitalized during any period presented above. No stock options were granted during the three and nine-month periods ended September 29, 2019 and September 30, 2018. Stock-Based Compensation Award Activity The following table summarizes the activity in the shares available for grant under the 2019 Plan and 2009 Plan during the nine months ended September 29, 2019 (in thousands):
|  | Shares Available for Grants |
|  | 2019 Plan |  |  | 2009 Plan |
Balance at December 30, 2018 |  |  | — |  |  |  | 6,760 |
Authorized |  |  | 5,000 |  |  |  | — |
RSUs granted |  |  | (1,261 | ) |  |  | (3,355 | )
RSUs forfeited or expired |  |  | 198 |  |  |  | 762 |
Options forfeited |  |  | 15 |  |  |  | 20 |
Plan shares expired |  |  | — |  |  |  | (4,187 | )
Balance at September 29, 2019 |  |  | 3,952 |  |  |  | — |
Stock Options The following table summarizes stock options outstanding and stock option activity under the 2009 Plan and the 2019 Plan, and the related weighted average exercise price, for the nine months ended September 29, 2019:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Term |  |  | Aggregate Intrinsic Value |
|  | (in thousands) |  |  |  |  |  |  | (in years) |  |  | (in thousands) |
Balance outstanding at December 30, 2018 |  |  | 3,201 |  |  | $ | 2.18 |  |  |  |  |  |  |  |  |
Forfeited or expired |  |  | (580 | ) |  |  | 1.70 |  |  |  |  |  |  |  |  |
Exercised |  |  | (4 | ) |  |  | 0.78 |  |  |  |  |  |  |  |  |
Balance outstanding at September 29, 2019 |  |  | 2,617 |  |  | $ | 2.29 |  |  |  | 3.70 |  |  | $ | — |
Exercisable at September 29, 2019 |  |  | 2,433 |  |  | $ | 2.40 |  |  |  | 3.46 |  |  | $ | — |
Vested and expected to vest at September 29, 2019 |  |  | 2,603 |  |  | $ | 2.30 |  |  |  | 3.69 |  |  | $ | — |
The aggregate intrinsic value in the table above represents the total pretax intrinsic value, based on the Company's closing stock price of $0.35 as of September 29, 2019, which would have been received by the option holders had all option holders exercised their options as of that date. The total intrinsic value of options exercised during the three months ended September 29, 2019 and September 30, 2018 was approximately $0 and $5,000, respectively. The total intrinsic value of options exercised during the nine months ended September 29, 2019 and September 30, 2018 was approximately $0 as the stock price was lower than exercise price and $5,000, respectively. Total cash received from employees as a result of employee stock option exercises during the nine months ended September 29, 2019 and September 30, 2018 was approximately $3,600 and $5,000, respectively. The Company settles employee stock option exercises with newly issued common shares. In connection with these exercises, there was no tax benefit realized by the Company due to the Company's current loss position. Total stock-based compensation related to stock options was approximately $24,000 and $30,000 for the three months ended September 29, 2019 and September 30, 2018, respectively, and approximately $73,000 and $102,000 for the nine months ended September 29, 2019 and September 30, 2018, respectively. Restricted Stock Units The Company grants restricted stock units or RSUs, to employees and directors with various vesting terms. RSUs entitle the holder to receive, at no cost, one common share for each RSU as it vests. In general, the Company's policy is to withhold shares in settlement of employee tax withholding obligations upon the vesting of RSUs. The stock-based compensation related to RSUs was approximately $724,000 and $435,000 for the three months ended and approximately $2.4 million and $1.2 million for nine months ended September 29, 2019 and September 30, 2018, respectively. As of September 29, 2019 and September 30, 2018, there was approximately $2.7 million and $2.1 million, respectively, in unrecognized compensation expense related to RSUs. The remaining unrecognized stock-based compensation expense is expected to be recorded over a weighted average period of 1.7 years. A summary of activity for the Company's RSUs for the nine months ended September 29, 2019 is as follows:
|  | RSUs & PRSUs Outstanding |
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
|  | (in thousands) |  |  |  |  |
Nonvested at December 30, 2018 |  |  | 2,570 |  |  | $ | 1.23 |
Granted |  |  | 4,615 |  |  |  | 0.81 |
Vested |  |  | (1,552 | ) |  |  | 0.64 |
Forfeited |  |  | (415 | ) |  |  | — |
Nonvested at September 29, 2019 |  |  | 5,218 |  |  | $ | 1.10 |
Employee Stock Purchase Plan As of September 29, 2019, 873,000 shares remained available for issuance under the 2009 ESPP. For the three months ended September 29, 2019 and September 30, 2018, the Company recorded stock-based compensation expense related to the 2009 ESPP of approximately $0 and $51,000, respectively. For the nine months ended September 29, 2019 and September 30, 2018, the Company recorded stock-based compensation expense related to the 2009 ESPP of approximately $60,000 and $168,000, respectively. The weighted average estimated fair value, as defined by the amended authoritative guidance, of rights issued pursuant to the Company's 2009 ESPP during the third quarter ended September 29, 2019 and September 30, 2018, was $0 and $0.47, respectively, per right, respectively. The fair value of rights issued pursuant to the Company's 2009 ESPP was estimated on the commencement date of each offering period using the following weighted average assumptions:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 29, 2019 |  |  | September 30, 2018 |  |  | September 29, 2019 |  |  | September 30, 2018 |
Expected term (months) |  |  | — |  |  |  | 6.00 |  |  |  | 6.00 |  |  |  | 6.00 |
Risk-free interest rate |  |  | — |  |  |  | 2.09 | % |  |  | 2.40 | % |  |  | 2.09 | %
Volatility |  |  | — |  |  |  | 44.76 | % |  |  | 53.77 | % |  |  | 44.76 | %
Dividend yield |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
As of September 29, 2019, there was no unrecognized stock-based compensation expense relating to the Company's 2009 ESPP. ESPP grants were suspended until the extension of the term of 2009 ESPP is ratified by the stockholders in the annual general meeting to be held in 2020.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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