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Note 12 - Employee Stock Plans | 12 Months Ended
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Jan. 02, 2022
Notes to Financial Statements |
Disclosure of Employee Stock Ownership Plans [Text Block] | NOTE 12-EMPLOYEE STOCK PLANS 2009 Stock Plan On April 24, 2019, 2009 Plan, the Company's share-based compensation plane for its employees, was replaced by the 2019 Stock Plan ("2019 Plan") with an extended term of ten years through March 15, 2028. The remaining balance of available shares under the 2009 Plan of 299,070 were cancelled as of April 24, 2019. 2019 Stock Plan On April 24, 2019, the Company’s Board of Directors and shareholders approved the 2019 Stock Plan ("2019 Plan") to replace the 2009 stock Plan ("2009 Plan"). Under the 2019 Plan, 357,143 shares of common stock are available for grants, plus any shares subject to any outstanding options or other awards granted under the Company’s 2009 Plan that expire, are forfeited, cancelled, returned to the Company for failure to satisfy vesting requirements, settled for cash or otherwise terminated without payment being made thereunder. As of January 2, 2022, approximately 593,481 shares of the Company’s common stock were reserved for issuance under the 2019 Plan. Options typically vest at a rate of 25% one year after the vesting commencement date, and one forty-eighth for each month of service thereafter. RSUs typically vest at a rate of 25% one year after the vesting commencement date, and one eighth every six months thereafter. The Company may implement different vesting schedules in the future with respect to any new equity awards. Employee Stock Purchase Plan The 2009 Employee Stock Purchase Plan ("2009 ESPP") was adopted in March 2009. The 2009 ESPP was amended by the Board of Directors in January 2015 and in February 2017, and was approved by the Company’s stockholders on April 23, 2015 and April 26, 2017, to reserve an additional 71,429 and 107,143 shares of common stock, respectively, for issuance under the 2009 ESPP. On May 6, 2019, the Board of Directors approved the extension of the term of the 2009 ESPP to March 5, 2029. Additionally, the shares available under the 2009 ESPP were increased from 342,857 to 642,857 shares of common stock. This extension and increase in shares under the ESPP plan were subsequently ratified by the Company's stockholders. As of January 2, 2022, 258,321 shares were reserved for issuance under the 2009 ESPP. The 2009 ESPP provides for six month offering periods. Participants purchase shares through payroll deductions of up to 20% of an employee’s total compensation (maximum of 1,429 shares per offering period). The 2009 ESPP permits the Board of Directors to determine, prior to each offering period, whether participants purchase shares at: (i) 85% of the fair market value of the common stock at the end of the offering period; or (ii) 85% of the lower of the fair market value of the common stock at the beginning or the end of an offering period. The Board of Directors has determined that, until further notice, future offering periods will be made at 85% of the lower of the fair market value of the common stock at the beginning or the end of an offering period.

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