SHARE-BASED COMPENSATION

3 Months Ended

Mar. 29, 2020

Share-based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION

Stock Options and Restricted Stock

For the thirteen week periods ended March 29, 2020 and March 31, 2019, the Company recognized $0.2 million and $0.3 million of compensation expense related to stock awards, respectively. Unamortized share-based compensation expense as of March 29, 2020 amounted to $1.5 million which is expected to be recognized over the next 2.5 years.

A summary of stock option and restricted stock activity is presented as follows:



	Number of Shares	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life	Total Intrinsic Value of Awards (in thousands)
Awards outstanding at December 29, 2019	582,845	$	18.32	7.5	$	2,793
Awards outstanding at March 29, 2020	582,845	$	18.32	7.3	$	241

Awards exercisable at December 29, 2019	313,645	$	16.05	6.8	$	1,991
Awards exercisable at March 29, 2020	326,395	$	16.45	6.7	$	85



	Number of Shares	Weighted Average Grant Date Fair Value
Nonvested outstanding at December 29, 2019	269,200	$	20.96
Nonvested outstanding at March 29, 2020	256,450	$	20.69

For the thirteen week period ended March 31, 2019, the Company issued 4,493 shares of common stock upon the cashless exercise of 11,840 stock options.

Included in awards outstanding are 18,000 and 20,250 shares of restricted stock, at a grant date price per share of $28.61, issued under the 2013 Plan as of March 29, 2020 and December 29, 2019, respectively. For the thirteen week periods ended March 29, 2020 and March 31, 2019, the Company recognized $0.1 million of compensation expense related to restricted stock.

Warrant Activity

For the thirteen week periods ended March 29, 2020 and March 31, 2019, the Company did not recognize compensation cost related to warrants. There was no unamortized stock compensation expense to be recognized as of March 29, 2020.

A summary of warrant activity is presented as follows:



	Number of Shares	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life	Total Intrinsic Value of Options (in thousands)
Warrants outstanding at December 29, 2019	64,482	$	13.84	0.8	$	473
Warrants outstanding at March 29, 2020	64,482	$	13.84	0.5	$	—

Warrants exercisable at December 29, 2019	64,482	$	13.84	0.8	$	473
Warrants exercisable at March 29, 2020	64,482	$	13.84	0.5	$	—

There were no nonvested warrants outstanding at March 29, 2020 and December 29, 2019.

For the thirteen week period ended March 31, 2019, the Company issued 423 shares of common stock upon the cashless exercise of 1,020 warrants.

The intrinsic value in the tables above is the amount by which the market value of the underlying stock exceeded the exercise price of outstanding options or warrants, before applicable income taxes and represents the amount holders would have realized if all in-the-money options or warrants had been exercised on the last business day of the period indicated.