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Share-based Compensation (Tables)
6 Months Ended
Jun. 28, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Share Option Awards

A summary of the status of the Company’s share option awards is presented below:

 

 

 

Shares

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual

Life

(In Years)

 

 

Aggregate

Intrinsic

Value

 

Outstanding at December 29, 2019

 

 

523,150

 

 

$

5.91

 

 

 

 

 

 

 

 

 

Granted

 

 

257,000

 

 

 

2.23

 

 

 

 

 

 

 

 

 

Forfeited or Expired

 

 

(5,750

)

 

 

11.52

 

 

 

 

 

 

 

 

 

Outstanding at June 28, 2020

 

 

774,400

 

 

$

4.65

 

 

 

8.45

 

 

$

 

Exercisable at June 28, 2020

 

 

216,015

 

 

$

7.36

 

 

 

7.17

 

 

$

 

Vested and Expected to Vest at June 28, 2020

 

 

760,262

 

 

$

4.68

 

 

 

8.43

 

 

$

 

Weighted-Average Assumptions Used to Estimate the Fair Value of Each Share Option Award

The fair value of each share option award on the date of grant is estimated using the Black-Scholes method based on the following weighted-average assumptions:

 

 

 

13 Weeks Ended

 

 

26 Weeks Ended

 

 

 

June 28,

2020

 

 

June 30,

2019

 

 

June 28,

2020

 

 

June 30,

2019

 

Risk-free interest rate

 

 

 

 

 

 

 

 

0.9

%

 

 

2.6

%

Expected term

 

 

 

 

 

 

 

5.7 years

 

 

5.7 years

 

Expected volatility

 

 

 

 

 

 

 

 

63.0

%

 

 

53.0

%

Expected dividend yield

 

 

 

 

 

 

 

 

 

 

 

4.9

%

Summary of Nonvested Share Awards Activity

A summary of the status of the Company’s nonvested share awards is presented below:

 

 

 

Shares

 

 

Weighted-

Average Grant-

Date Fair

Value

 

Balance at December 29, 2019

 

 

532,524

 

 

$

6.33

 

Granted

 

 

321,600

 

 

 

1.69

 

Vested

 

 

(240,424

)

 

 

6.57

 

Forfeited

 

 

(19,895

)

 

 

4.47

 

Balance at June 28, 2020

 

 

593,805

 

 

$

3.79

 

A summary of the status of the Company’s nonvested share unit awards is presented below:

 

 

 

Units

 

 

Weighted-

Average Grant-

Date Fair

Value

 

Balance at December 29, 2019

 

 

75,413

 

 

$

1.81

 

Granted

 

 

40,000

 

 

$

2.28

 

Dividend reinvestments

 

 

10,940

 

 

 

3.23

 

Vested

 

 

(72,464

)

 

 

2.07

 

Dividend reinvestments vested

 

 

(6,703

)

 

 

3.23

 

Balance at June 28, 2020

 

 

47,186

 

 

$

1.94