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Share-based Compensation (Tables) | 9 Months Ended
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Oct. 03, 2021
Share-based Payment Arrangement [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 January 3, 2021 |  |  | 742,800 |  |  | $ | 4.62 |  |  |  |  |  |  |
Exercised |  |  | (318,275 | ) |  |  | 5.67 |  |  |  |  |  |  |
Outstanding at October 3, 2021 |  |  | 424,525 |  |  | $ | 3.84 |  |  |  | 7.56 |  |  | $ | 8,606,225 |
Exercisable at October 3, 2021 |  |  | 58,625 |  |  | $ | 6.72 |  |  |  | 6.05 |  |  | $ | 1,019,545 |
Vested and Expected to Vest at October 3, 2021 |  |  | 419,068 |  |  | $ | 3.85 |  |  |  | 7.55 |  |  | $ | 8,489,154 |
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 |  |  | 39 Weeks Ended |
|  | October 3, 2021 |  |  | September 27, 2020 |  |  | October 3, 2021 |  |  | September 27, 2020 |
Risk-free interest rate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 0.9 | %
Expected term |  |  | — |  |  |  | — |  |  |  | — |  |  | 5.7 years |
Expected volatility |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 63.0 | %
Expected dividend yield |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
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 January 3, 2021 |  |  | 591,325 |  |  | $ | 3.79 |
Granted |  |  | 248,550 |  |  |  | 15.61 |
Vested |  |  | (268,550 | ) |  |  | 4.83 |
Forfeited |  |  | (15,655 | ) |  |  | 6.16 |
Balance at October 3, 2021 |  |  | 555,670 |  |  | $ | 8.51 |
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 January 3, 2021 |  |  | 41,160 |  |  | $ | 1.91 |
Granted |  |  | 2,614 |  |  |  | 28.69 |
Dividend reinvestments |  |  | 14,841 |  |  |  | 27.46 |
Vested |  |  | (40,000 | ) |  |  | 2.28 |
Dividend reinvestments vested |  |  | (15,975 | ) |  |  | 25.98 |
Balance at October 3, 2021 |  |  | 2,640 |  |  | $ | 20.86 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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