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Share-based Compensation (Tables) | 6 Months Ended
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Jul. 03, 2022
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 2, 2022 |  |  | 383,035 |  |  | $ | 3.96 |  |  |  |  |  |  |
Granted |  |  | 10,000 |  |  |  | 13.35 |  |  |  |  |  |  |
Exercised |  |  | (67,750 | ) |  |  | 4.03 |  |  |  |  |  |  |
Forfeited |  |  | (9,600 | ) |  |  | 2.81 |  |  |  |  |  |  |
Outstanding at July 3, 2022 |  |  | 315,685 |  |  | $ | 4.27 |  |  |  | 7.01 |  |  | $ | 2,287,308 |
Exercisable at July 3, 2022 |  |  | 114,059 |  |  | $ | 4.11 |  |  |  | 6.01 |  |  | $ | 787,493 |
Vested and Expected to Vest at July 3, 2022 |  |  | 314,718 |  |  | $ | 4.27 |  |  |  | 7.00 |  |  | $ | 2,281,141 |
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 |
|  | July 3, 2022 |  |  | July 4, 2021 |  |  | July 3, 2022 |  |  | July 4, 2021 |
Risk-free interest rate |  |  | 2.7 | % |  |  | — |  |  |  | 2.7 | % |  |  | — |
Expected term |  | 6.5 years |  |  |  | — |  |  | 6.5 years |  |  |  | — |
Expected volatility |  |  | 80.8 | % |  |  | — |  |  |  | 80.8 | % |  |  | — |
Expected dividend yield |  |  | 7.4 | % |  |  | — |  |  |  | 7.4 | % |  |  | — |
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 2, 2022 |  |  | 551,700 |  |  | $ | 8.51 |
Granted |  |  | 284,630 |  |  |  | 15.03 |
Vested |  |  | (216,700 | ) |  |  | 8.19 |
Forfeited |  |  | (25,210 | ) |  |  | 11.19 |
Balance at July 3, 2022 |  |  | 594,420 |  |  | $ | 11.64 |

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- Definition Tabular disclosure of the changes in outstanding nonvested shares. + 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 (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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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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