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STOCK-BASED COMPENSATION | 6 Months Ended
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Jul. 02, 2017
Performance Shares, Stock Options, Other Forms Of Compensation And Common Share Repurchaces [Abstract] |
Performance Shares, Stock Options, Other Forms of Compensation and Common Share Repurchases [Text Block] | (10) Stock-based Compensation Effective May 5, 2015, the Company adopted the 2015 Equity Plan (the “2015 Plan”), pursuant to which the Company may grant stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance stock units and other stock and cash awards to eligible participants. The Company also maintains an Amended and Restated 2005 Stock Incentive Plan (the “2005 Plan”). Together, the 2015 Plan and 2005 Plan are referred to herein as the “Plans.” Under the 2015 Plan, an aggregate of 78,864 shares of the Company’s common stock remained unreserved and available for issuance at July 2, 2017. The 2005 Plan prohibits the granting of incentives after May 12, 2015, the tenth anniversary of the date such Plan was approved by the Company’s shareholders. Nonetheless, the 2005 Stock Incentive Plan will remain in effect until all outstanding incentives granted thereunder have either been satisfied or terminated. The Company recognized stock-based compensation expense in its consolidated statements of operations for the three and six months ended July 2, 2017 and July 3, 2016, respectively, as follows:
|  | Three Months Ended |  | Six Months Ended |
|  | July 2, |  | July 3, |  | July 2, |  | July 3, |
(in thousands) |  | 2017 |  | 2016 |  | 2017 |  | 2016 |
Stock options(1) |  | $ | 16 |  | $ | 121 |  | $ | 116 |  | $ | 53 |
Restricted stock |  |  | 8 |  |  | 15 |  |  | 15 |  |  | 30 |
|  | $ | 24 |  | $ | 136 |  | $ | 131 |  | $ | 83 |
| (1) |  | The three months ended July 2, 2017 includes the recapture of previously recorded stock-based compensation due to one of the Company’s former directors declining to stand for reelection to the Board. The six months ended July 3, 2016 includes the recapture of previously recorded stock-based compensation due to the departure of the Company’s former Chief Financial Officer.
The compensation expense for stock option grants is recognized in general and administrative expense in the Company’s consolidated statements of operations through the applicable service period. Other options granted to certain non-officer employees vest in equal annual installments over a period of four years and expire either five or ten years from the grant date. Compensation expense equal to the grant date fair value is generally recognized for these awards over the vesting period. Options granted to certain non-employees in exchange for future services either vest in monthly installments over a period of approximately two years or are granted monthly and vest immediately, and expire five years from the grant date. Expense equal to the current fair value is recognized over the vesting period, with the value being marked to market in each accounting period for any unvested portions of the awards. The fair value of each stock option is estimated on the date of grant using the Black-Scholes valuation method with the assumptions noted in the table below. Due to a lack of recent historical share option exercise experience, the Company uses a simplified method for estimating the expected life, as outlined in Accounting Standards Codification 718, calculated using the following formula: (vesting term + original contract term)/2. Expected volatilities are based on the movement of the Company’s common stock price over the most recent historical period equivalent to the expected life of the option. The risk-free interest rate for periods within the contractual life of the option is based on the U.S. maturities over the expected life at the time of grant. Information regarding the Company’s stock options is summarized below:
|  |  |  |  |  |  | Weighted
|  |  |  |  |  |  | Average
|  |  |  |  |  |  | Remaining
|  | Number of |  | Weighted Average |  | Contractual
(number of options in thousands) |  | Options |  | Exercise Price |  | Life in Years
Options outstanding at January 1, 2017 |  | 686 |  | $ | 9.15 |  | 5.7
Granted |  | 55 |  |  | 4.29 |  |
Exercised |  | — |  |  | — |  |
Forfeited or expired |  | (112) |  |  | 12.34 |  |
Options outstanding at July 2, 2017 |  | 629 |  | $ | 8.16 |  | 5.2
|  | Six Months Ended |  |  |
|  | July 2, 2017 |  | Fiscal 2016 |
Weighted-average fair value of options granted during the period |  | $ | 2.55 |  | $ | 1.97 |
Expected life (in years) |  |  | 5.0 |  |  | 5.2 |
Expected stock volatility |  |  | 60.47 | % |  | 39.98 | %
Risk-free interest rate |  |  | 2.2 | % |  | 1.2 | %

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- Definition Performance Shares, Stock Options, Other Forms Of Compensation And Common Share Repurchaces [Abstract] + References No definition available. + Details
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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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