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STOCK-BASED COMPENSATION | 12 Months Ended
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Dec. 31, 2017
Stock-Based Compensation [Abstract] |
Stock-Based Compensation | (9) STOCK-BASED COMPENSATION Effective May 5, 2015, we adopted the 2015 Equity Plan (the “2015 Plan”), pursuant to which we 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. We also maintain an Amended and Restated 2005 Stock Incentive Plan (the “2005 Plan”). The 2005 Plan prohibits the granting of options pursuant to the 2005 plan after May 12, 2015, the tenth anniversary of the date the 2005 Plan was approved by the Company’s shareholders. Nonetheless, the 2005 Plan will remain in effect until all outstanding incentives granted thereunder have either been satisfied or terminated. As of December 31, 2017, there were no shares available for grant pursuant to the 2015 Plan. Stock options granted to employees and directors generally vest over two to five years, in monthly or annual installments, as outlined in each agreement. Options generally expire ten years from the date of grant. Compensation expense equal to the grant date fair value of the options is recognized in general and administrative expense over the applicable service period. Stock options granted to certain non-employees either vest immediately or monthly over a period of two years. Options generally expire ten years from the date of grant. Compensation expense is recognized in general and administrative expense over the applicable service period, and is marked-to-market each period. The incentive compensation of our Chief Executive Officer is tied to increases in our share price and calls for the issuance of freely tradable shares of our common stock upon the achievement of certain milestones. We utilize the Black-Scholes option pricing model when determining the compensation cost associated with stock options issued using the following significant assumptions:
| · |  | Stock price – Published trading market values of our common stock as of the date of grant.
| · |  | Exercise price – The stated exercise price of the stock option.
| · |  | Expected life – The simplified method as outlined in ASC 718.
| · |  | Expected dividend – The rate of dividends that we expect to pay over the term of the stock option.
| · |  | Volatility – Our actual volatility over the most recent historical period equivalent to the expected life of the option.
| · |  | Risk-free interest rate – The daily United States Treasury yield curve rate.
The following table outlines stock-based compensation expense, by award type, for the periods presented:
|  | Year Ended |
(in thousands) |  | December 31, 2017 |  | January 1, 2017 |
Stock options |  | $ | 218 |  | $ | 311 |
Shares of common stock |  |  | 85 |  |  | — |
Restricted stock |  |  | 10 |  |  | 28 |
|  | $ | 313 |  | $ | 339 |
The following is a roll-forward of our stock option activity for the periods presented:
|  |  |  |  |  |  | Weighted |  |  |
|  |  |  |  |  |  | Average |  |  |
|  | Number of |  |  |  |  | Remaining |  |  | Aggregate
|  | Options |  | Weighted Average |  | Contractual |  |  | Intrinsic Value
|  | (in thousands) |  | Exercise Price |  | Life in Years |  |  | (in thousands)
Options outstanding at January 3, 2016 |  | 507 |  |  | 16.66 |  | 5.3 |  | $ | —
Granted |  | 416 |  |  | 5.55 |  |  |  |  | —
Exercised |  | (6) |  |  | 5.90 |  |  |  |  | 4
Canceled, forfeited or expired |  | (231) |  |  | 19.44 |  |  |  |  | —
Options outstanding at January 1, 2017 |  | 686 |  |  | 9.15 |  | 5.7 |  |  | 1
Granted |  | 165 |  |  | 4.20 |  |  |  |  | —
Exercised |  | (3) |  |  | 5.42 |  |  |  |  | 5
Canceled, forfeited or expired |  | (309) |  |  | 11.04 |  |  |  |  | —
Options outstanding at December 31, 2017 |  | 539 |  | $ | 6.60 |  | 6.6 |  | $ | 598
Options Exercisable at December 31, 2017 |  | 266 |  | $ | 8.09 |  | 4.2 |  | $ | 187
The following table discloses the weighted-average values of significant assumptions that we made in valuing option grants for the periods presented:
|  | Year Ended |
|  | December 31, 2017 |  | January 1, 2017 |
Weighted-average fair value of options granted during the period |  | $ | 1.78 |  | $ | 1.97 |
Expected life (in years) |  |  | 5.3 |  |  | 5.2 |
Expected dividend |  | $ | — |  | $ | — |
Expected stock volatility |  |  | 43.47 | % |  | 39.98 | %
Risk-free interest rate |  |  | 2.0 | % |  | 1.2 | %
As of December 31, 2017, the total compensation cost related to unvested stock option awards was approximately $542,000, which is expected to be recognized over a period of approximately 2.58 years.

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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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