v3.7.0.1
Stockholders’ Equity (Tables)
 6 Months Ended
Jul. 01, 2017
Equity [Abstract]  
Summary of Stock-based Compensation in Accompanying Consolidated Statements of Operations
The following table summarizes stock-based compensation in our accompanying condensed consolidated statements of operations (in thousands):
 
Three Months Ended
 
Six Months Ended
 
July 1, 2017
 
June 25, 2016
 
July 1, 2017
 
June 25, 2016
 
 
 
 
 
 
 
 
Cost of revenue
$
105

 
$
79

 
$
197

 
$
154

Selling and marketing
295

 
229

 
541

 
414

Research and development
370

 
279

 
651

 
509

General and administrative
1,178

 
1,059

 
2,162

 
1,937

Loss (income) from discontinued operations
—

 
3

 
—

 
8

   Total stock-based compensation
$
1,948

 
$
1,649

 
$
3,551

 
$
3,022
Assumptions Used to Estimate Fair Value of Options Granted
The following table presents the assumptions used to estimate the fair value of options granted during the periods presented:
 
Six Months Ended
 
July 1,
2017
 
June 25,
2016
Risk-free interest rate
1.86% - 2.18%
 
1.3 - 1.6 %
Expected term (years)
6.25
 
6.25
Volatility
32.89% - 33.37%
 
38.23%
Expected dividend yield
—
 
—
Summary of Stock Option and RSU Activity
A summary of stock option and RSU activity for the six months ended July 1, 2017 was as follows (in thousands for shares and intrinsic value):
 
 
 
 
 
 
 
 
 
Restricted Stock Units
 
Shares
 
Weighted-Average Remaining Contractual Term (Years)
 
Weighted-Average Exercise Price
 
Aggregate Intrinsic Value
 
Shares
 
Weighted-Average Grant Date Fair Value
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding as of December 31, 2016
4,312

 
6.45
 
$
6.64

 
$
13,042

 
1,780

 
$
7.08

Granted(1)
873

 
 
 
$
12.62

 
 
 
925

 
$
12.86

Settled (RSUs)
—

 
 
 
—

 
 
 
(288
)
 
$
7.46

Exercised
(458
)
 
 
 
$
4.48

 
 
 
—

 
—

Canceled and forfeited
(142
)
 
 
 
$
11.85

 
 
 
(510
)
 
$
6.89

Outstanding as of July 1, 2017
4,585

 
6.84
 
$
7.83

 
$
35,047

 
1,907

 
$
9.88

Vested and exercisable as of July 1, 2017
2,766

 
5.35
 
$
6.41

 
$
25,417

 
N/A
 
N/A
____________________________
(1) For RSUs, includes both time-based, performance-based, and market-based restricted stock units
Schedule of Stock by Class
As of July 1, 2017, we had reserved the following shares of common stock for future issuance in connection with the following (in thousands):
 
July 1, 2017
Options issued and outstanding
4,585

Restricted stock units issued and outstanding
1,907

Common stock available for stock-based award grants under incentive award plans
2,647

Common stock available for conversion of Series A Redeemable Convertible Preferred Stock
4,659

Total
13,798