Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Effect of Recording Equity-Based Compensation

The effect of recording equity-based compensation for fiscal 2016, 2015 and 2014 was as follows (in thousands):

	2016		2015		2014
Equity-based compensation by type of award:
Stock options	$	880	$	963	$	1,094
RSUs		2,190		1,711		1,464
Employee stock purchase plan		674		946		442
Total equity-based compensation	$	3,744	$	3,620	$	3,000

Employee Stock Options Weighted-Average Assumptions

The weighted-average assumptions used in the model are outlined in the following table:

	2016			2015			2014
Stock Options:
Weighted-average fair value of grants per share	$	1.76		$	2.05		$	3.15
Expected volatility		43.86	%		46.12	%		52.12	%
Risk free interest rate		0.97	%		1.42	%		1.39	%
Expected term of options (in years)		4.28			3.99			4.38
Dividend yield		None			None			None

Option Activity and Changes

A summary of the stock option activity is as follows:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Options outstanding at January 2, 2016		2,433,647		$	7.52		4.10	$	141,546
Options granted		422,500		$	4.88
Options cancelled and forfeited		(107,230	)	$	10.69
Options exercised		(8,553	)	$	4.47
Options outstanding at December 31, 2016		2,740,364		$	7.00		3.64	$	5,837,900
Vested and expected to vest at December 31, 2016		2,624,994		$	7.07		3.55	$	5,476,403
Options exercisable at December 31, 2016		1,829,765		$	7.73		2.74	$	3,082,215

Options Outstanding and Currently Exercisable

The options outstanding and currently exercisable at December 31, 2016 were in the following exercise price ranges:

	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number of Shares Outstanding		Weighted Average Remaining Contractual Term (years)		Weighted Average Exercise Price		Number Vested and Exercisable		Weighted Average Exercise Price
$3.91 - —$ 5.42		1,023,311		4.88	$	4.77		407,446	$	4.54
$5.43 - $7.37		924,908		3.93	$	6.61		660,729	$	6.61
$7.38 - $20.10		792,145		1.71	$	10.34		761,590	$	10.42
$3.91 - $20.10		2,740,364		3.64	$	7.00		1,829,765	$	7.73

Summary of Restricted Stock Units Activity

A summary of the RSU activity is as follows:

	Shares			Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Non-vested RSUs at January 2, 2016		553,584		$	6.16		1.02	$	2,607,381
Granted		768,527		$	4.20
Vested		(268,883	)	$	6.46
Cancelled		(103,773	)	$	4.81
Non-vested RSUs at December 31, 2016		949,455		$	4.64		1.04	$	8,117,840

Weighted Average Fair Value of Market Condition Based RSUs

The weighted-average assumptions used in the model are outlined in the following table.

	2016
Weighted-average fair value of grants per share	$	2.46
Expected volatility		47.65	%
Risk free interest rate		1.35	%
Expected term (in years)		4.79
Dividend yield		None

Employee Stock Purchase Rights Weighted-Average Assumptions

The fair value of the employee stock purchase right is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:

	2016			2015			2014
Stock Purchase Rights:
Weighted-average fair value of grants per share	$	1.55		$	2.14		$	2.08
Expected volatility		39.22	%		43.45	%		44.00	%
Risk free interest rate		0.75	%		0.45	%		0.11	%
Expected term of purchase rights (in years)		1.87			1.36			0.69
Dividend yield		None			None			None

Employee Stock Purchase Plan Activity

The ESPP activity during fiscal 2016, 2015 and 2014 is as follows:

	2016		2015		2014
	(in thousands, except per share amounts)
Shares purchased		384		374		444
Weighted-average purchase price per share	$	3.78	$	3.90	$	3.63
Aggregate intrinsic value of purchase rights exercised	$	514	$	688	$	1,444