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Stock Based Compensation (Tables)
6 Months Ended
Jul. 04, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Activity in Stock Option Plan

The following table summarizes information regarding activity in our stock option plan during the six months ended July 4, 2015:

 

 

Number of
Shares

 

 

Weighted
Average
Exercise Price
Per Share

 

  

Aggregate
Intrinsic
Value
(thousands)

 

Outstanding as of January 3, 2015 

  

833,795

 

 

$

4.88 

  

  

 

 

 

Granted 

  

95,700

 

 

$

10.62 

  

  

 

 

 

Exercised 

  

(167,189

)

 

$

3.68 

  

  

 

 

 

Canceled or forfeited 

 

(18,351

)

 

$

5.98 

  

  

 

 

 

Outstanding as of July 4, 2015 

 

743,955

 

 

$

5.86 

  

  

$

2,048

  

 

Weighted Average Assumptions for Fair Value Estimate of Stock-Based Awards (Options)

The Company uses the Black-Scholes option-pricing model to estimate fair value of stock-based awards (options) with the following weighted average assumptions:

 

 

Three Months Ended

 

 

Six Months Ended

 

 

July 4,
2015

 

 

June 28,
2014

 

 

July 4,
2015

 

 

June 28,
2014

 

Average risk free interest rate

 

1.51

%

 

 

1.45

 

 

1.27

%

 

 

1.48

%

Expected life (in years)

 

4.55 years

 

 

 

4.5 years

  

 

 

4.55 years

 

 

 

4.5 years

 

Dividend yield

 

%

 

 

 

 

 

 

%

Average volatility

 

51

%

 

 

55

 

 

51

 

 

57

%

 

Stock-Based Compensation Expense

The following table shows stock-based compensation expense included in the condensed consolidated statements of operations for the three and six months ended July 4, 2015 and June 28, 2014:

 

 

Three Months Ended

 

 

Six Months Ended

 

July 4,
2015

 

 

June 28,
2014

 

 

July 4,
2015

 

 

June 28,
2014

Cost of revenues

$

56

 

 

$

39

 

 

$

123

 

 

$

73

Research and development

 

53

 

 

 

26

 

 

 

132

 

 

 

48

Sales and marketing

 

45

 

 

 

28

 

 

 

104

 

 

 

60

General and administrative

 

75

 

 

 

141

 

 

 

203

 

 

 

297

 

$

229

 

 

$

234

 

 

$

562

 

 

$

478

 

Summary of Stock Options Outstanding, Vested and Expected to Vest and Exercisable

Occasionally, the Company will grant stock-based instruments to non-employees. During the six months ended July 4, 2015 and June 28, 2014, the amount of stock-based compensation related to non-employee options was not material.  

Information regarding stock options outstanding, vested and expected to vest and exercisable as of July 4, 2015 is summarized below:

 

 

Number of
Shares

  

 

Weighted 
Average
Exercise Price

 

  

Weighted 
Average
Remaining 
Contractual
Life (Years)

  

 

Aggregate
Intrinsic Value
(thousands)

 

Options outstanding

  

743,955

  

 

$

5.86

  

  

 

4.43

  

 

$

2,048

  

Options vested and expected to vest

  

699,259

  

 

$

5.72

  

  

 

4.35

  

 

$

2,000

  

Options exercisable

  

384,668

  

 

$

4.54

  

  

 

3.48

  

 

$

1,453

  

 

Restricted Stock Units and Awards

Information regarding the restricted stock units activity for the six months ended July 4, 2015 is summarized below:

 

 

Number
of Shares

 

Outstanding as of January 3, 2015

  

277,390

 

Restricted stock units granted

  

225,392

 

Restricted stock units released 

  

(207,340

)

Restricted stock units cancelled

 

(80,000

)

Outstanding as of July 4, 2015 

  

215,442

 

 

 

Information regarding the restricted stock awards activity for the six months ended July 4, 2015 is summarized below:

 

 

Number
of Shares

 

Outstanding as of January 3, 2015

  

2,445

 

Restricted stock awards granted

  

2,513

 

Restricted stock awards released

 

(2,445

)

Outstanding as of July 4, 2015 

  

2,513