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PERFORMANCE SHARES, STOCK OPTIONS, OTHER FORMS OF COMPENSATION, AND COMMON SHARE REPURCHASES (Tables)
12 Months Ended
Jan. 03, 2016
Performance Shares, Stock Options, Other Forms Of Compensation And Common Share Repurchaces [Abstract]  
Schedule of Stock-based Compensation Expense [Table Text Block]
For the Years Ended
January 3,December 28,December 29,
(in thousands)201620142013
Performance Share Programs:
2011 Program(1)(3)---(55)205
2012 Program(1)(4)---(761)297
2013 Program(2)(5)(6)(7)(8)(169)(412)582
Performance Shares and
Performance Stock Units$(169)$(1,228)$1,084
Stock Options459371---
Restricted Stock and
Restricted Stock Units (8)---(73)405
Director Shares(9)6047117
$350$(883)$1,606
(1)The 2011 and 2012 Program's consisted entirely of performance shares.
(2)The 2013 Program consisted of performance shares and performance stock units.
(3)Includes the recapture of previously recorded stock-based compensation of approximately $55,000 due to the departure of employees for the year ended December 28, 2014.
(4)Includes the recapture of previously recorded stock-based compensation of approximately $761,000 due to the departure of employees and the failure to achieve performance targets for the year ended December 28, 2014.
(5)Includes the recapture of previously recorded stock-based compensation related to performance shares of approximately $458,000 and performance stock units of approximately $135,000 due to the departure of employees for the year ended December 28, 2014.
(6)Includes the recapture of previously recorded stock-based compensation related to performance shares of approximately $131,000 and performance stock units of approximately $38,000 due to the failure to achieve threshold performance levels for the program as of January 3, 2016.
(7)Includes a mark-to-market adjustment related to performance stock units of approximately $22,000 for the year ended December 28, 2014.
(8)Includes the recapture of previously recorded stock-based compensation of approximately $128,000 due to the February 2014 departure of our former CEO for the year ended December 28, 2014.
(9)Includes the recapture of previously recorded stock-based compensation of approximately $20,000 due to the February 2014 departure of our former CEO for the year ended December 28, 2014.
Schedule of Share-based Compensation, Activity [Table Text Block]
Target No. of Estimated Payout of MinimumMaximum
Performance Shares and Performance Shares andCumulativePayout
Award Performance Stock Units Performance Stock UnitsEarnings(as a percent of
DateProgram(Originally Granted)(1)(at January 3, 2016)(2)Goaltarget number)
1/8/20132013 Program(4)25,300---(3)*100.0%(5)
*Varies
(1)Assumes achievement of 100% of the applicable Cumulative EPS Goal or Adjusted EBITDA Goal.
(2)Net of employee forfeitures.
(3)No payout will occur as the applicable Cumulative Adjusted EBITDA Goal was not attained.
(4)This program consists of 15,320 performance shares and 1,480 performance stock units originally granted.
(5)The participants’ rights to receive Performance Shares or Performance Stock Units are contingent on the Company achieving Cumulative Adjusted EBITDA for fiscal 2013-2015 that are equal to at least the sum of the amounts achieved by the Company during fiscal 2012-2014 (as adjusted by the Compensation Committee, if applicable). If the Company achieves this threshold, then participants will be entitled to receive a percentage of their “Target” number of Performance Shares and Performance Stock Units equal to the percentage of the Adjusted EBITDA Goal achieved by the Company, up to 100%.
Schedule Of Director Compensation [Table Text Block]
Fiscal Years
201520142013
(in thousands)
Stock-based compensation(1)(2)(3)(4)(5)$60$47$117
Stock option compensation(6)(7)(8)69155-
Cash compensation201358435
Total Board of Directors' compensation$330$560$552
(1)On May 5, 2009, and September 29, 2009 one-time 25,000 share restricted stock awards were granted to Lisa A. Kro and Wallace B. Doolin, respectively, upon joining the Board of Directors. The grants to Ms. Kro and Mr. Doolin had grant date fair values of $168,000 and $150,000, respectively. As of December 28, 2014, the awards had vested with respect to all of Ms. Kro's and Mr. Doolin's shares, with the exception of 5,000 of Mr. Doolin's that were canceled upon his resignation from the Board of Directors. As a result, the year ended December 28, 2014 includes the recapture of previously recorded stock-based compensation of approximately $15,000.
(2)On August 2, 2011, a one-time 15,000 share restricted stock award was granted to John F. Gilbert III, upon assuming his new position on the Board of Directors. The grant to Mr. Gilbert had a grant date fair value of $154,000. Subsequent to the end of fiscal 2013, Mr. Gilbert resigned from the Board of Directors and all unvested restricted shares have been forfeited and returned to the company.
(3)On April 30, 2013, a one-time 13,575 share restricted stock award was granted to Patrick Walsh, upon joining the Board of Directors. The grant to Mr. Walsh had a grant date fair value of $150,000 and will vest ratably over a period of five years which began on the commencement date of his board service.
(4)On November 27, 2013, a one-time 7,640 share restricted stock award was granted to Adam Wright, upon joining the Board of Directors. The grant to Mr. Wright had a grant date fair value of $150,000 and will vest ratably over a period of five years which began on the commencement date of his board service.
(5)Includes the recapture of previously recorded stock-based compensation of approximately $20,000 due to the forfeiture of unvested restricted stock upon the February 2014 resignation of our former CEO, which restricted stock had been awarded as director compensation
(6)On January 10, 2014, a one-time 20,000 stock option award was granted to Edward H. Rensi upon joining the Board of Directors. The grant to Mr. Rensi vested in five equal installments commencing on the first anniversary of the grant date, of which 16,000 were unvested and forfeited upon his departure of June 18, 2015.
(7)On May 22, 2014, one-time 20,000 stock option awards were granted to each of Brett D. Heffes and Jonathon Lennon upon their joining the Board of Directors. The grants to Mr. Heffes and Mr. Lennon vest in five equal annual installments commencing on the first anniversary of the grant date and expire ten years from the same date. Mr. Heffes awards were forfeited upon his resignation from the Board of Directors on July 13, 2015.
(8)On July 28, 2014, a one-time 27,500 stock option award was granted to David J. Mastrocola upon joining the Board of Directors. This award was forfeited upon his resignation from the Board of Directors effective July 14, 2015.
Schedule Of Stock Options Activity [Table Text Block]
(number of options in thousands)Number of OptionsWeighted Average Exercise Price
Options outstanding at December 30, 2012102$6.80
Exercised(1)(54)5.92
Options outstanding at December 29, 2013487.77
Granted19128.11
Exercised(2)(43)7.40
Options outstanding at December 28, 201419627.67
Granted46515.75
Canceled, forfeited or expired(154)28.07
Options outstanding at January 3, 2016507$16.66
Options Exercisable at December 29, 201348$7.77
Options Exercisable at December 28, 201418$17.39
Options Exercisable at January 3, 201677$21.48
(1)In 2013, option holders elected to forfeit approximately 23,000 shares to satisfy the strike price and tax withholding obligations, resulting in a net issuance of approximately 31,000 shares.
(2)In 2014, option holders elected to forfeit approximately 18,000 shares to satisfy the strike price and tax withholding obligations, resulting in a net issuance of approximately 25,000 shares.
(3)In 2015, no stock options were exercised.
The following are weighted-average values and assumptions for valuing grants made during fiscal 2015:
Weighted-average fair value of options granted during the year$4.90
Expected life (in years)3.3
Expected stock volatility51.2%
Risk-free interest rate1.9%
As of January 3, 2016, there was $1.4 million of total unrecognized compensation cost related to
stock option arrangements granted under the Company's stock option plan. The cost is expected to be
recognized over a weighted average period of 2.5 years.
Schedule Of Stock Option Plans By Exercise Price Range [Table Text Block]
(number outstanding and number exercisable in thousands)
Options OutstandingExercisable
Exercise pricesNumber outstandingWeighted-average remaining contractual life in yearsWeighted- average exercise priceNumber exercisableWeighted- average exercise price
$6.94 - $32.10 5075.3$16.6677$21.48