7. STOCK PLANS

Stock Plans Activity

The following table summarizes the restricted stock units (“RSUs”) activity during the quarter ended March 31, 2013:

	RSUs	Weighted Average Grant Date Fair Value
Nonvested - December 30, 2012	1,102,000	$2.98
Granted	472,650	$2.46
Vested	(320,000)	$4.08
Forfeited	(2,100)	$2.46
Nonvested - March 31, 2013	1,252,550	$2.50

The total fair value of the RSUs that vested during the quarter ended March 31, 2013 was $0.8 million.

The following table summarizes the stock appreciation rights (“SARs”) activity during the quarter ended March 31, 2013:

		Weighted	Aggregate
		Average	Intrinsic
	Options/	Exercise	Value
	SARs	Price	(in thousands)
Outstanding December 30, 2012	6,194,500	$11.45	$1,846
Granted	775,000	$2.46
Exercised	(387,000)	$1.71	$658
Forfeited	(11,000)	$3.17
Expired	(60,000)	$41.33
Outstanding March 31, 2013	6,511,500	$10.69	$1,522

For the quarter ended March 31, 2013, the following weighted average assumptions were used to estimate the fair value of the SARs granted:

	Quarter Ended
	March 31,
	2013
Expected life in years	4.51
Dividend yield	NIL
Volatility	1.08
Risk-free interest rate	0.76%
Weighted average exercise price of SARs granted	$	2.46
Weighted average fair value of SARs granted	$	1.85

Stock-Based Compensation

All stock-based payments, including grants of stock appreciation rights, restricted stock units and common stock under equity incentive plans, are recognized in the financial statements based on their fair values. At March 31, 2013, we had five stock-based compensation plans. Stock-based compensation expenses are reported in the compensation line item in the condensed consolidated statements of operations. Total stock-based compensation expense for the periods presented in this report is summarized below:

	Three Months Ended
	March 31,		March 25,
(in thousands)	2013		2012
Stock-based compensation expense	$	1,129	$	938