7. STOCK PLANS

Stock Plans Activity

The following table summarizes the restricted stock units (“RSUs”) activity during the nine months ended September 29, 2013:

			Weighted Average
	RSUs		Grant Date Fair Value
Nonvested - December 30, 2012	1,102,000		$2.98
Granted	648,150		$2.61
Vested	(485,000	)	$3.72
Forfeited	(24,950	)	$2.48
Nonvested - September 29, 2013	1,240,200		$2.50

The total fair value of the RSUs that vested during the nine months ended September 29, 2013 was $1.3 million.

The following table summarizes the stock appreciation rights (“SARs”) activity during the nine months ended September 29, 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	(522,750	)	$1.71	$819
Forfeited	(44,000	)	$3.27
Expired	(101,750	)	$38.53
Outstanding September 29, 2013	6,301,000		$10.77	$1,605

For the nine months ended September 29, 2013, the following weighted average assumptions were used to estimate the fair value of the SARs granted:

	Nine Months Ended
	September 29,
	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 grant date fair values. At September 29, 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:

	Quarter Ended				Nine Months Ended
	September 29,		September 23,		September 29,		September 23,
(in thousands)	2013		2012		2013		2012
Stock-based compensation expense	$	1,067	$	940	$	2,834	$	2,734