7. STOCK PLANS

Stock Plans Activity

During the quarter ended September 28, 2014, we granted 15,000 shares of Class A Common Stock to each non-employee director, resulting in the issuance of 150,000 shares from The McClatchy Company 2012 Omnibus Incentive Plan.

The following table summarizes the restricted stock units (“RSUs”) activity during the nine months ended September 28, 2014:

		Weighted Average
	RSUs	Grant Date Fair Value
Nonvested - December 29, 2013	1,231,650	$2.50
Granted	706,950	$4.82
Vested	(490,450)	$2.66
Forfeited	(40,800)	$2.94
Nonvested - September 28, 2014	1,407,350	$3.60

The total fair value of the RSUs that vested during the nine months ended September 28, 2014, was $2.6 million.

The following table summarizes the stock appreciation rights (“SARs”) activity during the nine months ended September 28, 2014:

			Weighted	Aggregate
			Average	Intrinsic
	Options/		Exercise	Value
	SARs		Price	(in thousands)
Outstanding December 29, 2013	6,110,500		$ 9.69	$ 2,384
Exercised	(1,678,250	)	$ 2.86	$ 3,138
Forfeited	(67,250	)	$ 3.38
Expired	(376,500	)	$ 29.26
Outstanding September 28, 2014	3,988,500		$ 10.82	$ 1,722

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 28, 2014, we had three 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, are as follows:

	Quarters Ended				Nine Months Ended
	September 28,		September 29,		September 28,		September 29,
(in thousands)	2014		2013		2014		2013
Stock-based compensation expense	$	1,108	$	1,064	$	2,682	$	2,802