7. STOCK PLANS

Stock Plans Activity

The following table summarizes the restricted stock units (“RSUs”) activity during the three months ended March 27, 2016:


		Weighted
		Average Grant
		Date Fair
		Value
Nonvested — December 27, 2015	1,538,800	$	2.98
Granted	1,234,200	$	1.06
Vested	(651,300)	$	3.09
Forfeited	(12,400)	$	2.60
Nonvested — March 27, 2016	2,109,300	$	1.83

The total fair value of the RSUs that vested during the three months ended March 27, 2016, was $0.7 million.

The following table summarizes the stock appreciation rights (“SARs”) activity during the three months ended March 27, 2016:


		Weighted		Aggregate
		Average		Intrinsic Value
	SARs	Exercise Price		(in thousands)
Outstanding December 27, 2015	3,201,250	$	7.35	$	—
Forfeited	(500)	$	2.76
Expired	(78,750)	$	8.56
Outstanding March 27, 2016	3,122,000	$	7.32	$	—

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 March 27, 2016, we had two 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:


	Three Months Ended
	March 27,		March 29,
(in thousands)	2016		2015
Stock-based compensation expense	$	1,374	$	1,714