7. STOCK PLANS

Stock Plans Activity

The following table summarizes the restricted stock units (“RSUs”) activity during the three months ended March 26, 2017:


		Weighted
		Average Grant
		Date Fair
		Value
Nonvested — December 25, 2016	204,145	$	18.17
Granted	151,905	$	11.50
Vested	(113,266)	$	21.13
Forfeited	(270)	$	23.40
Nonvested — March 26, 2017	242,514	$	12.60

The total fair value of the RSUs that vested during the three months ended March 26, 2017, was $1.3 million.

The following table summarizes the stock appreciation rights (“SARs”) activity during the three months ended March 26, 2017:


		Weighted		Aggregate
		Average		Intrinsic Value
	SARs	Exercise Price		(in thousands)
Outstanding December 25, 2016	292,750	$	50.29	$	—
Expired	(1,850)	$	108.78
Outstanding March 26, 2017	290,900	$	49.92	$	—

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. As of March 26, 2017, 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 26,		March 27,
(in thousands)	2017		2016
Stock-based compensation expense	$	1,029	$	1,374