Share-Based Compensation

3 Months Ended

Mar. 28, 2014

Share-Based Compensation

10. Share-Based Compensation

The table below summarizes activities relating to restricted stock units issued and outstanding under the 2010 Incentive Award Plan during the three months ended March 28, 2014:

	Restricted Stock Units (In thousands)			Weighted Average Grant Date Fair Value
Unvested at December 31, 2013		809		$	10.20
Granted		295		$	12.32
Vested		(292	)	$	11.02
Forfeited		—		$	—
Unvested at March 28, 2014		812		$	10.68
Expected to vest as of March 28, 2014		786

The total fair value of restricted stock units that vested during the three months ended March 28, 2014 was $3.6 million based on the market price of the underlying stock on the day of vesting.

The table below summarizes share-based compensation expense recorded in income from continuing operations in the consolidated statements of operations (in thousands):

	Three Months Ended
	March 28, 2014		March 29, 2013
Selling, general and administrative	$	1,356	$	1,470
Research and development and engineering		50		34
Cost of sales		33		27
Restructuring and acquisition related costs		46		—
Total share-based compensation expense	$	1,485	$	1,531

The expense recorded during each of the three months ended March 28, 2014 and March 29, 2013 includes $0.5 million related to deferred stock units granted to the members of the Company’s Board of Directors, pursuant to the Company’s 2010 Incentive Award Plan. The expense associated with the respective deferred stock units was recognized in full on the respective date of grant, as the deferred stock units were fully vested and non-forfeitable on the date of grant.

As noted in Note 3, on March 14, 2014, the Company acquired 100% of the outstanding stock of JADAK. In addition to the total purchase price, the Company granted restricted stock units in an aggregate of 180,000 shares to the four former owner-managers of JADAK and are intended to be employment inducement awards. These restricted stock units are performance based awards and will vest after two years if certain financial targets have been achieved.