Share-Based Compensation

3 Months Ended

Apr. 03, 2015

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-Based Compensation

10. Share-Based Compensation

The table below summarizes activities relating to restricted stock units issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan during the three months ended April 3, 2015:

	Restricted Stock Units (In thousands)			Weighted Average Grant Date Fair Value
Unvested at December 31, 2014		749		$	10.80
Granted		287		$	13.29
Vested		(294	)	$	11.10
Forfeited		(27	)	$	11.03
Unvested at April 3, 2015		715		$	11.67
Expected to vest as of April 3, 2015		691

The total fair value of restricted stock units that vested during the three months ended April 3, 2015, based on the market price of the underlying stock on the date of vesting, was $3.7 million.

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
	April 3, 2015			March 28, 2014
Selling, general and administrative	$	1,484		$	1,356
Research and development and engineering		49			50
Cost of sales		64			33
Restructuring, acquisition and divestiture related costs		(44	)		46
Total share-based compensation expense	$	1,553		$	1,485

The expense recorded during each of the three-month periods ended April 3, 2015 and March 28, 2014, respectively, included $0.5 million related to deferred stock units granted to the members of the Company’s Board of Directors, pursuant to the Company’s Amended and Restated 2010 Incentive Plan. The expense associated with the respective deferred stock units was recognized in full on the date of grant, as the deferred stock units were fully vested and non-forfeitable upon grant.

The Company acquired 100% of the outstanding stock of JADAK on March 14, 2014. In addition to the total purchase price, the Company granted restricted stock units in an aggregate of 180,000 shares to the former owner-managers of JADAK as employment inducement awards. These restricted stock units are performance based awards and will vest after two years if certain financial targets and service conditions have been achieved. As of December 31, 2014 and April 3, 2015 an aggregate of 45,000 shares, and 90,000 shares, respectively, were forfeited due to the departure of two former owner-managers of JADAK.