Stock-Based Compensation

6 Months Ended

Jul. 01, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

Stock-Based Compensation

The Company's Stock Incentive Plan, as amended and restated in May of 2013, authorizes the grant of nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units and incentive bonuses to employees, officers, non-employee directors and other service providers. The number of shares of common stock available for issuance pursuant to awards granted under the Stock Incentive Plan on or after the closing of the IPO shall not exceed 3,750,500.

The following table presents information related to the Stock Incentive Plan (in thousands, except for share and per share amounts):

	Fiscal Quarter Ended				Two Fiscal Quarters Ended
	July 1, 2014		July 2, 2013		July 1, 2014		July 2, 2013
Outstanding, beginning of period	3,157,914		2,945,386		3,309,872		2,973,168
Granted (1)	231,552		538,273		231,552		538,273
Exercised	50,989		—		193,238		—
Forfeited	13,655		9,261		23,364		37,043
Outstanding, end of period	3,324,822		3,474,398		3,324,822		3,474,398
Weighted average fair market value on option grant date	$	10.93	$	5.81	$	10.93	$	5.81
Stock based compensation expense	$	536	$	3,600	$	694	$	3,900
Capitalized stock based compensation expense	$	29	$	16	$	12	$	41

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(1) The stock options granted in the second quarter of 2013 included 403,900 options awarded to two executive officers of which 50% vested at the time of the IPO, and the remaining vest annually in equal installements over four years on the anniversary of the grant.