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SHARE-BASED COMPENSATION
 6 Months Ended
Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-Based Compensation SHARE-BASED COMPENSATION

Stock Options and Restricted Stock

On May 31, 2018, the Company entered into a stock option cancellation agreement (the "Option Cancellation Agreement") with the Company's former President and Chief Executive Officer, pursuant to which the Company agreed to pay $18.00 per share of common stock underlying stock options less the exercise price per share thereof for a total paid $3.3 million in exchange for the cancellation of 284,888 stock options granted under the 2013 Plan.

For the thirteen week periods ended June 30, 2019 and July 1, 2018, the Company recognized $0.2 million and $0.1 million of compensation expense related to stock awards, respectively. For the twenty-six week periods ended June 30, 2019 and July 1, 2018, the Company recognized $0.5 million and $0.1 million of compensation expense related to stock awards, respectively. Unamortized share-based compensation expense as of June 30, 2019 amounted to $2.0 million which is expected to be recognized over the next 2.9 years.
 
A summary of stock option and restricted stock activity is presented as follows:
 
Number of
Shares
 
Weighted Average Exercise Price Per Share
 
Weighted Average Remaining Contractual Life
 
Total Intrinsic Value of Awards
(in thousands)
Awards outstanding at December 30, 2018
526,985

 
$
16.49

 
7.7
 
$
2,932

Granted
68,750

 
$
26.44

 
 
 
 
Exercised
(22,240
)
 
$
12.75

 
 
 
 
Forfeited / Canceled
(33,700
)
 
$
14.03

 
 
 
 
Awards outstanding at June 30, 2019
539,795

 
$
18.06

 
7.6
 
$
2,127

 
 
 
 
 
 
 
 
Awards exercisable at December 30, 2018
238,085

 
$
13.96

 
7.2
 
$
1,684

Awards exercisable at June 30, 2019
253,595

 
$
14.80

 
6.9
 
$
1,378


 
 
Number of
Shares
 
Weighted Average Grant Date Fair Value
Nonvested outstanding at December 30, 2018
 
288,900

 
$
8.34

Nonvested outstanding at June 30, 2019
 
286,200

 
$
9.12



For the twenty-six week period ended June 30, 2019, the Company issued 9,298 shares of common stock upon the cashless exercise of 22,240 stock options.

Included in awards outstanding are 27,000 shares of restricted stock issued in August 2018, at a grant date price per share of $28.61. For the thirteen and twenty-six week period ended June 30, 2019, the Company recognized $0.1 million of compensation expense related to restricted stock.

Warrant Activity
 
For the thirteen and twenty-six week periods ended June 30, 2019 and July 1, 2018, the Company did not recognize compensation cost related to warrants. There was no unamortized stock compensation expense to be recognized as of June 30, 2019.
 
A summary of warrant activity is presented as follows:
 
Number of
Shares
 
Weighted Average Exercise Price Per Share
 
Weighted Average Remaining Contractual Life
 
Total Intrinsic Value of Options
(in thousands)
Warrants outstanding at December 30, 2018
93,216

 
$
11.59

 
1.3
 
$
805

Exercised
(1,020
)
 
$
14.86

 
 
 
 
Warrants outstanding at June 30, 2019
92,196

 
$
13.84

 
1.3
 
$
325

 
 
 
 
 
 
 
 
Warrants exercisable at December 30, 2018
93,216

 
$
11.59

 
1.3
 
$
805

Warrants exercisable at June 30, 2019
92,196

 
$
13.84

 
1.3
 
$
325



There were no nonvested warrants outstanding at June 30, 2019 and December 30, 2018.

For the twenty-six week period ended June 30, 2019, the Company issued 423 shares of common stock upon the cashless exercise of 1,020 warrants.

The intrinsic value in the tables above is the amount by which the market value of the underlying stock exceeded the exercise price of outstanding options or warrants, before applicable income taxes and represents the amount holders would have realized if all in-the-money options or warrants had been exercised on the last business day of the period indicated.