STOCK-BASED COMPENSATION (Tables)

9 Months Ended

12 Months Ended

Oct. 01, 2016

Jan. 02, 2016

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

The table below reflects the restricted stock activity for the year to date period as well as other information related to awards of restricted stock that were granted under the Equity Incentive Plan. Restricted stock granted under the Equity Incentive Plan vests over a three- or four-year period on a graded-vesting basis with equal proportions of the shares vesting at the annual anniversary date of the grant in each of the three or four years in the vesting period.


	Shares			Weighted Average Grant Date Fair value per Share
Unvested Restricted Shares:
Balance at beginning of fiscal year		1,625,477		$	2.46
Granted		224,378		$	10.66
Vested		(431,407	)	$	4.58
Forfeited		(98,543	)	$	1.01

Balance at end of period		1,319,905		$	3.26

Vested Restricted Shares:
Balance at beginning of fiscal year		2,913,207		$	1.72
Vested		431,407			4.58
Repurchased		(259,249	)	$	1.51

Balance at end of period		3,085,365		$	2.27

The following table summarizes the share activity during fiscal 2015, fiscal 2014 and fiscal 2013:


	Fiscal 2015					Fiscal 2014					Fiscal 2013
	Shares			Weighted Average Grant Date Fair Value per Share		Shares			Weighted Average Grant Date Fair Value per Share		Shares			Weighted Average Grant Date Fair Value per Share
Total Restricted Shares:
Balance at beginning of year		4,104,722		$	1.51		4,038,792		$	1.83		8,484,364		$	2.96
Granted		779,154		$	4.09		505,460		$	1.01		2,490,308		$	1.01
Forfeited		(172,596	)	$	1.01		(49,313	)	$	1.01		—
Repurchased		(172,596	)	$	1.01		(390,217	)	$	4.30		(6,935,880	)	$	2.92

Balance at end of year		4,538,684		$	1.99		4,104,722		$	1.51		4,038,792		$	1.83

Vested Restricted Shares:
Balance at beginning of year		1,857,157		$	1.85		1,186,968		$	2.81		7,093,639		$	2.66
Vested		1,228,646		$	1.43		1,060,406		$	1.68		1,029,209		$	4.54
Repurchased		(172,596	)	$	1.01		(390,217	)	$	4.30		(6,935,880	)	$	2.92

Balance at end of year		2,913,207		$	1.72		1,857,157		$	1.85		1,186,968		$	2.81

Unvested shares at end of year		1,625,477		$	2.46		2,247,565		$	1.22		2,851,824		$	1.42
Shares available for grant		914,707					1,348,661					1,804,806

During fiscal 2015, the Company granted restricted shares with weighted average fair values per share as follows:


Grants Made During Quarter Ended	Number of Restricted Shares Granted		Weighted Average Fair Value of Common Stock per Share on Date of Grant
April 4, 2015		209,584	$	1.52
July 4, 2015		76,436		1.52
October 3, 2015		197,256		5.58
January 2, 2016		295,878		5.58

Schedule of stock option award using the Black-Scholes model

The grant-date fair value of the stock option awards was determined using the Black-Scholes model utilizing the following inputs:


Stock price on date of grant	$	25.69
Exercise price	$	25.69
Expected term		6 years
Risk-free interest rate		1.36	%
Expected dividend yield		2.2	%
Expected volatility		23.8	%

Schedule of restricted stock unit award during end of the period

Additional information relating to the RSUs awards is as follows:


	Shares			Weighted Average Grant Date Fair value per Share
Total Restricted Stock Units
Balance at beginning of fiscal year		—			—
Granted		240,843		$	25.69
Forfeited		(1,414	)	$	25.69

Balance at end of period		239,429		$	25.69

Vested Restricted Stock Units		—			—
Unvested shares at end of period		239,429		$	25.69
Expected to vest		225,348		$	25.69

Schedule of stock option award at the end of the period

Additional information relating to our stock option award during and at the end of the period are as follows:


	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value ⁽¹⁾ (in thousands)
Balance at beginning of fiscal year		—			—
Granted		648,301		$	25.69
Forfeited		(4,242	)	$	25.69

Balance outstanding at end of period		644,059		$	25.69		9.9 years	$	1,204

Options expected to vest		610,175		$	25.69		9.9 years	$	1,134

(1)	Represents the total pre-tax intrinsic value, based on the closing price of our common stock on the New York Stock Exchange on October 1, 2016 and is the amount the option holders would have received had all option holders exercised their options on October 1, 2016.