NOTE 6 - STOCK COMPENSATION PLANS

9 Months Ended

Sep. 26, 2015

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

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

NOTE 6 - STOCK COMPENSATION PLANS

In June 2009, the Company's stockholders approved the 2009 Equity Incentive Plan (the “Equity Plan,” or the “Plan”) that provided for the issuance of up to 480,000 shares of common stock. On April 26, 2012, the Board approved, and the stockholders subsequently approved, an amendment to the Plan to increase the number of shares available for issuance under the Plan by 500,000 from 480,000 to 980,000.  On October 20, 2013, the Board approved, and the stockholders subsequently approved, an amendment to the Plan to increase the number of shares available for issuance under the Plan by 850,000 from 980,000 to 1,830,000. On June 18, 2015, the Board approved, and the stockholders subsequently approved, an amendment to the Plan to increase the number of shares available for issuance under the Plan by 750,000 from 1,830,000 to 2,580,000 and to establish the individual limits, eligible individuals and performance measures for certain awards included in the Plan for purposes of meeting the performance-based compensation exception under Section 162(m) of the Internal Revenue Code. (See “Note 11 – Stock Compensation Plans” of the Company’s 2014 Annual Report on Form 10-K for additional information on the stock compensation plans. See the Company’s definitive Proxy Statement for its 2015 Annual Meeting of Stockholders on Schedule 14A filed with the Securities and Exchange Commission on April 24, 2015 for additional information on the June 18, 2015 amendment to the Plan).