Annual report pursuant to Section 13 and 15(d)

Stock-based Compensation (Tables)

v3.20.4
Stock-based Compensation (Tables)
12 Months Ended
Jan. 03, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Share-based Payment Arrangement, Option, Activity A summary of stock option activity under the Incentive Plans for the years ended December 30, 2018, December 29, 2019 and January 3, 2021 is as follows:

 

 

 

Total

Outstanding

options

 

 

Weighted

average

exercise

price

 

 

Aggregate

intrinsic

value

 

 

Weighted

average

remaining

contractual

term (years)

 

Outstanding balance at December 30, 2018

 

 

1,719,824

 

 

$

1.55

 

 

 

 

 

 

 

 

 

Options granted

 

 

650,000

 

 

 

3.67

 

 

 

 

 

 

 

 

 

Options forfeited

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options expired

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(25,450

)

 

 

1.80

 

 

 

 

 

 

 

 

 

Outstanding balance at December 29, 2019

 

 

2,344,374

 

 

 

2.14

 

 

 

 

 

 

 

 

 

Options granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options forfeited

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options expired

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(383,058

)

 

 

1.25

 

 

 

 

 

 

 

 

 

Outstanding balance at January 3, 2021

 

 

1,961,316

 

 

 

2.31

 

 

 

2,371

 

 

 

7.00

 

Exercisable balance at January 3, 2021

 

 

705,082

 

 

 

1.71

 

 

 

1,992

 

 

 

6.10

 

 

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The following weighted average assumptions were used in calculating the estimated fair value of stock options used to compute stock-based compensation expenses:

 

 

 

Year ended

January 3,

2021

 

Year ended

December 29,

2019

 

Year ended

December 30,

2018

 

Black-Scholes weighted-average assumptions

 

 

 

 

 

 

 

 

 

 

 

Expected dividend yield

 

 

N/A

 

 

N/A

 

 

 

0.0

%

Expected volatility

 

 

N/A

 

 

N/A

 

 

 

42.1

%

Expected forfeiture

 

 

N/A

 

 

N/A

 

 

 

30.0

%

Risk-free interest rate

 

 

N/A

 

 

N/A

 

 

 

2.84

%

Expected stock option life in years

 

 

N/A

 

 

N/A

 

 

 

4.0

 

Weighted-average stock option fair value per stock option granted

 

$

N/A

 

$

N/A

 

 

$

1.00

 

 

Share-based Payment Arrangement, Option, Exercise Price Range

The following table presents information about stock options outstanding as of January 3, 2021:

 

Outstanding

options

 

 

Weighted

average

exercise

price

 

 

Exercisable

options

 

 

Weighted

average

exercise

price

 

300,658

 

 

 

1.80

 

 

 

269,408

 

 

 

1.80

 

490,358

 

 

 

1.23

 

 

 

221,616

 

 

 

1.23

 

134,371

 

 

 

1.26

 

 

 

 

 

 

 

50,000

 

 

 

2.74

 

 

 

12,500

 

 

 

2.74

 

335,929

 

 

 

2.07

 

 

 

201,558

 

 

 

2.07

 

650,000

 

 

 

3.67

 

 

 

 

 

 

 

 

1,961,316

 

 

 

2.31

 

 

 

705,082

 

 

 

1.71

 

Share-based Payment Arrangement, Restricted Stock Unit, Activity

 

 

 

Outstanding

options

 

 

Weighted

average

stock

price

 

 

Weighted

average

remaining

contractual

term (years)

 

Outstanding balance at December 30, 2018

 

 

357,377

 

 

$

0.96

 

 

 

1.21

 

RSU/RSA granted

 

 

375,326

 

 

 

3.55

 

 

 

 

 

RSU forfeited

 

 

(25,000

)

 

 

1.38

 

 

 

 

 

RSU/RSA converted into common shares

 

 

(359,703

)

 

 

1.54

 

 

 

 

 

Outstanding balance at December 29, 2019

 

 

348,000

 

 

 

3.16

 

 

 

2.23

 

RSU/RSA granted

 

 

178,000

 

 

 

2.92

 

 

 

 

 

RSU forfeited

 

 

(27,500

)

 

 

3.30

 

 

 

 

 

RSU/RSA converted into common shares

 

 

(59,500

)

 

 

1.70

 

 

 

 

 

Outstanding balance at January 3, 2021

 

 

439,000

 

 

 

3.25

 

 

 

2.01

 

 

Performance Shares [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The following weighted average assumptions were used in calculating the estimated fair value of awards with market-based performance conditions used to compute stock-based compensation expenses:

 

 

 

Year ended

January 3,

2021

Year ended

December 29,

2019

 

 

Year ended

December 30,

2018

 

Binomial Model weighted-average assumptions

 

 

 

 

 

 

 

 

 

 

 

 

Stock Price

 

$

 

 

$

3.67

 

 

$

2.07

 

Expected volatility

 

 

 

 

 

50.0

%

 

 

43.0

%

Expected forfeiture

 

 

 

 

 

30.0

%

 

 

30.0

%

Risk-free interest rate

 

 

 

 

 

2.10

%

 

 

1.02

%

Expected stock option life in years

 

 

 

 

 

3.0

 

 

 

4.0

 

Weighted-average stock option fair value per award granted

 

$

 

 

$

0.95

 

 

$

0.47