Annual report pursuant to Section 13 and 15(d)

Stock Incentive Plans (Tables)

v3.20.4
Stock Incentive Plans (Tables)
 12 Months Ended
Dec. 27, 2020
Share-based Payment Arrangement [Abstract]  
Summary of status of the Company's stock option plans
The tables below summarize the status of the Company's stock option plans (in thousands, except exercise price):
Stock Options
Shares Weighted Average Exercise Price
Outstanding, December 29, 2019
 288  $ 58.33 
Granted 241  12.61 
Forfeited/expired (54) 46.89 
Exercised (5) 21.61 
Outstanding, December 27, 2020
 470  $ 36.64 
Shares Weighted
Average
Exercise
Price		 Weighted
Average
Remaining
Years of
Contractual
Life		 Aggregate
Intrinsic Value
Outstanding as of December 27, 2020
 470  $ 36.64  6.78 $ 1,714 
Vested and expected to vest as of December 27, 2020(1)
429  38.82  6.54 1,414 
Exercisable as of December 27, 2020
 223  $ 59.74  4.25 $ — 
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(1)    The expected to vest options are the result of applying the pre-vesting forfeiture rate assumption to total outstanding options. The Company applies estimated forfeiture rates that are derived from our historical forfeitures of similar awards.
Schedule of average assumptions used in estimation of fair value of options
The estimated fair value of each option granted is calculated using the Black-Scholes multiple option-pricing model, and expense is recognized straight line over the vesting period. No options were granted during 2019. The average assumptions used in the model for the fiscal years ended December 27, 2020 and December 30, 2018 were as follows:
2020 2019 2018
Risk-free interest rate 0.5  % —  % 2.5  %
Expected years until exercise 4.7 0 3.2
Expected stock volatility 61.0  % —  % 43.4  %
Dividend yield —  % —  % —  %
Weighted average Black-Scholes fair value per share at date of grant $ 6.28  $ —  $ 16.56 
Total intrinsic value of options exercised (in thousands) $ 30  $ 20  $ 390 
Summary of the status of the Company's restricted stock units
The table below summarizes the status of the Company's time-based RSUs under the 2017 and 2007 Stock Plans (shares in thousands):
Restricted Stock Units
Shares Weighted Average Grant-Date Fair Value (per share)
Outstanding, December 29, 2019
 218  $ 35.62 
Awarded 239  12.98 
Forfeited (54) 36.80 
Vested (56) 36.45 
Outstanding, December 27, 2020
 347  $ 19.74 
Summary of status of Company's performance based stock units The table below summarizes the status of the Company's performance stock units under the 2017 Stock Plan (shares in thousands:
Performance Stock Units
Shares Weighted Average Grant-Date Fair Value (per share)
Outstanding, December 29, 2019
 102  $ 36.23 
Awarded 256  18.09 
Forfeited (52) 34.78 
Vested (9) 49.03 
Outstanding, December 27, 2020
 297  $ 20.52