Stockholders' Equity and Share-Based Compensation |
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Stockholders' Equity and Share-Based Compensation |
Note 3 – Stockholders’ Equity and Share-Based Compensation Options and Restricted Stock Units The Company had the following common stock option activity during the thirteen weeks ended March 28, 2020:
The following table summarizes the Company’s restricted stock unit ("RSU") activity for the thirteen weeks ended March 28, 2020, and details regarding the awards outstanding and exercisable at March 28, 2020 (in thousands):
During the thirteen weeks ended March 28, 2020, 27 RSUs that vested were time-based and 1,762 were performance-based. In addition, 56 shares were released to a departing employee and 3 shares were issued as partial payment for director’s fee as elected by a current Board member. For the RSUs awarded, the number of shares issued on the date of vest is net of the minimum statutory withholding requirements that we pay in cash to the appropriate taxing authorities on behalf of our employees. For those employees who elect not to receive shares net of the minimum statutory withholding requirements, the appropriate taxes are paid directly by the employee. During the thirteen weeks ended March 28, 2020, we withheld 36 shares to satisfy $84 of employees’ tax obligations. Although shares withheld are not issued, they are treated as a common stock repurchase in our consolidated financial statements, as they reduce the number of shares that would have been issued upon vesting. For the thirteen weeks ended March 28, 2020, we recorded compensation costs related to stock options and RSUs of $2,819. For the thirteen weeks ended March 30, 2019 we recorded compensation costs related to stock options and RSUs of $554. As of March 28, 2020, there was unrecognized compensation expense related to stock options and RSUs of $9,871 that will be expensed through March 2024. |