| Summary of activity in the Company’s stock option plans |
A summary of activity in the Company's stock option plans is as follows:
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Weighted
Average
Exercise
Price
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Options
Outstanding
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Weighted
Average
Contractual
Term
(in years)
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Intrinsic
Value of
Options
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|
Options
Available
|
At December 31, 2011 |
$ |
11.28 |
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120,800 |
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|
8.0 |
|
$ |
6,448 |
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|
250,000 |
|
Granted February 9, 2012 |
$ |
11.35 |
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|
36,740 |
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(36,740 |
) |
Granted August 21, 2012 |
$ |
12.73 |
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75,000 |
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(75,000 |
) |
Exercised |
$ |
10.50 |
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(11,800 |
) |
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Expired |
$ |
— |
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— |
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— |
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At December 29, 2012 |
$ |
11.82 |
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220,740 |
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8.4 |
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$ |
367,937 |
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|
138,260 |
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Granted February 7, 2013 |
$ |
13.70 |
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40,594 |
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(40,594 |
) |
Exercised |
$ |
10.69 |
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(15,247 |
) |
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Expired |
$ |
12.70 |
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(83,351 |
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83,351 |
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At December 28, 2013 |
$ |
11.95 |
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162,736 |
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7.5 |
|
$ |
582,894 |
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|
181,017 |
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Granted February 20, 2014 |
$ |
14.76 |
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|
13,790 |
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(13,790 |
) |
Exercised |
$ |
11.23 |
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(17,074 |
) |
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Expired |
$ |
13.70 |
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(2,157 |
) |
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2,157 |
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At January 3, 2015 |
$ |
12.25 |
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157,295 |
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6.9 |
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852,810 |
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|
169,384 |
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Exercisable options |
$ |
11.73 |
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|
56,787 |
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6.4 |
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$ |
337,467 |
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Options expected to vest: |
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Grant Date Fair Value |
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At December 29, 2012 |
$ |
11.97 |
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191,740 |
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8.9 |
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$ |
6.40 |
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Granted February 7, 2013 |
$ |
13.70 |
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40,594 |
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$ |
6.30 |
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Vested |
$ |
11.49 |
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(27,347 |
) |
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Forfeited unvested options |
12.71 |
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(82,842 |
) |
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At December 28, 2013 |
$ |
12.18 |
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122,145 |
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7.8 |
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$ |
7.19 |
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Granted February 20, 2014 |
$ |
14.76 |
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13,790 |
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$ |
6.70 |
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Vested |
$ |
11.98 |
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(33,702 |
) |
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Forfeited unvested options |
$ |
13.70 |
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(1,725 |
) |
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At January 3, 2015 |
$ |
12.54 |
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|
100,508 |
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|
7.2 |
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$ |
6.76 |
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| Stock options by exercise price range |
The following table summarizes information about stock options outstanding at January 3, 2015:
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Range of Exercise Prices |
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Outstanding Stock Options |
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Exercisable Stock Options |
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Shares |
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Weighted Average |
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Shares |
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Weighted Average Exercise Price |
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Exercise Price |
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Remaining Contractual Life in Years |
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$ |
11.55 |
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82,342 |
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$ |
11.55 |
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6.05 |
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42,342 |
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$ |
11.55 |
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$ |
11.35 |
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27,996 |
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$ |
11.35 |
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7.09 |
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8,912 |
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$ |
11.35 |
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$ |
13.70 |
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33,167 |
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$ |
13.70 |
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8.09 |
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5,533 |
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$ |
13.70 |
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$ |
14.76 |
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13,790 |
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$ |
14.76 |
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|
9.13 |
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— |
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157,295 |
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56,787 |
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| Summary of Stock Awards Plan activity |
A summary of plan activity for 2012, 2013 and 2014 is as follows:
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Shares |
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Weighted Average
Grant Date Fair Value
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Outstanding at December 31, 2011 |
43,572 |
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$ |
11.39 |
|
Vested |
(11,099 |
) |
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$ |
12.60 |
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Forfeited |
— |
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Outstanding at December 29, 2012 |
32,473 |
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|
$ |
10.98 |
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Vested |
(8,161 |
) |
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$ |
11.06 |
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Forfeited |
(5,060 |
) |
|
10.20 |
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Outstanding at December 28, 2013 |
19,252 |
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$ |
11.15 |
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Granted October 16, 2014 |
31,080 |
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$ |
15.69 |
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Granted November 21, 2014 |
23,665 |
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$ |
15.85 |
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Vested |
(7,434 |
) |
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$ |
10.60 |
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Forfeited |
(160 |
) |
|
$ |
13.34 |
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Outstanding at January 3, 2015 |
66,403 |
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|
$ |
15.00 |
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