| 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
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At January 2, 2010 |
$ |
8.92 |
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82,993 |
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4.5 |
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$ |
76,923 |
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— |
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Exercised |
$ |
4.97 |
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(9,900 |
) |
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Canceled / Expired |
$ |
9.96 |
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(29,093 |
) |
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— |
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At January 1, 2011 |
$ |
9.13 |
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44,000 |
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3.6 |
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$ |
131,670 |
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— |
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2011 option plan |
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350,000 |
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Granted January 24, 2011 |
$ |
11.55 |
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100,000 |
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(100,000 |
) |
Exercised |
$ |
9.15 |
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(19,200 |
) |
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Canceled / Expired |
$ |
9.96 |
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(4,000 |
) |
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— |
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At December 31, 2011 |
$ |
11.28 |
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120,800 |
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8.0 |
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$ |
6,448 |
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250,000 |
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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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Canceled / 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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Exercisable options |
$ |
10.84 |
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29,000 |
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5.4 |
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$ |
76,930 |
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Options expected to vest: |
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Grant Date Fair Value |
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At January 1, 2011 |
$ |
— |
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— |
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— |
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$ |
— |
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Granted January 24, 2011 |
$ |
11.55 |
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100,000 |
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$ |
7.93 |
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Vested |
$ |
— |
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— |
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At December 31, 2011 |
$ |
11.55 |
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100,000 |
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9.1 |
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$ |
7.93 |
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Granted February 9, 2012 |
$ |
11.35 |
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36,740 |
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$ |
5.03 |
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Granted August 21, 2012 |
$ |
12.73 |
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75,000 |
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$ |
5.44 |
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Vested |
$ |
11.55 |
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(20,000 |
) |
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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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| Stock options by exercise price range |
The following table summarizes information about stock options outstanding at December 29, 2012:
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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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$ |
9.96 |
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13,000 |
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$ |
9.96 |
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2.09 |
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13,000 |
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$ |
9.96 |
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$ |
11.35 |
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36,740 |
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$ |
11.35 |
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|
9.11 |
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— |
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$ |
11.55 |
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96,000 |
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$ |
11.55 |
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8.07 |
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16,000 |
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$ |
11.55 |
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$ |
12.73 |
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75,000 |
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$ |
12.73 |
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9.64 |
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— |
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220,740 |
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29,000 |
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| Summary of Stock Awards Plan activity |
A summary of plan activity for 2010, 2011 and 2012 is as follows:
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Shares |
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Weighted Average
Grant Date Fair Value
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Outstanding at January 2, 2010 |
23,134 |
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$ |
17.62 |
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Granted February 24, 2010 |
51,500 |
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$ |
7.88 |
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Vested |
(7,059 |
) |
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$ |
19.30 |
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Forfeited |
(19,235 |
) |
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$ |
8.89 |
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Outstanding at January 1, 2011 |
48,340 |
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$ |
10.47 |
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Granted January 24, 2011 |
13,420 |
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$ |
11.55 |
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Granted February 9, 2011 |
13,300 |
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$ |
13.34 |
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Vested |
(12,290 |
) |
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$ |
12.81 |
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Forfeited |
(19,198 |
) |
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$ |
9.62 |
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Outstanding at December 31, 2011 |
43,572 |
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$ |
11.39 |
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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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