| 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 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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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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Canceled / 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 |
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582,894 |
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181,017 |
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Exercisable options |
$ |
11.26 |
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40,591 |
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6.8 |
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$ |
173,518 |
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Options expected to vest: |
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Grant Date Fair Value |
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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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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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| Stock options by exercise price range |
The following table summarizes information about stock options outstanding at December 28, 2013:
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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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5,000 |
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$ |
9.96 |
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1.09 |
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5,000 |
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$ |
9.96 |
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$ |
11.55 |
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91,000 |
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$ |
11.55 |
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7.07 |
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16,000 |
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$ |
11.55 |
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$ |
11.35 |
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30,037 |
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$ |
11.35 |
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8.12 |
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19,591 |
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$ |
11.35 |
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$ |
13.70 |
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36,699 |
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$ |
13.70 |
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|
9.11 |
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— |
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162,736 |
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40,591 |
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| Summary of Stock Awards Plan activity |
A summary of plan activity for 2011, 2012 and 2013 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 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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Vested |
(8,161 |
) |
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$ |
11.06 |
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Forfeited |
(5,060 |
) |
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$ |
10.20 |
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Outstanding at December 28, 2013 |
19,252 |
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$ |
11.15 |
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