Quarterly report pursuant to Section 13 or 15(d)

Note 5 - Capital Stock

v3.20.1
Note 5 - Capital Stock
 3 Months Ended
Mar. 29, 2020
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
5
.
Capital stock
 
 
Common shares
 
Issued and outstanding:
 
The issued and outstanding number of common shares included in shareholders’ equity consisted of the following:
 
   
Number

of shares
    
$
 
                 
Balance at December 29, 2019 and March 29, 2020
    
28,195,300
     $
508
  
 
 
 
Stock Options
 
For more detailed information regarding the Company’s stock option arrangements, see Note
7
of the consolidated financial statements within the Company’s Form
10
-K for the fiscal period ended
December 29, 2019.
During the
three
month period ended
March 29, 2020,
there were
no
stock options granted, exercised or forfeited. A summary of stock option activity for the
three
month period ended
March 29, 2020
is as follows:
 
   
Number

of options
    
Weighted
average
exercise
price
    
Aggregate
intrinsic
value
    
Weighted
average
remaining
contractual
term (years)
  
Outstanding at December 29, 2019
    
2,344,374
     $
2.14
      
2,016
      
7.9
  
                                 
Options granted
    
—
      
—
      
—
      
—
  
Options exercised
    
—
      
—
      
—
      
—
  
Options forfeited
    
—
      
—
      
—
      
—
  
Outstanding at March 29, 2020
    
2,344,374
      
2.14
      
897
      
7.7
  
Exercisable at March 29, 2020
    
1,088,140
      
1.55
      
897
      
7.0
  
 
 
During the
three
month periods ended
March 29, 2020
and
March 31, 2019,
the Company recorded stock-based compensation expense related to stock options and a corresponding increase in additional paid-in capital of
$57
and
$22,
respectively.
 
Certain stock options outstanding have market conditions such that the awards are vested and exercisable only if the Company’s stock exceeds specified targets during the vesting period. If the market conditions are
not
met, the stock options will
not
vest and will expire.
 
Restricted Stock Units
and Restricted Stock Awards
 
For more detailed information regarding the Company’s Restricted Stock Units (“RSU”) and Restricted Stock Awards (“RSA”) arrangements, see Note
7
of the consolidated financial statements within the Company’s Form
10
-K for the fiscal period ended
December 29, 2019.
During the
three
months period ended
March 29, 2020,
28,000
RSUs were granted. A summary of the RSU activity for the
three
month period ended
March 29, 2020
is as follows:
 
   
Outstanding
RSU
    
Weighted
average
stock
price
    
Weighted
average
remaining
contractual
term (years)
  
Outstanding balance at December 29, 2019
    
348,000
     $
3.16
      
2.23
  
RSU granted
    
28,000
      
2.27
      
 
  
RSU vested and issued in common shares
    
—
      
—
      
 
  
RSU forfeited
    
—
      
—
      
 
  
Outstanding balance at March 29, 2020
    
376,000
      
3.09
      
2.37
  
 
 
Certain RSUs outstanding have a market condition such that the awards are vested and issuable only if the market price of the Company’s stock meets or exceeds a specified target during the vesting period. If the market condition is
not
met, the RSUs will
not
vest and will be forfeited.
 
Stock based compensation recognized during the
three
month period ended
March 29, 2020,
and
March 31, 2019,
related to the restricted stock units was
$105
and
$66,
respectively.