Quarterly report pursuant to Section 13 or 15(d)

Capital Stock

v3.20.2
Capital Stock
 9 Months Ended
Sep. 27, 2020
Equity [Abstract]  
Capital Stock

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

 

$

28,195,300

 

 

$

508

 

New share issuance-vested stock awards

 

 

19,500

 

 

 

-

 

Balance September 27, 2020

 

$

28,214,800

 

 

$

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 nine months ended September 27, 2020, there were no stock options granted, exercised or forfeited. A summary of stock option activity for the nine months ended September 27, 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 September 27, 2020

 

 

2,344,374

 

 

 

2.14

 

 

 

2,049

 

 

 

7.2

 

Exercisable at September 27, 2020

 

 

1,088,140

 

 

 

1.55

 

 

 

2,024

 

 

 

6.5

 

 

During the three-month periods ended September 27, 2020 and September 29, 2019, the Company recorded stock-based compensation expense related to stock options and a corresponding increase in additional paid-in capital of $57 and $57, respectively. During the nine months ended September 27, 2020 and September 29, 2019, the Company recorded stock-based compensation expense related to stock options and a corresponding increase in additional paid-in capital of $172 and $120, 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 nine months ended September 27, 2020, 178,000 RSUs were granted. A summary of the RSU activity for the nine months ended September 27, 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

 

 

178,000

 

 

 

2.92

 

 

 

 

 

RSU vested and issued in common shares

 

 

(19,500

)

 

 

1.28

 

 

 

 

 

RSU forfeited

 

 

(27,500

)

 

 

(1.28

)

 

 

 

 

Outstanding at September 27, 2020

 

 

479,000

 

 

 

3.14

 

 

 

2.18

 

 

Stock based compensation recognized during the three-month period ended September 27, 2020 and September 29, 2019 related to the restricted stock units was $101 and $296, respectively.  Stock based compensation recognized during the nine months ended September 27, 2020, and September 29, 2019, related to the restricted stock units was $303 and $418, respectively.