| Summary of Activity of Restricted Stock Units |
The following table summarizes activity of RSUs and PSUs issued under the Plan during the year ended January 1, 2024:
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Service Condition |
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Performance Condition |
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Market Condition |
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Restricted Stock Units |
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Weighted
Average
Grant Date
Fair Value
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Restricted Stock Units |
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Weighted
Average
Grant Date
Fair Value
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Restricted Stock Units |
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Weighted
Average
Grant Date
Fair Value
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| Non-vested at January 2, 2023 |
162,000
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$ |
14.65
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1,051,100
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$ |
12.62
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232,500
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$ |
5.34
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| Granted |
330,960 |
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1.30 |
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496,000 |
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1.19 |
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— |
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— |
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| Vested |
(358,595) |
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5.25 |
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(283,487) |
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13.66 |
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(52,500) |
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$ |
6.40 |
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| Forfeited |
(84,365) |
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1.59 |
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(191,063) |
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5.85 |
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(140,000) |
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5.38 |
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Non-vested at January 1, 2024 |
50,000
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$ |
15.70
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1,072,550
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$ |
8.27
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40,000
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3.37
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Performance Condition |
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Service Condition |
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Restricted Stock Units |
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Weighted
Average
Grant Date
Fair Value
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Restricted Stock Units |
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Weighted
Average
Grant Date
Fair Value
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| Non-vested at January 2, 2023 |
—
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$ |
—
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—
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$ |
—
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| Granted |
700,000 |
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$ |
1.57 |
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700,000 |
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$ |
1.57 |
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| Vested |
— |
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— |
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— |
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— |
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| Forfeited |
— |
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— |
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— |
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— |
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Non-vested at January 1, 2024 |
700,000
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$ |
1.57
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700,000
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$ |
1.57
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January 1, 2024 |
January 2, 2023 |
| Risk-free interest rate |
4.25 |
% |
4.14 |
% |
| Expected life in years |
2.0 |
3.0 |
| Expected volatility |
98.0 |
% |
68.0 |
% |
| Expected dividend yield |
0 |
% |
0 |
% |
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