|3 Months Ended|
Mar. 28, 2021
|Share-based Payment Arrangement [Abstract]|
|Stock-Based Compensation||Stock-Based Compensation
The Company has outstanding awards under the Chuy's Holdings, Inc. 2006 Stock Option Plan ("the "2006" Plan), the 2012 Plan and the 2020 Plan. On July 30, 2020, the Company’s stockholders approved the 2020 Plan, which replaced the 2012 Plan and no further awards may be granted under the 2012 plan. The termination of the 2012 Plan did not affect outstanding awards granted under the 2012 Plan. The 2006 Plan was terminated by the board effective July 27, 2012, and no further awards may be granted under the plan after such date. The termination of the 2006 Plan did not affect outstanding awards granted under the 2006 Plan. Options granted under these plans vest over five years from the date of grant and have a maximum term of ten years. As of March 28, 2021 the Company had 63,846 of stock options outstanding and exercisable with a remaining weighted average contractual term of approximately two years.
Restricted stock units granted under the 2012 Plan and 2020 Plan vest over to five years from the date of grant. As of March 28, 2021, a total of 1,022,450 shares of common stock were reserved and remained available for issuance under the 2020 Plan.
Stock-based compensation expense recognized in the accompanying condensed consolidated income statements was approximately $944,000 and $856,000 for the thirteen weeks ended March 28, 2021 and March 29, 2020, respectively.
A summary of stock-based compensation activity related to restricted stock units for the thirteen weeks ended March 28, 2021 are as follows:
The fair value of the restricted stock units is the quoted market value of our common stock on the date of grant. As of March 28, 2021, total unrecognized stock-based compensation expense related to non-vested restricted stock units was approximately $10.1 million. This amount is expected to be recognized evenly over the remaining vesting period of the grants.
The entire disclosure for share-based payment arrangement.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef