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Stock-Based Compensation Expense (Tables) | 3 Months Ended
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Apr. 04, 2021
Share-based Payment Arrangement [Abstract] |
Summary of Stock Option Activity | The following table summarizes the Company’s stock option activity for the three-month period ended April 4, 2021:
| Shares (in thousands) |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2020 | 8,970 |  |  | $ | 44.73 |  |  |  |  |
Granted | 421 |  |  | 90.50 |  |  |  |  |
Exercised | (897) |  |  | 38.82 |  |  |  |  |
Forfeited or expired | (42) |  |  | 48.68 |  |  |  |  |
Outstanding as of April 4, 2021 | 8,452 |  |  | $ | 47.62 |  |  | 7.11 |  | $ | 312,675 |
Exercisable as of April 4, 2021 | 3,824 |  |  | $ | 38.18 |  |  | 5.92 |  | $ | 176,405 |
Options vested or expected to vest as of April 4, 2021 (1) | 7,733 |  |  | $ | 46.78 |  |  | 7.00 |  | $ | 292,344 |
(1) In addition to the vested options, the Company expects a portion of the unvested options to vest at some point in the future. Options expected to vest are calculated by applying an estimated forfeiture rate to the unvested options.
Weighted-Average Assumptions Used in Estimating Fair Values of Stock Options Granted | The fair values of stock options granted in each period presented were estimated using the following weighted-average assumptions:
| Three-months Ended |  |
| April 4, 2021 |  | March 29, 2020 |  |  |  |
Risk-free rate | 1.3 | % |  | 1.6 | % |  |  |  |
Expected dividend yield | 0.27 | % |  | 0.43 | % |  |  |  |
Expected volatility | 39 | % |  | 37 | % |  |  |  |
Expected term (in years) | 5.7 |  | 6.0 |  |  |  |
Schedule of Nonvested Restricted Stock Units Activity | The following table summarizes the Company's RSUs activity for the three-month period ended April 4, 2021:
| Shares (in thousands) |  | Weighted-Average Grant Date Fair Value
Nonvested as of December 31, 2020 | 554 |  |  | $ | 51.27 |
Granted | 245 |  |  | 89.86 |
Vested | (2) |  |  | 50.94 |
Forfeited or expired | (15) |  |  | 52.22 |
Nonvested as of April 4, 2021 | 782 |  |  | $ | 63.33 |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | The following table presents the stock-based compensation expense by caption for each period presented on the Consolidated Statements of Operations (in thousands):
| Three-months Ended |  |
| April 4, 2021 |  | March 29, 2020 |  |  |  |
Cost of revenue | $ | 248 |  |  | $ | 354 |  |  |  |  |
Research, development, and engineering | 4,003 |  |  | 5,366 |  |  |  |  |
Selling, general, and administrative | 7,758 |  |  | 9,070 |  |  |  |  |
| $ | 12,009 |  |  | $ | 14,790 |  |  |  |  |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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