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Stockholders' Equity and Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 29, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Share repurchases | Shares repurchased and retired in the years ended December 29, 2018 and December 30, 2017 under the Stock Repurchase Plan, with the associated cost of repurchase and amount available for repurchase were as follows (in thousands, except number of shares and weighted average price per share):
|  | Fiscal Year 2018 |  |  | Fiscal Year 2017 |
Number of shares of common stock repurchased |  |  | 896,187 |  |  |  | 1,065,848 |
Weighted average price per share |  | $ | 25.65 |  |  | $ | 25.33 |
Total cost of repurchase |  | $ | 22,987 |  |  | $ | 26,999 |
Amount available for repurchase at end of period |  |  | — |  |  | $ | 23,001 |
Option plans | The Nanometrics option plans are as follows:
Plan Name |  | Participants |  | Shares Authorized |
2005 Equity Incentive Plan |  | Employees, consultants and directors |  |  | 8,292,594 |
2000 Employee Stock Option Plan |  | Employees and consultants |  |  | 2,450,000 |
2000 Director Stock Option Plan |  | Non-employee directors |  |  | 250,000 |
Accent Optical Technologies, Inc. Stock Incentive Plan |  | Employees and consultants |  |  | 205,003 |
Employee stock purchase plan assumptions | The weighted-average fair value calculations are based on the following average assumptions:
|  | Fiscal Year 2018 |  |  | Fiscal Year 2017 |  |  | Fiscal Year 2016 |
Employee Stock Purchase Plan: |  |  |  |  |  |  |  |  |  |  |  |
Expected life |  | 0.5 years |  |  | 0.5 years |  |  | 0.5 years |
Volatility |  | 52.46% |  |  | 37.2% |  |  | 38.7% |
Risk free interest rate |  | 2.14% |  |  | 0.91% |  |  | 0.44% |
Dividends |  | — |  |  | — |  |  | — |
Stock option plans activity | A summary of activity of stock options is as follows:
|  | Number of Shares Outstanding (Options) |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value (in Thousands) |
Options |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2016 |  |  | 440,545 |  |  | $ | 15.06 |  |  |  | 2.12 |  |  | $ | 4,405 |
Exercised |  |  | (223,364 | ) |  |  | 13.35 |  |  |  |  |  |  |  |  |
Cancelled/Forfeited |  |  | (855 | ) |  |  | 16.63 |  |  |  |  |  |  |  |  |
Outstanding at December 30, 2017 |  |  | 216,326 |  |  |  | 16.82 |  |  |  | 1.76 |  |  | $ | 1,752 |
Exercised |  |  | (132,932 | ) |  |  | 17.46 |  |  |  |  |  |  |  |  |
Cancelled/Forfeited |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Outstanding at December 29, 2018 |  |  | 83,394 |  |  | $ | 15.80 |  |  |  | 1.19 |  |  | $ | 988 |
Exercisable at December 29, 2018 |  |  | 83,394 |  |  | $ | 15.80 |  |  |  | 1.19 |  |  | $ | 988 |
Ranges of outstanding and exercisable options | The following table summarizes ranges of outstanding and exercisable options as of December 29, 2018.
|  | Options Outstanding |  |  | Options Exercisable |
Exercise Prices |  | Number Outstanding |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Weighted Average Exercise Price |  |  | Number Exercisable |  |  | Weighted Average Exercise Price |
$12.98 - $14.59 |  |  | 1,694 |  |  |  | 1.58 |  |  | $ | 14.03 |  |  |  | 1,694 |  |  | $ | 14.03 |
$14.95 - $14.95 |  |  | 1,025 |  |  |  | 1.49 |  |  |  | 14.95 |  |  |  | 1,025 |  |  |  | 14.95 |
$15.00 - $15.00 |  |  | 10,000 |  |  |  | 0.62 |  |  |  | 15.00 |  |  |  | 10,000 |  |  |  | 15.00 |
$15.61 - $15.61 |  |  | 2,500 |  |  |  | 1.09 |  |  |  | 15.61 |  |  |  | 2,500 |  |  |  | 15.61 |
$15.65 - $15.65 |  |  | 3,375 |  |  |  | 1.21 |  |  |  | 15.65 |  |  |  | 3,375 |  |  |  | 15.65 |
$15.85 - $15.85 |  |  | 60,000 |  |  |  | 1.20 |  |  |  | 15.85 |  |  |  | 60,000 |  |  |  | 15.85 |
$16.00 - $16.00 |  |  | 100 |  |  |  | 1.72 |  |  |  | 16.00 |  |  |  | 100 |  |  |  | 16.00 |
$17.33 - $17.33 |  |  | 2,500 |  |  |  | 1.87 |  |  |  | 17.33 |  |  |  | 2,500 |  |  |  | 17.33 |
$18.22 - $18.22 |  |  | 1,200 |  |  |  | 2.16 |  |  |  | 18.22 |  |  |  | 1,200 |  |  |  | 18.22 |
$18.79 - $18.79 |  |  | 1,000 |  |  |  | 2.24 |  |  |  | 18.79 |  |  |  | 1,000 |  |  |  | 18.79 |
|  |  | 83,394 |  |  |  |  |  |  |  |  |  |  |  | 83,394 |  |  |  |  |
Summary of activity for RSUs | A summary of activity for RSUs is as follows:
Summary of activity for RSUs |  | Number of RSUs |  |  | Weighted Average Fair Value |
Outstanding RSUs as of December 31, 2016 |  |  | 819,785 |  |  | $ | 16.79 |
Granted |  |  | 454,600 |  |  |  | 27.12 |
Released |  |  | (387,592 | ) |  |  | 16.81 |
Cancelled |  |  | (96,494 | ) |  |  | 19.01 |
Outstanding RSUs as of December 30, 2017 |  |  | 790,299 |  |  |  | 22.46 |
Granted |  |  | 484,087 |  |  |  | 36.57 |
Released |  |  | (362,762 | ) |  |  | 20.79 |
Cancelled |  |  | (142,621 | ) |  |  | 26.44 |
Outstanding RSUs as of December 29, 2018 |  |  | 769,003 |  |  | $ | 31.39 |
Summary of activity for PSUs | A summary of activity for PSUs is as follows:
Summary of activity for PSUs |  | Number of PSUs |  |  | Weighted Average Fair Value |
Outstanding PSUs as of December 31, 2016 |  |  | 107,500 |  |  | $ | 9.94 |
Granted |  |  | 122,050 |  |  |  | 20.51 |
Released |  |  | (38,500 | ) |  |  | 10.41 |
Cancelled |  |  | (61,100 | ) |  |  | 19.41 |
Outstanding PSUs as of December 30, 2017 |  |  | 129,950 |  |  |  | 15.60 |
Granted |  |  | 63,133 |  |  |  | 24.45 |
Released |  |  | (47,929 | ) |  |  | 12.10 |
Cancelled |  |  | (32,991 | ) |  |  | 24.52 |
Outstanding PSUs as of December 29, 2018 |  |  | 112,163 |  |  | $ | 22.37 |
PSUs valuation assumptions | The assumptions for the valuation of PSUs are summarized as follows:
|  | 2018 Award |  | 2017 Award |  | 2016 Award |
Grant Date Fair Value Per Share |  | $20.73-$25.18 |  | $14.57-$26.75 |  | $ | 8.52 |
Weighted-average assumptions/inputs: |  |  |  |  |  |  |  |
Expected Dividend |  | — |  | — |  | — |
Range of risk-free interest rates |  | 2.39%-2.63% |  | 1.74%-1.84% |  | 0.92% |
Range of expected volatilities for peer group |  | 22%-66% |  | 22%-66% |  | 22%-93% |
Stock-based compensation expense for all share-based payment awards | Stock-based compensation expense for all share-based payment awards made to the Company’s employees and directors pursuant to the employee stock option and employee stock purchase plans by function were as follows (in thousands):
|  | Fiscal Year 2018 |  |  | Fiscal Year 2017 |  |  | Fiscal Year 2016 |
Cost of products |  | $ | 704 |  |  | $ | 842 |  |  | $ | 403 |
Cost of service |  |  | 772 |  |  |  | 616 |  |  |  | 509 |
Research and development |  |  | 2,450 |  |  |  | 1,720 |  |  |  | 1,408 |
Selling |  |  | 2,786 |  |  |  | 2,323 |  |  |  | 2,046 |
General and administrative |  |  | 4,670 |  |  |  | 3,318 |  |  |  | 3,300 |
Total stock-based compensation expense related to employee stock options and employee stock purchases |  | $ | 11,382 |  |  | $ | 8,819 |  |  | $ | 7,666 |
Stock Options, RSUs and PSUs [Member] |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Stock option plans activity including options, RSUs and PSUs | A summary of activity under the Company’s stock option plans including options, RSUs and PSUs during fiscal year 2018, 2017 and 2016 and shares available for grant as of the respective period end dates, is as follows:
|  | Fiscal Year 2018 |  |  | Fiscal Year 2017 |  |  | Fiscal Year 2016 |
Shares available for grant at beginning of fiscal year |  |  | 1,874,765 |  |  |  | 1,334,581 |  |  |  | 1,916,589 |
Additional Shares Authorized |  |  | — |  |  |  | 1,000,000 |  |  |  | — |
Options - cancelled |  |  | — |  |  |  | 855 |  |  |  | 176,587 |
Options - expired plan shares |  |  | — |  |  |  | — |  |  |  | (116,192 | )
RSUs - granted |  |  | (822,948 | ) |  |  | (772,820 | ) |  |  | (810,334 | )
RSUs - cancelled |  |  | 242,456 |  |  |  | 164,040 |  |  |  | 92,230 |
RSUs - shares issued to satisfy tax withholding obligations |  |  | - |  |  |  | 251,724 |  |  |  | 179,117 |
PSUs - granted |  |  | (107,327 | ) |  |  | (207,485 | ) |  |  | (114,750 | )
PSUs - cancelled |  |  | 56,085 |  |  |  | 103,870 |  |  |  | 11,334.00 |
Shares available for grant at end of fiscal year |  |  | 1,243,031 |  |  |  | 1,874,765 |  |  |  | 1,334,581 |

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