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Share-Based Compensation | 6 Months Ended
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Jun. 29, 2024
Share-Based Payment Arrangement [Abstract] |
Share-Based Compensation | NOTE 9. Share-Based Compensation Restricted Stock Unit Activity A summary of the Company’s restricted stock unit activity with respect to the six months ended June 29, 2024 is as follows:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Nonvested at December 30, 2023 |  |  | 584 |  |  | $ | 85.41 |
Granted |  |  | 156 |  |  | $ | 192.42 |
Vested |  |  | (309 | ) |  | $ | 81.01 |
Forfeited |  |  | (7 | ) |  | $ | 87.90 |
Nonvested at June 29, 2024 |  |  | 424 |  |  | $ | 127.98 |
Of the 424 nonvested shares outstanding at June 29, 2024, 342 are service-based RSUs and 82 are market-based PRSUs. The fair value of the Company’s service-based RSUs was calculated based on the fair market value of the Company’s stock at the date of grant. The fair value of the Company’s market-based PRSUs granted during fiscal years 2024 and 2023 was calculated using a Monte Carlo simulation model at the date of the grant, resulting in a weighted average grant-date fair value per share of $251.51 and $100.79, respectively. As of June 29, 2024 and December 30 2023, there was $39,921 and $26,559 of total unrecognized compensation cost related to restricted stock units granted under the Company’s stock plans, respectively. That cost is expected to be recognized over a weighted average period of 1.6 years and 1.4 years for June 29, 2024 and December 30, 2023, respectively.

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