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Share-Based Compensation | 9 Months Ended
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Sep. 28, 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 nine months ended September 28, 2024 is as follows:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Nonvested at December 30, 2023 |  |  | 584 |  |  | $ | 85.41 |
Granted |  |  | 163 |  |  | $ | 192.34 |
Vested |  |  | (320 | ) |  | $ | 81.12 |
Forfeited |  |  | (13 | ) |  | $ | 98.60 |
Nonvested at September 28, 2024 |  |  | 414 |  |  | $ | 130.34 |
Of the 414 nonvested shares outstanding at September 28, 2024, 332 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 September 28, 2024 and December 30, 2023, there was $34,231 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 1.4 years following both September 28, 2024 and December 30, 2023, respectively.

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