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Net Income per Share | 9 Months Ended
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Dec. 24, 2021
Earnings Per Share [Abstract] |
Net Income per Share | Net Income per Share In connection with completion of the Company’s IPO on November 2, 2020 and immediately following the pricing of the IPO, all outstanding shares of Class A common stock and Class L common stock were automatically converted into an aggregate of 166,500,000 shares of common stock (the “Common Stock Conversion”). Outstanding shares of Class A and Class L common stock were converted to common stock in the Common Stock Conversion at conversion rates of approximately 15.822 and 13.010 shares of common stock to each share of Class A and Class L common stock, respectively. As part of the Common Stock Conversion, 2,066,508 and 1,766 shares of common stock were returned to the Company for tax payments made on behalf of holders of Class A common stock and Class L common stock, respectively, in withhold to cover tax transactions. Prior to the Company’s IPO, shares of Class A common stock were entitled to a priority dividend of 8%. After Class A shareholders received an annualized return on capital of 8%, distributions of the remaining value were split between Class A and Class L shareholders based on the achievement of certain return targets. In determining income to the Class A stockholders for computing basic and diluted earnings per share for the three- and nine-month periods ended December 25, 2020, the Company did not allocate income to the shares of Class L common stock in accordance with ASC 260, because such classes of shares would not have shared in the distribution had all of the income for the periods been distributed. Accordingly, earnings per share calculations were provided only for the Class A shares with a weighted average of 124,363,078 shares for the three-month period ended December 25, 2020. The following table sets forth the basic and diluted net income attributable to Allegro MicroSystems, Inc. per share. The number of shares of common stock reflected in the calculation is the total shares of common stock (vested and unvested) held on the IPO date, after the Common Stock Conversion.
| Three-Month Period Ended |  | Nine-Month Period Ended
| December 24, 2021 |  | December 25, 2020 |  | December 24, 2021 |  | December 25, 2020
Net income attributable to Allegro MicroSystems, Inc. | $ | 32,936 |  |  | $ | (5,095) |  |  | $ | 93,791 |  |  | $ | 9,309 |
Net income attributable to common stockholders | 32,973 |  |  | (5,060) |  |  | 93,903 |  |  | 9,412 |
Basic weighted average shares of common stock | 189,736,901 |  |  | 124,363,078 |  |  | 189,665,324 |  |  | 48,121,026 |
Dilutive effect of common stock equivalents | 2,331,321 |  |  | — |  |  | 2,013,627 |  |  | 123,517,761 |
Diluted weighted average shares of common stock | 192,068,222 |  |  | 124,363,078 |  |  | 191,678,951 |  |  | 171,638,787 |
Basic net income attributable to Allegro MicroSystems, Inc. per share | $ | 0.17 |  |  | $ | (0.04) |  |  | $ | 0.49 |  |  | $ | 0.19 |
Basic net income attributable to common stockholders per share | $ | 0.17 |  |  | $ | (0.04) |  |  | $ | 0.50 |  |  | $ | 0.20 |
Diluted net income attributable to Allegro MicroSystems, Inc. per share | $ | 0.17 |  |  | $ | (0.04) |  |  | $ | 0.49 |  |  | $ | 0.05 |
Diluted net income attributable to common stockholders per share | $ | 0.17 |  |  | $ | (0.04) |  |  | $ | 0.49 |  |  | $ | 0.05 |
The computed net income per share for the three- and nine-month periods ended December 24, 2021 and December 25, 2020 does not assume conversion of securities that would have an antidilutive effect on income per share. As the Company was in a net loss position for the three-month period ended December 25, 2020, common stock equivalents of 57,553,282 were deemed antidilutive. The following table represents issuable weighted average share information for the respective periods:
| Three-Month Period Ended |  | Nine-Month Period Ended
| December 24, 2021 |  | December 25, 2020 |  | December 24, 2021 |  | December 25, 2020
Restricted stock units | 1,199,816 |  |  | 377,767 |  |  | 1,046,229 |  |  | 125,922 |
Performance stock units | 1,117,532 |  |  | 422,768 |  |  | 959,084 |  |  | 140,923 |
Employee stock purchase plan | 13,973 |  |  | — |  |  | 8,314 |  |  | — |
Shares related to Common Stock Conversion | — |  |  | 56,752,747 |  |  | — |  |  | 123,250,916 |
Total | 2,331,321 |  |  | 57,553,282 |  |  | 2,013,627 |  |  | 123,517,761 |

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