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Common Stock and Stock-Based Compensation | 9 Months Ended
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Dec. 29, 2023
Share-Based Payment Arrangement [Abstract] |
Common Stock and Stock-Based Compensation | 13. Common Stock and Stock-Based Compensation Restricted Stock Units The following table summarizes the Company’s RSU activity for the nine-months ended December 29, 2023:
|  | Shares |  |  | Weighted-Average Grant Date Fair Value |
Outstanding at March 31, 2023 |  |  | 2,251,224 |  |  | $ | 23.85 |
Granted |  |  | 1,093,856 |  |  |  | 36.25 |
Issued |  |  | (897,837 | ) |  |  | 23.11 |
Forfeited |  |  | (82,938 | ) |  |  | 27.20 |
Outstanding at December 29, 2023 |  |  | 2,364,305 |  |  | $ | 29.78 |
As of December 29, 2023, total unrecognized compensation expense for awards issued was $51,039, which is expected to be recognized over a weighted-average period of 2.25 years. The total grant date fair value of RSUs vested was $20,696 for the nine-months ended December 29, 2023. Performance Stock Units The following table summarizes the Company’s PSU activity for the nine-months ended December 29, 2023:
|  | Shares |  |  | Weighted-Average Grant Date Fair Value |
Outstanding at March 31, 2023 |  |  | 2,748,347 |  |  | $ | 23.47 |
Granted |  |  | 333,333 |  |  |  | 39.06 |
Excess shares issued due to achievement of performance conditions |  |  | 500,451 |  |  |  | 17.65 |
Issued |  |  | (1,062,884 | ) |  |  | 21.43 |
Forfeited |  |  | (86,539 | ) |  |  | 23.70 |
Outstanding at December 29, 2023 |  |  | 2,432,708 |  |  | $ | 25.64 |
Included in the outstanding shares are 396,171 and 76,306 shares as of March 31, 2023 and December 29, 2023, respectively, that have vested but have not been issued. PSUs are included at 0% - 200% of target goals. The total compensation cost related to unvested awards not yet recorded at December 29, 2023 was $19,537, which is expected to be recognized over a weighted average period of 2.07 years. The total grant date fair value of PSUs vested was $22,777 for the nine-months ended December 29, 2023. The Company recorded stock-based compensation expense in the following expense categories of its unaudited condensed consolidated statements of operations:
|  | Three-Month Period Ended |  |  | Nine-Month Period Ended |
|  | December 29, 2023 |  |  | December 23, 2022 |  |  | December 29, 2023 |  |  | December 23, 2022 |
Cost of sales |  | $ | 1,073 |  |  | $ | 1,156 |  |  | $ | 4,625 |  |  | $ | 3,112 |
Research and development |  |  | 3,870 |  |  |  | 3,174 |  |  |  | 10,340 |  |  |  | 6,013 |
Selling, general and administrative |  |  | 5,977 |  |  |  | 4,572 |  |  |  | 17,874 |  |  |  | 42,117 |
Total stock-based compensation |  | $ | 10,920 |  |  | $ | 8,902 |  |  | $ | 32,839 |  |  | $ | 51,242 |

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