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Share-Based Compensation | 3 Months Ended
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Apr. 26, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract] |
Share-Based Compensation | Share-Based Compensation Financial Statement Effects and Presentation Pre-tax share-based compensation was included in the Statements of Income as follows:
| Three Months Ended
(in thousands) | April 26, 2020 |  | April 28, 2019
Cost of sales | $ | 530 |  |  | $ | 427 |
Selling, general and administrative | 5,959 |  |  | 8,939 |
Product development and engineering | 2,890 |  |  | 2,612 |
Total share-based compensation | $ | 9,379 |  |  | $ | 11,978 |
Total Stockholder Return ("TSR") Market-Condition Restricted Stock Units The Company grants TSR market-condition restricted stock units (the "TSR Awards") to certain executives of the Company. The TSR Awards have a pre-defined market condition, which determines the number of shares that ultimately vest, as well as a service condition. The TSR Awards are valued as of the measurement date using a Monte Carlo simulation which takes into consideration the possible outcomes pertaining to the TSR market condition and expense is recognized on a straight line basis over the vesting periods and is adjusted for any actual forfeitures. In the first quarter of fiscal year 2021, the Company granted 137,224 TSR Awards, which are accounted for as equity awards. The market condition is determined based upon the Company’s total stockholder return ("TSR") benchmarked against the TSR of the S&P SPDR Semiconductor ETF (NYSE:XSD) over a one, two and three year period (one-third of the awards vesting each performance period). Generally, the fiscal year 2021 award recipients must be employed for the entire performance period and be an active employee at the time of vesting of the awards. The grant-date fair value per unit of the awards granted in the first quarter of fiscal year 2021 for each one, two and three year performance periods was $29.04, $32.94 and $35.99, respectively. During the fourth quarter of fiscal year 2020, management identified certain immaterial errors related to share-based compensation expense of market-based awards granted during fiscal years 2018, 2019 and 2020. The impact of the errors was not material and the Company has corrected the consolidated financial statements and all other financial information presented in this Quarterly Report on Form 10-Q. Refer to Note 16 for a discussion of the Company's assessment of the errors and impact on its consolidated financial statements. Restricted Stock Units, Employees The Company grants restricted stock units to certain employees, which are expected to be settled with shares of the Company's common stock. The grant date for these awards is equal to the measurement date. These awards are valued as of the measurement date, based on the fair value of the Company's common stock at the grant date, and recognized as share-based compensation expense over the requisite vesting period (typically 4 years). In the first quarter of fiscal year 2021, the Company granted 180,788 restricted stock units to employees.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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