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Share-Based Compensation (Tables)

12 Months Ended

Jan. 26, 2025

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Summary of allocation of stock-based compensation

Pre-tax share-based compensation, excluding the acceleration of Sierra Wireless equity awards in fiscal year 2023, was included in the Statements of Operations for fiscal years 2025, 2024 and 2023 as follows: 

			Fiscal Year Ended
(in thousands)			January 26, 2025						January 28, 2024						January 29, 2023
Cost of sales			$	2,933					$	1,995					$	2,645
Product development and engineering			13,965						12,844						15,110
Selling, general and administrative			51,138						25,331						21,493
Share-based compensation			$	68,036					$	40,170					$	39,248

Summary of the activity for stock option awards

The following table summarizes the activity for stock options for fiscal year 2025:

(in thousands, except per share data)			Number of Shares						Weighted- Average Exercise Price (per share)						Aggregate Intrinsic Value (1)												Number of Shares Exercisable						Weighted-Average Contractual Term (years)
Vested and expected to vest at January 28, 2024			501						$	30.92					$	8											201						4.5
Exercised			(148)						29.37						4,026
Forfeited			(67)						40.08
Vested and expected to vest at January 26, 2025			286						29.59						12,434												150						3.8
Vested and exercisable at January 26, 2025			150						29.85						6,492																		3.8

(1) The aggregate intrinsic value of stock options vested and exercisable and vested and expected to vest as of January 26, 2025 is calculated based on the difference between the exercise price and the $73.02 closing price of the Company's common stock as of January 26, 2025.

Summary of unvested stock option awards

The following table summarizes information regarding nonvested stock option awards at January 26, 2025:

(in thousands, except per share data)			Number of Shares						Weighted-Average Exercise Price (per share)						Weighted-Average Grant Date Fair Value (per share)
Nonvested at January 28, 2024			300						$	29.30					$	12.77
Vested			(138)						29.30						12.77
Forfeited			(26)						29.30						12.77
Nonvested at January 26, 2025			136						29.30						12.77

Summary of activity for market performance units

The following table summarizes the activity for restricted stock units awarded to employees for fiscal year 2025:

(in thousands, except per share data)			Total Units						Units Subject to Share Settlement						Units Subject to Cash Settlement						Weighted-Average Grant Date Fair Value (per share)
Nonvested at January 28, 2024			2,599						2,591						8						$	29.64
Granted			1,606						1,606						—						31.98
Vested			(1,123)						(1,120)						(3)						36.78
Forfeited			(362)						(361)						(1)						32.30
Nonvested at January 26, 2025			2,720						2,716						4						28.94

The following table summarizes the activity for restricted stock units awarded to non-employee directors for fiscal year 2025:

(in thousands, except per share data)			Total Units						Units Subject to Share Settlement						Units Subject to Cash Settlement						Weighted-Average Grant Date Fair Value (per share)
Nonvested at January 28, 2024			76						38						38						$	24.76
Granted			52						26						26						31.50
Vested			(78)						(39)						(39)						24.96
Forfeited			(4)						(2)						(2)						31.50
Nonvested at January 26, 2025			46						23						23						31.50

The following table summarizes the activity for the Metric-based Awards for fiscal year 2025:

(in thousands, except per share data)			Total Units						Weighted-Average Grant Date Fair Value (per share)
Nonvested at January 28, 2024			116						$	23.53
Granted			—						—
Vested			(27)						33.89
Cancelled/Forfeited (1)			(30)						23.72
Nonvested at January 26, 2025			59						30.86

(1) Primarily represents forfeitures due to the terminations of certain recipients, as well as cancellations due to awards not meeting the performance targets.

Share-Based Payment Arrangement, Outstanding Award, Activity, Excluding Option

The following table summarizes the activity for the Performance Awards for fiscal year 2025:

(in thousands, except per share data)			Total Units						Weighted-Average Grant Date Fair Value (per share)
Nonvested at January 28, 2024			—						$	—
Granted			444						43.24
Vested			—						—
Cancelled/Forfeited (1)			(75)						48.23
Nonvested at January 26, 2025			369						42.23

(1) Primarily represents forfeitures due to the terminations of certain recipients.

The following table summarizes the activity for the TSR Awards for fiscal year 2025:

(in thousands, except per share data)			Total Units						Weighted-Average Grant Date Fair Value (per share)
Nonvested at January 28, 2024			105						$	45.66
Granted			—						—
Vested			—						—
Cancelled/Forfeited (1)			(34)						45.50
Nonvested at January 26, 2025			71						47.26

(1) Primarily represents forfeitures due to the terminations of certain recipients.

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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-SubTopic 10
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-Publisher FASB
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- Definition

Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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Tabular disclosure of activity for outstanding award under share-based payment arrangement excluding share and unit options and nonvested award.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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