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Stock-Based Compensation | 9 Months Ended
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Jan. 02, 2022
Share-based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation As of January 2, 2022, the Company maintains the 2017 Equity Incentive Plan as amended from time to time (“2017 EIP”). The 2017 EIP reserved 4,173,554 shares of common stock for the grant of various classes of nonqualified stock options, restricted stock units, market condition-based on total shareholder return (“TSR”) and performance condition-based share units (“PSU”) and other forms of equity-based compensation. The Company recognized stock-based compensation expense associated with its equity incentive plans of $6,393 for the third quarter of fiscal 2022 and $6,396 for the third quarter of fiscal 2021. Stock-based compensation was $15,817 and $16,982 for the nine months of fiscal 2022 and fiscal 2021, respectively. The Company recognizes compensation expense using the straight-line method over the vesting period of the awards. During the nine months of fiscal 2022, the Company granted to non-employee directors 23,548 restricted stock units, under the deferred compensation plan for non-employee directors. The awards vest immediately upon the date of grant and are settled in shares of common stock. During the nine months of fiscal 2022, the Company granted to management and other key employees 246,222 non-qualified stock options that vest ratably over three years from the date of grant and 229,600 restricted stock units that vest ratably over four years from the date of grant. Common stock activity during the nine months of fiscal 2022 included the exercise of 41,552 stock options and the vesting of 209,910 restricted stock units, 46,295 TSRs and 670 PSUs. As of January 2, 2022, there were 981,356 non-qualified stock options, 891,281 restricted stock units including non-employee director restricted stock units, 75,218 TSRs and 77,195 PSUs outstanding.

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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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