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Stockholders’ Equity and Stock-Based Compensation

3 Months Ended

Mar. 28, 2020

Equity [Abstract]

Stockholders’ Equity and Stock-Based Compensation

Stockholders’ Equity and Stock-Based Compensation

Restricted Stock Units

Restricted stock unit ("RSU") activity under our equity incentive plan was as follows:

			Units						Weighted Average Grant Date Fair Value
RSUs at December 28, 2019			3,069,000						$	14.30
Awards granted			16,000						26.05
Awards vested			(43,604)						12.70
Awards forfeited			(20,291)						14.25
RSUs at March 28, 2020			3,021,105						$	14.39

The total fair value of RSUs vested during the three months ended March 28, 2020 was $1.0 million.

Performance Restricted Stock Units

We may grant Performance RSUs ("PRSUs") to certain executives, which vest based upon us achieving certain market performance criteria. There were no PRSUs granted during the three months ended March 28, 2020. PRSUs are included as part of the RSU activity above.

Stock Options

Stock option activity under our equity incentive plan was as follows:

						Options Outstanding						Weighted Average Exercise Price						Weighted Average Remaining Contractual Life in Years						Aggregate Intrinsic Value
Outstanding at December 28, 2019						361,769						$	8.35
Options exercised						(55,769)						8.01
Outstanding at March 28, 2020						306,000						$	8.41					1.88						$	3,607,620
Vested and expected to vest at March 28, 2020						306,000						$	8.41					1.88						$	3,607,620
Exercisable at March 28, 2020						306,000						$	8.41					1.88						$	3,607,620

Employee Stock Purchase Plan

Information related to activity under our Employee Stock Purchase Plan ("ESPP") was as follows:

						Three Months Ended
						March 28, 2020
Shares issued						311,591
Weighted average per share purchase price						$	13.05
Weighted average per share discount from the fair value of our common stock on the date of issuance						$	12.26

Stock-Based Compensation

Stock-based compensation was included in our Condensed Consolidated Statements of Income as follows (in thousands):

			Three Months Ended
			March 28, 2020						March 30, 2019
Cost of revenues			$	937					$	950
Research and development			1,439						1,519
Selling, general and administrative			3,247						2,826
Total stock-based compensation			$	5,623					$	5,295

Unrecognized Compensation Costs

At March 28, 2020, the unrecognized stock-based compensation was as follows (dollars in thousands): 

			Unrecognized Expense						Average Expected Recognition Period in Years
Restricted stock units			$	20,158					1.79
Performance restricted stock units			5,544						1.79
Employee stock purchase plan			662						0.85
Total unrecognized stock-based compensation expense			$	26,364					1.77

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- References

No definition available.

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- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

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