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Stockholders’ Equity and Stock-Based Compensation | 9 Months Ended
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Sep. 26, 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 | 1,189,018 |  |  | 25.72 |
Awards vested | (1,446,481) |  |  | 13.70 |
Awards forfeited | (42,384) |  |  | 14.64 |
RSUs at September 26, 2020 | 2,769,153 |  |  | 19.52 |
Performance Restricted Stock Units We may grant Performance RSUs ("PRSUs") to certain executives, which vest based upon us achieving certain market performance criteria. On August 27, 2020, we granted 258,600 PRSUs to certain senior executives for a total grant date fair value of $6.9 million, which will be recognized ratably over the requisite service period. The performance criteria are based on a metric called Total Shareholder Returns ("TSR") for the period of July 1, 2020 - June 30, 2023, relative to the TSR of the companies identified as being part of the S&P semiconductor Select Industry Index (FormFactor peer companies) as of August 27, 2020. There were no other market based PRSUs granted during the nine months ended September 26, 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 |  | (205,769) |  |  | 8.32 |  |  |  |  |
Outstanding at September 26, 2020 |  | 156,000 |  |  | $ | 8.38 |  |  | 1.39 |  | $ | 2,427,060 |
Vested and expected to vest at September 26, 2020 |  | 156,000 |  |  | $ | 8.38 |  |  | 1.39 |  | $ | 2,427,060 |
Exercisable at September 26, 2020 |  | 156,000 |  |  | $ | 8.38 |  |  | 1.39 |  | $ | 2,427,060 |
Employee Stock Purchase Plan Information related to activity under our Employee Stock Purchase Plan ("ESPP") was as follows:
|  | Nine Months Ended
|  | September 26, 2020
Shares issued |  | 485,566 |
Weighted average per share purchase price |  | $ | 16.47 |
Weighted average per share discount from the fair value of our common stock on the date of issuance |  | $ | 11.00 |
Stock-Based Compensation Stock-based compensation was included in our Condensed Consolidated Statements of Income as follows (in thousands):
| Three Months Ended |  | Nine Months Ended
| September 26, 2020 |  | September 28, 2019 |  | September 26, 2020 |  | September 28, 2019
Cost of revenues | $ | 962 |  |  | $ | 1,117 |  |  | $ | 2,800 |  |  | $ | 3,031 |
Research and development | 1,326 |  |  | 1,729 |  |  | 4,154 |  |  | 4,830 |
Selling, general and administrative | 3,221 |  |  | 3,658 |  |  | 9,820 |  |  | 9,227 |
Total stock-based compensation | $ | 5,509 |  |  | $ | 6,504 |  |  | $ | 16,774 |  |  | $ | 17,088 |
Unrecognized Compensation Costs At September 26, 2020, the unrecognized stock-based compensation was as follows (dollars in thousands):
| Unrecognized Expense |  | Average Expected Recognition Period in Years
Restricted stock units | $ | 34,513 |  |  | 2.31
Performance restricted stock units | 10,499 |  |  | 2.28
Employee stock purchase plan | 993 |  |  | 0.35
Total unrecognized stock-based compensation expense | $ | 46,005 |  |  | 2.26

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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