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Stockholders’ Equity and Stock-Based Compensation
 9 Months Ended
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:
 
UnitsWeighted Average Grant Date Fair Value
RSUs at December 28, 20193,069,000 $14.30 
Awards granted1,189,018 25.72 
Awards vested(1,446,481)13.70 
Awards forfeited(42,384)14.64 
RSUs at September 26, 20202,769,153 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 OutstandingWeighted Average Exercise PriceWeighted Average Remaining Contractual Life in YearsAggregate Intrinsic Value
Outstanding at December 28, 2019361,769 $8.35 
Options exercised(205,769)8.32 
Outstanding at September 26, 2020156,000 $8.38 1.39$2,427,060 
Vested and expected to vest at September 26, 2020156,000 $8.38 1.39$2,427,060 
Exercisable at September 26, 2020156,000 $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 issued485,566 
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 EndedNine 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 development1,326 1,729 4,154 4,830 
Selling, general and administrative3,221 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 ExpenseAverage Expected Recognition Period in Years
Restricted stock units$34,513 2.31
Performance restricted stock units10,499 2.28
Employee stock purchase plan993 0.35
Total unrecognized stock-based compensation expense$46,005 2.26