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Stock-Based Compensation

12 Months Ended

Dec. 26, 2020

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

Stock-Based Compensation

Stock-Based Compensation Expense

Certain information regarding our stock-based compensation was as follows (in thousands, except per share amounts):

			Fiscal Year Ended
			December 26, 2020						December 28, 2019						December 29, 2018
Weighted average grant date per share fair value of RSUs granted			$	25.96					$	15.12					$	13.79
Total intrinsic value of stock options exercised			4,688						1,814						631
Fair value of RSUs vested			$	42,597					$	23,450					$	17,541

Pre-tax stock-based compensation expense by financial statement line and related tax benefit in the Consolidated Statements of Income are as follows (in thousands):

			Fiscal Year Ended
			December 26, 2020						December 28, 2019						December 29, 2018
Stock-based compensation expense included in:
Cost of revenues			$	3,951					$	4,055					$	3,525
Research and development			5,824						6,367						5,398
Selling, general and administrative			14,055						12,754						8,904
Total stock-based compensation			$	23,830					$	23,176					$	17,827
Stock-based compensation tax benefit			$	4,962					$	911					$	453

Unrecognized Stock-Based Compensation Expense

Unrecognized stock-based compensation expense at December 26, 2020 consisted of the following (in thousands):

						Unrecognized Expense						Weighted Average Recognition Period (Years)
Restricted stock units						$	32,122					2.2
Performance restricted stock units						9,075						2.1
Employee stock purchase plan						248						0.1
Total unrecognized stock-based compensation expense						$	41,445					2.2

Valuation Assumptions

The following assumptions were used in estimating the fair value of PRSUs:

			Fiscal Year Ended
			December 26, 2020						December 28, 2019						December 29, 2018
PRSUs:
Dividend yield			—		%				—		%				—		%
Expected volatility			52.01		%				47.34		%				45.61		%
Risk-free interest rate			0.18		%				1.83		%				2.67		%
Expected life (in years)			2.8						3.1						2.9

The following assumptions were used in estimating the fair value of shares under the Employee Stock Purchase Plan:

			Fiscal Year Ended
			December 26, 2020						December 28, 2019						December 29, 2018
Employee Stock Purchase Plan:
Dividend yield			—		%				—		%				—		%
Expected volatility			30.4% - 74.4%						36.6% - 59.5%						44.9% - 48.9%
Risk-free interest rate			0.10% - 1.54%						2.04% - 2.46%						0.83% - 2.22%
Expected life (in years)			0.5 - 1.0						0.5 - 1.0						0.5 - 1.0

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- References

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- Definition

The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP).

+ 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

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-URI http://asc.fasb.org/topic&trid=2228938

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