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Stockholders’ Equity and Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 25, 2021
Equity [Abstract] |
Schedule of Restricted Stock Unit Activity | Restricted stock unit (“RSU”) activity under our equity incentive plan was as follows:
| Units |  | Weighted Average Grant Date Fair Value
RSUs at December 26, 2020 | 2,840,922 |  |  | $ | 19.80 |
Awards granted | 1,030,085 |  |  | 36.09 |
Awards vested | (1,457,554) |  |  | 16.95 |
Awards forfeited | (38,128) |  |  | 23.82 |
RSUs at September 25, 2021 | 2,375,325 |  |  | 28.55 |
Schedule of Stock Option Activity | 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 (in thousands)
Outstanding at December 26, 2020 |  | 106,000 |  |  | $ | 8.35 |  |  |  |  |
Options exercised |  | (100,000) |  |  | 8.44 |  |  |  |  |
Outstanding at September 25, 2021 |  | 6,000 |  |  | $ | 6.93 |  |  | 0.86 |  | $ | 201 |
Vested and expected to vest at September 25, 2021 |  | 6,000 |  |  | $ | 6.93 |  |  | 0.86 |  | $ | 201 |
Exercisable at September 25, 2021 |  | 6,000 |  |  | $ | 6.93 |  |  | 0.86 |  | $ | 201 |
Schedule of ESPP Activity | Information related to activity under our Employee Stock Purchase Plan (“ESPP”) was as follows:
|  | Nine Months Ended
|  | September 25, 2021
Shares issued |  | 378,584 |
Weighted average per share purchase price |  | $ | 25.91 |
Weighted average per share discount from the fair value of our common stock on the date of issuance |  | $ | (13.53) |
Schedule of 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 25, 2021 |  | September 26, 2020 |  | September 25, 2021 |  | September 26, 2020
Cost of revenues | $ | 1,392 |  |  | $ | 962 |  |  | $ | 3,806 |  |  | $ | 2,800 |
Research and development | 2,010 |  |  | 1,326 |  |  | 5,362 |  |  | 4,154 |
Selling, general and administrative | 4,518 |  |  | 3,221 |  |  | 12,417 |  |  | 9,820 |
Total stock-based compensation | $ | 7,920 |  |  | $ | 5,509 |  |  | $ | 21,585 |  |  | $ | 16,774 |
Schedule of Unrecognized Stock-based Compensation | At September 25, 2021, the unrecognized stock-based compensation was as follows (dollars in thousands):
| Unrecognized Expense |  | Average Expected Recognition Period in Years
Restricted stock units | $ | 43,364 |  |  | 2.33
Performance restricted stock units | 13,523 |  |  | 2.28
Employee stock purchase plan | 1,806 |  |  | 0.36
Total unrecognized stock-based compensation expense | $ | 58,693 |  |  | 2.26

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