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Stock-Based Compensation

12 Months Ended

Dec. 25, 2021

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 25, 2021						December 26, 2020						December 28, 2019
Weighted average grant date per share fair value of RSUs granted			$	36.12					$	25.96					$	15.12
Total intrinsic value of stock options exercised			3,179						4,688						1,814
Fair value of RSUs vested			54,948						42,597						23,450

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 25, 2021						December 26, 2020						December 28, 2019
Stock-based compensation expense included in:
Cost of revenues			$	5,200					$	3,951					$	4,055
Research and development			7,583						5,824						6,367
Selling, general and administrative			16,601						14,055						12,754
Total stock-based compensation			$	29,384					$	23,830					$	23,176
Stock-based compensation tax benefit			$	6,118					$	4,962					$	911

Unrecognized Stock-Based Compensation Expense

Unrecognized stock-based compensation expense at December 25, 2021 consisted of the following (in thousands):

						Unrecognized Expense						Weighted Average Recognition Period (Years)
Restricted stock units						$	36,055					2.2
Performance restricted stock units						10,126						2.1
Employee stock purchase plan						452						0.1
Total unrecognized stock-based compensation expense						$	46,633					2.1

Valuation Assumptions

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

			Fiscal Year Ended
			December 25, 2021						December 26, 2020						December 28, 2019
PRSUs:
Dividend yield			—		%				—		%				—		%
Expected volatility			52.5		%				52.0		%				47.3		%
Risk-free interest rate			0.3		%				0.2		%				1.8		%
Expected life (in years)			2.9						2.8						3.1

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

			Fiscal Year Ended
			December 25, 2021						December 26, 2020						December 28, 2019
Employee Stock Purchase Plan:
Dividend yield			—		%				—		%				—		%
Expected volatility			33.6% - 74.4%						30.4% - 74.4%						36.6% - 59.5%
Risk-free interest rate			0.1% - 1.5%						0.1% - 1.5%						2.0% - 2.5%
Expected life (in years)			0.5 - 1.0						0.5 - 1.0						0.5 - 1.0

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- References

No definition available.

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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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