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Stockholders’ Equity and Stock-Based Compensation
 3 Months Ended
Jun. 25, 2022
Equity [Abstract]  
Stockholders’ Equity and Stock-Based Compensation Stockholders’ Equity and Stock-Based Compensation
Common Stock Repurchase Programs
On October 26, 2020, our Board of Directors authorized a two-year program to repurchase up to $50 million of outstanding common stock to offset potential dilution from issuances of common stock under our stock-based compensation programs. During fiscal 2021 we repurchased and retired 622,400 shares of common stock for $24.0 million. During the six months ended June 25, 2022, we repurchased and retired 676,408 shares of common stock for $26.0 million, utilizing the remaining funds available for repurchase.

On May 20, 2022, our Board of Directors authorized an additional program to repurchase up to $75 million of outstanding common stock, also with the primary purpose to offset potential dilution from issuances of common stock under our stock-based compensation programs. The share repurchase program will expire on May 20, 2024. During the three months ended June 25, 2022, we repurchased and retired 767,083 shares of common stock for $28.4 million under the program. As of June 25, 2022, $46.6 million remained available for future repurchases.
Our policy related to repurchases of our common stock is to charge the excess of cost over par value to additional paid-in capital once the shares are retired. All repurchases were made in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended.

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 25, 20212,166,934 $28.63 
Awards granted63,697 41.25 
Awards vested(338,825)16.73 
Awards forfeited(51,941)30.23 
RSUs at June 25, 20221,839,865 31.22 

Performance Restricted Stock Units
We may grant Performance RSUs (“PRSUs”) to certain executives, which vest based upon us achieving certain market performance criteria. There were no PRSUs granted during the six months ended June 25, 2022. PRSUs are included as part of the RSU activity above.

Employee Stock Purchase Plan
Information related to activity under our Employee Stock Purchase Plan (“ESPP”) was as follows:
 Six Months Ended
 June 25, 2022
Shares issued157,642 
Weighted average per share purchase price$35.81 
Weighted average per share discount from the fair value of our common stock on the date of issuance$(6.93)

Stock-Based Compensation
Stock-based compensation was included in our Condensed Consolidated Statements of Income as follows (in thousands):
Three Months EndedSix Months Ended
June 25,
2022		June 26,
2021		June 25,
2022		June 26,
2021
Cost of revenues$734 $1,079 $1,812 $2,414 
Research and development1,695 1,663 3,681 3,352 
Selling, general and administrative3,929 3,846 8,385 7,899 
Total stock-based compensation$6,358 $6,588 $13,878 $13,665 
 
Unrecognized Compensation Costs
At June 25, 2022, the unrecognized stock-based compensation was as follows (dollars in thousands): 
Unrecognized ExpenseAverage Expected Recognition Period in Years
Restricted stock units$27,430 1.80
Performance restricted stock units7,202 1.74
Employee stock purchase plan285 0.61
Total unrecognized stock-based compensation expense$34,917 1.77