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Stockholders’ Equity and Stock-Based Compensation (Tables)

9 Months Ended

Sep. 24, 2022

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 25, 2021			2,166,934						$	28.63
Awards granted			1,338,278						34.95
Awards vested			(1,133,782)						22.45
Awards forfeited			(66,279)						31.07
RSUs at September 24, 2022			2,305,151						35.27

Schedule of ESPP Activity

Information related to activity under our Employee Stock Purchase Plan (“ESPP”) was as follows:

						Nine Months Ended
						September 24, 2022
Shares issued						316,861
Weighted average per share purchase price						$	33.00
Weighted average per share discount from the fair value of our common stock on the date of issuance						$	(6.13)

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 24, 2022						September 25, 2021						September 24, 2022						September 25, 2021
Cost of revenues			$	1,022					$	1,392					$	2,834					$	3,806
Research and development			2,027						2,010						5,708						5,362
Selling, general and administrative			4,946						4,518						13,331						12,417
Total stock-based compensation			$	7,995					$	7,920					$	21,873					$	21,585

Schedule of Unrecognized Stock-based Compensation

At September 24, 2022, the unrecognized stock-based compensation was as follows (dollars in thousands): 

			Unrecognized Expense						Average Expected Recognition Period in Years
Restricted stock units			$	54,872					2.31
Performance restricted stock units			14,239						2.25
Employee stock purchase plan			1,694						0.36
Total unrecognized stock-based compensation expense			$	70,805					2.25

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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