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Stockholders’ Equity and Stock-Based Compensation (Tables)

3 Months Ended

Apr. 01, 2023

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 31, 2022			2,227,081						$	35.28
Awards granted			79,020						25.51
Awards vested			(30,751)						34.87
Awards forfeited			(82,523)						35.16
RSUs at April 1, 2023			2,192,827						34.94

Schedule of ESPP Activity

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

						Three Months Ended
						April 1, 2023
Shares issued						210,055
Weighted average per share purchase price						$	23.92
Weighted average per share discount from the fair value of our common stock on the date of issuance						$	(4.22)

Schedule of Stock-based Compensation

Stock-based compensation was included in our Condensed Consolidated Statements of Income as follows (in thousands):

			Three Months Ended
			April 1, 2023						March 26, 2022
Cost of revenues			$	1,910					$	1,078
Research and development			2,372						1,986
Selling, general and administrative			5,008						4,456
Total stock-based compensation			$	9,290					$	7,520

Schedule of Unrecognized Stock-based Compensation

At April 1, 2023, the unrecognized stock-based compensation was as follows (dollars in thousands): 

			Unrecognized Expense						Average Expected Recognition Period in Years
Restricted stock units			$	39,761					1.98
Performance restricted stock units			9,486						1.86
Employee stock purchase plan			985						0.33
Total unrecognized stock-based compensation expense			$	50,232					1.93

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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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