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Stock-Based Compensation | 12 Months Ended
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Dec. 30, 2023
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 30, 2023 |  | December 31, 2022 |  | December 25, 2021
Weighted average grant date per share fair value of RSUs granted | $ | 33.85 |  |  | $ | 34.83 |  |  | $ | 36.12 |
Total intrinsic value of stock options exercised | — |  |  | — |  |  | 3,179 |
Fair value of RSUs vested | 32,820 |  |  | 42,324 |  |  | 54,948 |
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 30, 2023 |  | December 31, 2022 |  | December 25, 2021
Stock-based compensation expense included in: |  |  |  |  |
Cost of revenues | $ | 6,854 |  |  | $ | 3,807 |  |  | $ | 5,200 |
Research and development | 10,652 |  |  | 8,217 |  |  | 7,583 |
Selling, general and administrative | 21,110 |  |  | 19,313 |  |  | 16,601 |
Total stock-based compensation | $ | 38,616 |  |  | $ | 31,337 |  |  | $ | 29,384 |
Stock-based compensation tax benefit (expense) | $ | (1,424) |  |  | $ | 2,772 |  |  | $ | 6,118 |
Unrecognized Stock-Based Compensation Expense Unrecognized stock-based compensation expense at December 30, 2023 consisted of the following (in thousands):
|  | Unrecognized Expense |  | Weighted Average Recognition Period (Years)
Restricted stock units |  | $ | 48,040 |  |  | 2.0
Performance restricted stock units |  | 10,902 |  |  | 2.0
Employee stock purchase plan |  | 375 |  |  | 0.1
Total unrecognized stock-based compensation expense |  | $ | 59,317 |  |  | 2.0
Valuation Assumptions The following assumptions were used in estimating the fair value of PRSUs:
| Fiscal Year Ended
| December 30, 2023 |  | December 31, 2022 |  | December 25, 2021
PRSUs: |  |  |  |  |
Dividend yield | — | % |  | — | % |  | — | %
Expected volatility | 50.7 | % |  | 53.0 | % |  | 52.5 | %
Risk-free interest rate | 4.4 | % |  | 2.8 | % |  | 0.3 | %
Expected life (in years) | 2.9 |  | 2.9 |  | 2.9
The following assumptions were used in estimating the fair value of shares under the Employee Stock Purchase Plan:
| Fiscal Year Ended
| December 30, 2023 |  | December 31, 2022 |  | December 25, 2021
Employee Stock Purchase Plan: |  |  |  |  |
Dividend yield | — | % |  | — | % |  | — | %
Expected volatility | 40.6% - 60.2% |  | 42.6% - 60.8% |  | 33.6% - 74.4%
Risk-free interest rate | 0.8% - 5.5% |  | 0.1% - 3.0% |  | 0.1% - 1.5%
Expected life (in years) | 0.5 - 1.0 |  | 0.5 - 1.0 |  | 0.5 - 1.0

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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 -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//505/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent + Details
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