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Stockholders’ Equity and Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 30, 2024
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 30, 2023 | 2,165,729 |  |  | $ | 35.85 |
Awards granted | 16,253 |  |  | 42.26 |
Awards vested | (122,498) |  |  | 30.65 |
Awards forfeited | (5,431) |  |  | 33.90 |
RSUs at March 30, 2024 | 2,054,053 |  |  | 36.16 |
Schedule of ESPP Activity | Information related to activity under our Employee Stock Purchase Plan (“ESPP”) was as follows:
|  | Three Months Ended
|  | March 30, 2024
Shares issued |  | 197,014 |
Weighted average per share purchase price |  | $ | 25.11 |
Weighted average per share discount from the fair value of our common stock on the date of issuance |  | $ | (13.66) |
Schedule of Stock-based Compensation | Stock-based compensation was included in our Condensed Consolidated Statements of Income as follows (in thousands):
| Three Months Ended |  |
| March 30, 2024 |  | April 1, 2023 |  |  |  |
Cost of revenues | $ | 1,928 |  |  | $ | 1,910 |  |  |  |  |
Research and development | 2,613 |  |  | 2,372 |  |  |  |  |
Selling, general and administrative | 5,864 |  |  | 5,008 |  |  |  |  |
Total stock-based compensation | $ | 10,405 |  |  | $ | 9,290 |  |  |  |  |
Schedule of Unrecognized Stock-based Compensation | At March 30, 2024, the unrecognized stock-based compensation was as follows (dollars in thousands):
| Unrecognized Expense |  | Average Expected Recognition Period in Years
Restricted stock units | $ | 40,890 |  |  | 1.84
Performance restricted stock units | 9,170 |  |  | 1.83
Employee stock purchase plan | 1,055 |  |  | 0.34
Total unrecognized stock-based compensation expense | $ | 51,115 |  |  | 1.80

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