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Stock-Based Compensation | 6 Months Ended
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Jul. 02, 2022
Stock-Based Compensation [Abstract] |
Stock-Based Compensation | Note 10 – Stock-Based Compensation The following table summarizes stock-based compensation expense recognized:
|  | Fiscal quarters ended |  |  | Six fiscal months ended |
|  | July 2, 2022 |  |  | July 3, 2021 |  |  | July 2, 2022 |  |  | July 3, 2021 |
Restricted stock units |  | $ | 1,047 |  |  | $ | 828 |  |  | $ | 4,667 |  |  |  | 4,739 |
Phantom stock units |  |  | - |  |  |  | - |  |  |  | 222 |  |  |  | 209 |
Total |  | $ | 1,047 |  |  | $ | 828 |  |  | $ | 4,889 |  |  |  | 4,948 |
The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at July 2, 2022 (amortization periods in years):
|  | Unrecognized Compensation Cost |  |  | Weighted Average Remaining Amortization Periods |
Restricted stock units |  | $ | 4,896 |  |  |  | 0.9 |
Phantom stock units |  |  | - |  |  |  | n/a |
Total |  | $ | 4,896 |  |  |  |  |
The Company currently expects all performance-based RSUs to vest and all of the associated unrecognized compensation cost for performance-based RSUs presented in the table above to be recognized. Restricted Stock Units RSU activity under the Company's 2007 Stock Incentive Program (the "2007 Program") as of July 2, 2022 and changes during the six fiscal months then ended are presented below (number of RSUs in thousands):
|  | Number of RSUs |  |  | Weighted Average Grant-date Fair Value per Unit |
Outstanding: |  |  |  |  |  |
January 1, 2022 |  |  | 877 |  |  | $ | 20.08 |
Granted |  |  | 336 |  |  |  | 19.13 |
Vested* |  |  | (306 | ) |  |  | 20.04 |
Cancelled or forfeited |  |  | (13 | ) |  |  | 20.50 |
Outstanding at July 2, 2022 |  |  | 894 |  |  | $ | 19.73 |
Expected to vest at July 2, 2022 |  |  | 894 |  |  |  |  |
* The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements. The number of performance-based RSUs that are scheduled to vest increases ratably based on the achievement of defined performance criteria between the established target and maximum levels. RSUs with performance-based vesting criteria are expected to vest as follows (number of RSUs in thousands):
Vesting Date |  | Expected to Vest |  |  | Not Expected to Vest |  |  | Total |
January 1, 2023 |  |  | 152 |  |  |  | - |  |  |  | 152 |
January 1, 2024 |  |  | 165 |  |  |  | - |  |  |  | 165 |
January 1, 2025 |  |  | 168 |  |  |  | - |  |  |  | 168 |
Phantom Stock Units Phantom stock unit activity under the 2007 Program as of July 2, 2022 and changes during the six fiscal months then ended are presented below (number of phantom stock units in thousands):
|  | Number of units |  |  | Grant-date Fair Value per Unit |
Outstanding: |  |  |  |  |  |
January 1, 2022 |  |  | 212 |  |  |  |
Granted |  |  | 10 |  |  | $ | 22.20 |
Dividend equivalents issued |  |  | 2 |  |  |  |  |
Outstanding at July 2, 2022 |  |  | 224 |  |  |  |  |

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