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Stock-Based Compensation (Tables) | 3 Months Ended
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Apr. 01, 2023
Stock-Based Compensation [Abstract] |
Summary of Recognized Stock-based Compensation Expense | The following table summarizes stock-based compensation expense recognized:
|  | Fiscal quarters ended |
|  | April 1, 2023 |  |  | April 2, 2022 |
Restricted stock units ("RSUs") |  | $ | 2,858 |  |  | $ | 3,620 |
Phantom stock units |  |  | 107 |  |  |  | 222 |
Total |  | $ | 2,965 |  |  | $ | 3,842 |
Summary of Unrecognized Compensation Cost and Weighted Average Remaining Amortization Periods | The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at April 1, 2023 (amortization periods in years):
|  | Unrecognized Compensation Cost |  |  | Weighted Average Remaining Amortization Periods |
Restricted stock units |  | $ | 10,041 |  |  |  | 0.9 |
Phantom stock units |  |  | - |  |  |  | n/a |
Total |  | $ | 10,041 |  |  |  |  |
RSU Activity | RSU activity under the Company's 2007 Stock Incentive Program (the "2007 Program") as of April 1, 2023 and changes during the three 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, 2023 |  |  | 894 |  |  | $ | 19.73 |
Granted |  |  | 419 |  |  |  | 23.05 |
Vested* |  |  | (328 | ) |  |  | 18.76 |
Cancelled or forfeited |  |  | - |  |  |  | - |
Outstanding at April 1, 2023 |  |  | 985 |  |  | $ | 21.47 |
Expected to vest at April 1, 2023 |  |  | 991 |  |  |  |  |
* The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements.
RSUs with Performance-Based Vesting Criteria | RSUs with performance-based and market-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, 2024 |  |  | 165 |  |  |  | - |  |  |  | 165 |
January 1, 2025 |  |  | 168 |  |  |  | - |  |  |  | 168 |
January 1, 2026 |  |  | 178 |  |  |  | - |  |  |  | 178 |
Phantom Stock Unit Activity Under the Phantom Stock Plan | Phantom Stock Units Phantom stock unit activity under the 2007 Program as of April 1, 2023 and changes during the three 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, 2023 |  |  | 226 |  |  |
Granted |  |  | 5 |  |  | $ | 21.48 |
Dividend equivalents issued |  |  | 1 |  |  |  |  |
Redeemed for common stock* |  |  | (94 | ) |  |  |  |
Outstanding at April 1, 2023 |  |  | 138 |  |  |  |  |
* The number of phantom stock units redeemed for common stock includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements.

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