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Stock-Based Compensation | 6 Months Ended
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Jun. 29, 2024
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 |
| June 29, 2024 |  | July 1, 2023 |  | June 29, 2024 |  | July 1, 2023 |
Restricted stock units ("RSUs") |  | $ | 3,949 |  |  | $ | 3,117 |  |  | $ | 9,175 |  |  |  | 5,975 |
Phantom stock units |  |  | - |  |  |  | - |  |  |  | 118 |  |  |  | 107 |
Total |  | $ | 3,949 |  |  | $ | 3,117 |  |  | $ | 9,293 |  |  |  | 6,082 |
The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at June 29, 2024 (amortization periods in years):
| Unrecognized Compensation Cost |  | Weighted Average Remaining Amortization Periods |
Restricted stock units |  | $ | 38,497 |  |  |  | 2.3 |
Phantom stock units |  |  | - |  |  |  | n/a |
Total |  | $ | 38,497 |  |  |  |  |
Restricted Stock Units RSU activity under the Company's stock incentive programs as of June 29, 2024 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, 2024 |  |  | 1,717 |  |  | $ | 23.03 |
Granted* |  |  | 1,638 |  |  |  | 20.47 |
Vested** |  |  | (571 | ) |  |  | 23.02 |
Cancelled or forfeited |  |  | (44 | ) |  |  | 23.88 |
Outstanding at June 29, 2024 |  |  | 2,740 |  |  | $ | 21.49 |
Expected to vest at June 29, 2024 |  |  | 2,467 |  |  |  |  |
* Employees in certain countries are granted equity-linked awards that will be settled in cash and are accounted for as liability awards. The liability awards are not material. The number of RSUs granted excludes these awards. ** 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 and market criteria between the established target and maximum levels. 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, 2025 |  |  | 168 |  |  |  | - |  |  |  | 168 |
January 1, 2026 |  |  | 95 |  |  |  | 72 |  |  |  | 167 |
January 1, 2027 |  |  | 400 |  |  |  | 201 |  |  |  | 601 |
March 1, 2029 |  |  | 175 |  |  |  | - |  |  |  | 175 |
Phantom Stock Units Phantom stock unit activity as of June 29, 2024 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, 2024 |  |  | 120 |  |  |
Granted |  |  | 5 |  |  | $ | 23.51 |
Dividend equivalents issued |  |  | 1 |  |  |  |  |
Outstanding at June 29, 2024 |  |  | 126 |  |  |  |  |

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