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Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 28, 2025
Stock-Based Compensation [Abstract] |
Summary of Recognized Stock-based Compensation Expense | The following table summarizes stock-based compensation expense recognized:
| Fiscal quarters ended |  | Six fiscal months ended |
| June 28, 2025 |  | June 29, 2024 |  | June 28, 2025 |  | June 29, 2024 |
Restricted stock units ("RSUs") |  | $ | 5,685 |  |  | $ | 3,949 |  |  | $ | 11,653 |  |  |  | 9,175 |
Phantom stock units |  |  | - |  |  |  | - |  |  |  | 83 |  |  |  | 118 |
Total |  | $ | 5,685 |  |  | $ | 3,949 |  |  | $ | 11,736 |  |  |  | 9,293 |
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 June 28, 2025 (amortization periods in years):
| Unrecognized Compensation Cost |  | Weighted Average Remaining Amortization Periods |
Restricted stock units |  | $ | 38,506 |  |  |  | 2.1 |
Phantom stock units |  |  | - |  |  |  | n/a |
Total |  | $ | 38,506 |  |  |  |  |
RSU Activity | RSU activity under the Company's stock incentive programs as of June 28, 2025 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, 2025 |  |  | 2,628 |  |  | $ | 21.37 |
Granted* |  |  | 1,844 |  |  |  | 15.19 |
Vested** |  |  | (764 | ) |  |  | 21.75 |
Cancelled or forfeited |  |  | (168 | ) |  |  | 20.59 |
Outstanding at June 28, 2025 |  |  | 3,540 |  |  | $ | 18.11 |
Expected to vest at June 28, 2025 |  |  | 2,839 |  |  |  |  |
* 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.
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, 2026 |  |  | - |  |  |  | 137 |  |  |  | 137 |
January 1, 2027 |  |  | - |  |  |  | 540 |  |  |  | 540 |
January 1, 2028 |  |  | 836 |  |  |  | 24 |  |  |  | 860 |
March 1, 2029 |  |  | 175 |  |  |  | - |  |  |  | 175 |
Phantom Stock Unit Activity Under the Phantom Stock Plan | Phantom stock unit activity as of June 28, 2025 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, 2025 |  |  | 128 |  |  |
Granted |  |  | 5 |  |  | $ | 16.69 |
Dividend equivalents issued |  |  | 2 |  |  |  |  |
Outstanding at June 28, 2025 |  |  | 135 |  |  |  |  |

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