XML 27 R20.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Stock-Based Compensation | 3 Months Ended
--- | ---
Mar. 30, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
STOCK-BASED COMPENSATION | 11. STOCK-BASED COMPENSATION Equity Incentive Plan The Company’s 2023 Equity Incentive Plan (“2023 Plan”) provides for the grant of up to an aggregate of 1,000,000 shares of restricted stock, restricted share units, stock options, stock appreciation rights, dividend or dividend equivalent rights, stock awards and other awards valued in whole or in part by reference to or otherwise based on the Company’s common stock, to officers, employees and directors of the Company. The 2023 Plan replaced the prior 2019 Equity Incentive Plan and was approved by the Company’s shareholders at the 2023 Annual Meeting. Restricted Stock Units The Company grants restricted stock units (“RSUs”) to employees in connection with a long-term incentive plan and from time to time for special recognition. A wards with time-based vesting requirements primarily vest ratably over a three-year period. Awards with performance-based vesting requirements cliff vest after a three-year performance cycle and only after the achievement of certain performance criteria over that cycle. The number of shares ultimately issued for the performance-based units may vary from 0% to 200% of their target amount based on the achievement of defined performance targets. Compensation expense recognized for RSUs granted to employees totaled $3.9 and $2.3, respec tively, for the three months ended March 30, 2024, and April 1, 2023. The Helios Technologies, Inc. Non-Employee Director Compensation Policy compensates Non-Employee Directors for their board service with cash awards and equity-based compensation through grants of RSUs, issued pursuant to the 2019 Plan or 2023 Plan, which vest over a one-year period. Direct ors were granted 6,183 and 3,939 RSUs during the three months ended March 30, 2024, and April 1, 2023, respectively. The Company recognized director stock compensation expense on the RSUs of $0.3 and $0.4 for the three months e nded March 30, 2024, and April 1, 2023, respectively. The following table summarizes RSU activity for the three months ended March 30, 2024:
|  |  |  |  | Weighted Average |
|  | Number of Units |  |  | Grant-Date |
|  | (in thousands) |  |  | Fair Value per Share |
Nonvested balance at December 30, 2023 |  |  | 303 |  |  | $ | 63.29 |
Granted |  |  | 288 |  |  |  | 41.97 |
Vested |  |  | (112 | ) |  |  | 60.77 |
Forfeited |  |  | (8 | ) |  |  | 61.38 |
Nonvested balance at March 30, 2024 |  |  | 471 |  |  | $ | 50.92 |
Included in the nonvested balance at March 30, 2024, is 186,202 nonvested performance-based RSUs. The Company had $16.4 of total unrecognized compensation cost related to the RSU awards as of March 30, 2024. That cost is expected to be recognized over a weighted average period of 2.2 years. Stock Options The Company has granted stock options with market-based exercise conditions to its officers. As of March 30, 2024, there were 68,000 unvested options and no vested unexercised options. The exercise price per share is $50.60, which is equal to the market price of Helios stock on the grant dat e. The options vest upon, the later of, the achievement of defined stock prices or two years from the grant date. The options include required service periods, which range from one to two years from the grant date. These options have a 10-year expiration. The Company has also granted stock options with only time-based vesting conditions to its officers. As of March 30, 2024, there are no unvested options and 24,233 vested unexercised options. The exercise prices per share, which range from $35.04 to $55.03, are equal to the market price of Helios stock on the respective grant dates. The options vest ratably over a three-year period and have a 10-year expiration. The grant date fair value of the options was estimated using a Black Scholes valuation model. At March 30, 2024, the Company had less than $0.1 of unrecognized compensation cost related to the options, which is expected to be recognized over a weighted average period of 0.6 years. The Company recognized expense on the stock options of less than $0.1 and $0.5 for the three months ended March 30, 2024, and April 1, 2023, respectively. Employee Stock Purchase Plans The Company maintains an Employee Stock Purchase Plan (“ESPP”) in which U.S. employees are eligible to participate. Employees who choose to participate are granted an opportunity to purchase common stock at 85 percent of market value on the first or last day of the quarterly purchase period, whichever is lower. Employees in the United Kingdom (“UK”), under a separate plan, are granted an opportunity to purchase the Company’s common stock at market value, on the first or last day of the quarterly purchase period, whichever is lower, with the Company issuing one additional free sh are of common stock for each six shares purchased by the employee under the plan. Employees purch ased 12,793 shares at a weighted average price of $38.06 and 11,437 sh ares at a weighted average price of $46.31, under the ESPP and UK plans during the three months ended March 30, 2024, and April 1, 2023, respectively. The Company recognized $0.1 and $0.2 of compensation expense during the three months ended March 30, 2024, and April 1, 2023, respectively.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ShareBasedCompensationAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration