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STOCK-BASED COMPENSATION AND EQUITY | 9 Months Ended
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Sep. 27, 2025
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
STOCK-BASED COMPENSATION AND EQUITY | 11. STOCK-BASED COMPENSATION AND EQUITY 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 of Shareholders. 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. Awards 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 $2.4 and $2.9, respectively, for the nine months ended September 27, 2025, and September 28, 2024. 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 2023 Plan, which vest over a one-year period. Directors were granted 20,111 and 17,714 RSUs during the nine months ended September 27, 2025, and September 28, 2024, respectively. The Company recognized director stock compensation expense on the RSUs of $0.7 and $0.9 for the nine months ended September 27, 2025, and September 28, 2024, respectively. The following table summarizes RSU activity for the nine months ended September 27, 2025:
|  |  |  |  | Weighted Average |
|  | Number of Units |  |  | Grant-Date |
|  | (in thousands) |  |  | Fair Value per Share |
Nonvested balance at December 28, 2024 |  |  | 224 |  |  | $ | 49.13 |
Granted |  |  | 122 |  |  |  | 38.68 |
Vested |  |  | (81 | ) |  |  | 54.66 |
Forfeited |  |  | (22 | ) |  |  | 42.98 |
Nonvested balance at September 27, 2025 |  |  | 243 |  |  | $ | 42.59 |
Included in the nonvested balance at September 27, 2025, are 58,041 nonvested performance-based RSUs. The Company had $5.6 of total unrecognized compensation cost related to the RSU awards as of September 27, 2025. That cost is expected to be recognized over a weighted average period of 1.7 years. Stock Options In February 2025, the Company granted additional stock options with time and performance vesting conditions to its officers and employees. 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 options 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. These options have an exercise price per share of $39.80 which is equal to the market price of Helios stock on the grant date. The options have a 10-year expiration. The grant date fair value of the options totaled $2.5 and was estimated using a Black Scholes valuation model. As of September 27, 2025, there are 131,933 unvested options. At September 27, 2025, the Company had $2.1 of unrecognized compensation cost related to the options, which is expected to be recognized over a weighted average period of 2.3 years.
|  | Number of Shares (not rounded) |  |  | Weighted Average Exercise Price |
Outstanding at December 28, 2024 |  |  | 46,529 |  |  | $ | 42.29 |
Granted |  |  | 131,933 |  |  |  | 39.80 |
Forfeited/Expired |  |  | (20,458 | ) |  |  | 39.89 |
Outstanding at September 27, 2025 |  |  | 158,004 |  |  |  | 40.52 |
Exercisable at September 27, 2025 (A) |  |  | 4,693 |  |  |  | 49.67 |
(A) Options expire between the years 2030-2032 with strike prices between $39.75 - $55.03. Share Repurchase Plan On February 20, 2025, the Board approved a multi-year share repurchase program (the "Share Repurchase Program"), authorizing the Company to repurchase up to $100.0 of our outstanding common stock. The Company may purchase shares at management’s discretion from time to time in the open market, through privately negotiated transactions, through investment banking institutions or through other means in accordance with applicable federal securities laws, including Rule 10b5-1 trading plans. To the extent that the Company repurchases its shares, the amount and timing of any repurchases are subject to a variety of factors including, but not limited to, general business and market conditions, share price, regulatory and legal requirements and capital availability. The program does not obligate the Company to acquire a minimum number of shares. The share repurchase program will be funded with cash on hand and cash generated from operations. As of September 27, 2025, the Company has repurchased 250,000 shares under the Share Repurchase Program. As of September 27, 2025, the Company has $90.8 million of remaining availability to repurchase outstanding common stock under its Share Repurchase Program. 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 share of common stock for each six shares purchased by the employee under the plan. Employees purchased 49,710 shares at a weighted average price of $27.89 and 37,681 shares at a weighted average price of $38.44, under the ESPP and UK plans during the nine months ended September 27, 2025, and September 28, 2024, respectively. The Company recognized $0.6 and $0.3 in compensation expense during the nine months ended September 27, 2025, and September 28, 2024, respectively.

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