XML 28 R18.htm IDEA: XBRL DOCUMENT
v3.21.2

Stockholders' Equity | 6 Months Ended
--- | ---
Jul. 02, 2021
Stockholders Equity Note [Abstract] |
Stockholders' Equity | Note 11 — Stockholders’ Equity Stock-Based Compensation The cost that has been charged against income for stock-based compensation is set forth below (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | July 2, 2021 |  |  | July 3, 2020 |  |  | July 2, 2021 |  |  | July 3, 2020 |
Employee stock options |  | $ | 2,784 |  |  | $ | 2,505 |  |  | $ | 5,256 |  |  | $ | 4,737 |
Restricted stock |  |  | 232 |  |  |  | 76 |  |  |  | 398 |  |  |  | 154 |
Restricted stock units |  |  | 811 |  |  |  | 274 |  |  |  | 1,348 |  |  |  | 823 |
Performance stock units |  |  | 108 |  |  |  | — |  |  |  | 201 |  |  |  | — |
Nonemployee stock options |  |  | 57 |  |  |  | 63 |  |  |  | 119 |  |  |  | 125 |
Total stock-based compensation expense |  | $ | 3,992 |  |  | $ | 2,918 |  |  | $ | 7,322 |  |  | $ | 5,839 |
The Company recorded stock-based compensation costs in the following categories (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | July 2, 2021 |  |  | July 3, 2020 |  |  | July 2, 2021 |  |  | July 3, 2020 |
Cost of sales |  | $ | 54 |  |  | $ | 30 |  |  | $ | 89 |  |  | $ | 52 |
General and administrative |  |  | 1,815 |  |  |  | 1,209 |  |  |  | 3,254 |  |  |  | 2,294 |
Selling and marketing |  |  | 953 |  |  |  | 812 |  |  |  | 1,786 |  |  |  | 1,867 |
Research and development |  |  | 1,170 |  |  |  | 867 |  |  |  | 2,193 |  |  |  | 1,626 |
Total stock-based compensation expense, net |  |  | 3,992 |  |  |  | 2,918 |  |  |  | 7,322 |  |  |  | 5,839 |
Amounts capitalized as part of inventory |  |  | 390 |  |  |  | 291 |  |  |  | 699 |  |  |  | 560 |
Total stock-based compensation expense, gross |  | $ | 4,382 |  |  | $ | 3,209 |  |  | $ | 8,021 |  |  | $ | 6,399 |
Incentive Plan The Amended and Restated Omnibus Equity Incentive Plan (“the Plan”) provides for various forms of stock-based incentives. To date, of the available forms of awards under the Plan, the Company has granted only stock options, restricted stock, unrestricted share grants, restricted stock units (“RSUs”) and performance stock units (“PSUs”). Options under the Plan are granted at fair market value on the date of grant, become exercisable generally over a three-year period, or as determined by the Board of Directors, and expire over periods not exceeding 10 years from the date of grant. Certain option and share awards provide for accelerated vesting if there is a change in control and pre-established financial metrics are met (as defined in the Plan). Grants of restricted stock outstanding under the Plan generally vest over periods of one to three years. Grants of RSUs and PSUs outstanding under the Plan generally vest based on service, performance, or a combination of both. As of July 2, 2021, there were 3,038,928 shares available for grant under the Plan. Assumptions The fair value of each option award is estimated on the date of grant using a Black-Scholes option valuation model applying the weighted-average assumptions noted in the following table. Expected volatilities are based on historical volatility of the Company’s stock. The expected term of options granted is derived from the historical exercises and post-vesting cancellations and represents the period of time that options granted are expected to be outstanding. The Company has calculated an 6% estimated forfeiture rate based on historical forfeiture experience. The risk-free rate is based on the U.S. Treasury yield curve corresponding to the expected term at the time of the grant. Note 11 — Stockholders’ Equity (Continued)
|  | Three Months Ended |  |  | Six Months Ended |
|  | July 2, 2021 |  |  | July 3, 2020 |  |  | July 2, 2021 |  |  | July 3, 2020 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
Expected volatility |  |  | 53 | % |  |  | 53 | % |  |  | 53 | % |  |  | 53 | %
Risk-free interest rate |  |  | 0.83 | % |  |  | 0.31 | % |  |  | 0.84 | % |  |  | 0.53 | %
Expected term (in years) |  |  | 5.38 |  |  |  | 5.72 |  |  |  | 5.38 |  |  |  | 5.72 |
Stock Options A summary of stock option activity under the Plan for six months ended July 2, 2021is presented below:
|  | Stock Options (in 000’s) |  |  | Minimum Exercise Price |  |  | Maximum Exercise Price |
Outstanding at January 1, 2021 |  |  | 3,418 |  |  |  |  |  |  |  |  |
Granted |  |  | 258 |  |  |  |  |  |  |  |  |
Exercised |  |  | (906 | ) |  |  |  |  |  |  |  |
Forfeited or expired |  |  | (23 | ) |  |  |  |  |  |  |  |
Outstanding at July 2, 2021 |  |  | 2,747 |  |  | $ | 5.34 |  |  | $ | 154.96 |
Exercisable at July 2, 2021 |  |  | 1,928 |  |  |  |  |  |  |  |  |
Restricted Stock, Restricted Stock Units and Performance Stock Units A summary of restricted stock, RSUs and PSUs activity under the Plan for the six months ended July 2, 2021 is presented below (shares in thousands):
|  | Restricted Stock |  |  | RSUs |  |  | PSUs |
Unvested at January 1, 2021 |  |  | 11 |  |  |  | 122 |  |  |  | 15 |
Granted |  |  | 3 |  |  |  | 48 |  |  |  | — |
Vested |  |  | (11 | ) |  |  | (34 | ) |  |  | — |
Forfeited or expired |  |  | — |  |  |  | — |  |  |  | — |
Unvested at July 2, 2021 |  |  | 3 |  |  |  | 136 |  |  |  | 15 |

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

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration