XML 23 R16.htm IDEA: XBRL DOCUMENT v3.25.3
STOCKHOLDERS’ EQUITY
 9 Months Ended
Sep. 26, 2025
Equity [Abstract]  
STOCKHOLDERS’ EQUITY

NOTE 7: STOCKHOLDERS’ EQUITY

Share-based Compensation Plans

The following table sets forth the detailed allocation of the share-based compensation expense which was included in the Company’s condensed consolidated statements of operations:

 

Three Months Ended

 

Nine Months Ended

(in thousands)

September 26, 2025

 

September 27, 2024

 

September 26, 2025

 

September 27, 2024

Cost of revenue

$

260

 

$

295

 

$

1,689

 

$

1,091

Research and development

 

1,904

 

 

1,804

 

 

5,601

 

 

5,282

Selling, general and administrative

 

5,160

 

 

3,611

 

 

16,196

 

 

13,214

Total

$

7,324

 

$

5,710

 

$

23,486

 

$

19,587

 

Restricted Stock Units

(in thousands, except per share amounts)

Number of
Shares

 

Weighted Average
Grant-Date Fair
Value Per Share

Balance at December 31, 2024

 

3,447

 

$

12.95

Granted

 

3,148

 

 

8.71

Vested

 

(2,064)

 

 

12.59

Forfeited

 

(162)

 

 

12.90

Balance at September 26, 2025

 

4,369

 

$

10.07

 

The Company’s stock benefit plans include the 2002 Employee Stock Purchase Plan (as amended and restated, the “ESPP”) and, until June 2025, stock plans adopted in 1995 and 2002 (as amended and restated, the “1995 Stock Plan” and “2002 Director Plan”, respectively). Refer to Note 11, “Employee Benefit Plans” of Notes to Consolidated Financial Statements in the 2024 Form 10-K for details pertaining to each plan.

In June 2025, the Company’s stockholders approved the 2025 Equity Incentive Plan (the “2025 Stock Plan”) to replace the 1995 Stock Plan and 2002 Director Plan. Stockholders also approved an amendment to the 2002 ESPP, increasing the number of shares of common stock reserved for issuance by 500,000 shares. As of September 26, 2025, an aggregate of 6,855,570 shares of common stock were reserved for issuance under the 2025 Stock Plan, of which 5,215,195 shares remained available for future grants.

Share Repurchase Program

In February 2025, the Board of Directors terminated the Company’s existing stock repurchase program and authorized a new program under which the Company may repurchase up to $200 million of its outstanding shares of common stock through February 2028. The Company is authorized to repurchase, from time-to-time, shares of its outstanding common stock through open market purchases and 10b5-1 trading plans, in accordance with applicable rules and regulations, at such time and such prices as management may decide. The program does not obligate the Company to repurchase any specific number of shares and may be discontinued at any time. The actual timing and amount of repurchases are subject to business and market conditions, corporate and regulatory requirements, stock price, acquisition opportunities and other factors.

During the nine months ended September 26, 2025, the Company repurchased and retired approximately 6.9 million shares of the Company’s common stock for an aggregate amount of $65.8 million. As of September 26, 2025, approximately $134.2 million of the share repurchase authorization remained available for repurchases under this program.