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Share-Based Compensation
 6 Months Ended
Jun. 28, 2024
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation
Note 9 – Share‑Based Compensation
The 2016 Omnibus Incentive Plan provides for grants of share‑based awards to employees, directors, and consultants. Awards may be in the form of stock options (“options”), tandem and non‑tandem stock appreciation rights, restricted share awards or restricted share units (“RSUs”), performance awards, and other share‑based awards. Forfeited or expired awards are returned to the incentive plan pool for future grants. Awards generally vest over four years, 25% on the first anniversary of the date of grant and quarterly thereafter over the remaining three years. Upon vesting of RSUs, shares are withheld to cover statutory minimum withholding taxes. Shares withheld are not reflected as an issuance of ordinary shares within our consolidated statements of shareholders’ equity, as the shares are never issued, and the associated tax payments are reflected as financing activities within our consolidated statements of cash flows.
Share‑based compensation expense across all plans for options, RSUs, and employee share purchase rights was $3.9 million and $4.3 million for the second quarter of 2024 and 2023, respectively, and $6.3 million and $7.9 million for the six months ended June 28, 2024 and June 30, 2023, respectively.
Stock Options
The following table summarizes option activity:
Number of Stock Options
Service
condition		Weighted average exercise price
per share		Weighted average remaining
contractual term		Aggregate intrinsic value
Outstanding, December 29, 2023582,163$24.36 
Granted—$— 
Exercised(142,331)$24.59 
Forfeited or expired(639)$21.76 
Outstanding, June 28, 2024439,193$24.28 1.4 years$6,266 
Exercisable, June 28, 2024439,193$24.28 1.4 years$6,266 
Restricted Share Units
The following table summarizes RSU activity:
Number of RSUs
Service
condition		Performance
condition		Market
condition		Weighted average grant-date fair
value per share
Unvested, December 29, 20231,088,08397,299171,101$30.37 
Granted389,622100,94162,776$40.33 
Vested(251,711)(6,609)(8,617)$32.04 
Forfeited(74,110)(13,021)(23,419)$30.26 
Unvested, June 28, 20241,151,884178,610201,841$33.61 
Employee Share Purchase Plan
The 2017 Employee Stock Purchase Plan (the “2017 ESPP”) grants employees the ability to designate a portion of their base-pay to purchase ordinary shares at a price equal to 85% of the fair market value of our ordinary shares on the first or last day of each six-month purchase period. Purchase periods begin on January 1 or July 1 and end on June 30 or December 31 (or the next business day if such date is not a business day). Shares are purchased on the last day of the purchase period.
As of June 28, 2024, approximately 2.1 million ordinary shares remain available for purchase under the 2017 ESPP.