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Note 8 - Stock-based Compensation | 6 Months Ended
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Jul. 02, 2023
Notes to Financial Statements |
Share-Based Payment Arrangement [Text Block] | Note 8 — Stock-Based Compensation Stock-based compensation expense included in the Company's consolidated financial statements for the three and six months ended July 2, 2023 and July 3, 2022 was as follows (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | July 2, 2023 |  |  | July 3, 2022 |  |  | July 2, 2023 |  |  | July 3, 2022 |
Cost of revenue |  | $ | 88 |  |  | $ | 117 |  |  | $ | 166 |  |  | $ | 173 |
Research and development |  |  | 158 |  |  |  | 91 |  |  |  | 342 |  |  |  | 176 |
Selling, general and administrative |  |  | 340 |  |  |  | 269 |  |  |  | 793 |  |  |  | 511 |
Total |  | $ | 586 |  |  | $ | 477 |  |  | $ | 1,301 |  |  | $ | 860 |
The Company capitalized stock-based compensation amounts to capitalized internal-use software and tooling, net of $61 thousand and $0 for the six months ended July 2, 2023 and July 3, 2022, respectively. Stock-Based Compensation Award Activity The following table summarizes the activity in the shares available for grant under the 2019 Plan during the six months ended July 2, 2023 (in thousands):
| Shares Available for Grants |
Balance at January 1, 2023 |  | 960 |
Authorized |  | — |
RSUs granted |  | (55 | )
RSUs forfeited or expired |  | 9 |
Options expired |  | 2 |
Balance at July 2, 2023 |  | 916 |
Stock Options The following table summarizes stock options outstanding and stock option activity under the 2009 Plan and the 2019 Plan, and the related weighted average exercise price for the six months ended July 2, 2023:
|  |  |  |  |  | Weighted |  |  | Weighted |  |  |  |  |
|  |  |  |  |  | Average |  |  | Average |  |  | Aggregate |
|  | Number of |  |  | Exercise |  |  | Remaining |  |  | Intrinsic |
|  | Shares |  |  | Price |  |  | Term |  |  | Value |
|  | (in thousands) |  |  |  |  |  |  | (in years) |  |  | (in thousands) |
Balance outstanding at January 1, 2023 |  |  | 75 |  |  | $ | 24.50 |  |  |  | 2.80 |  |  | $ | — |
Forfeited or expired |  |  | (2 | ) |  | $ | 32.93 |  |  |  |  |  |  |  |  |
Balance outstanding, exercisable, and vested at July 2, 2023 |  |  | 73 |  |  | $ | 24.24 |  |  |  | 2.38 |  |  | $ | — |
No stock options were granted, exercised, or forfeited during the six months ended July 2, 2023. Stock options for approximately 2 thousand shares expired during the six months ended July 2, 2023. No stock options were granted, exercised, forfeited, or expired during the six months ended July 3, 2022. Total stock-based compensation related to stock options was $0 during the six months ended July 2, 2023 and July 3, 2022. Restricted Stock Units The Company grants restricted stock units (“RSUs”) and performance restricted stock units ("PRSUs") to employees and directors with various vesting terms. RSUs entitle the holder to receive, at no cost, one common share for each RSU as it vests. In general, the Company's policy is to withhold shares in settlement of employee tax withholding obligations upon the vesting of RSUs. The stock-based compensation expense related to RSUs and PRSUs were approximately $0.6 million and $1.2 million for the three and six months ended July 2, 2023 and approximately $0.5 million and $0.9 million for the three and six months ended July 3, 2022, respectively. As of July 2, 2023 and July 3, 2022, there was approximately $1.8 million and $1.1 million, respectively, in unrecognized compensation expense related to RSUs. The remaining unrecognized stock-based compensation expense as of July 2, 2023 is expected to be recorded over a weighted average period of 1.18 years. A summary of activity for the Company's RSUs and PRSUs for the six months ended July 2, 2023 is as follows:
| RSUs & PRSUs Outstanding
|  |  |  | Weighted
|  |  |  | Average
| Number of |  | Grant Date
| Shares |  | Fair Value
| (in thousands) |  |  |
Nonvested at January 1, 2023 |  | 630 |  | $ | 6.05
Granted |  | 55 |  |  | 6.11
Vested and released |  | (45 | ) |  | 5.80
Forfeited |  | (9 | ) |  | 7.25
Nonvested at July 2, 2023 |  | 631 |  | $ | 6.05
Employee Stock Purchase Plan Total stock-based compensation related to the Company's Employee Stock Purchase Plan was approximately $16 thousand and $75 thousand for the three and six months ended July 2, 2023, respectively, and $11 thousand and $34 thousand for the three and six months ended July 3, 2022, respectively.

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