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Note 8 - Stock-based Compensation | 9 Months Ended
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Oct. 01, 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 nine months ended October 1, 2023 and October 2, 2022 was as follows (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | October 1, 2023 |  |  | October 2, 2022 |  |  | October 1, 2023 |  |  | October 2, 2022 |
Cost of revenue |  | $ | 73 |  |  | $ | 44 |  |  | $ | 239 |  |  | $ | 217 |
Research and development |  |  | 171 |  |  |  | 149 |  |  |  | 513 |  |  |  | 325 |
Selling, general and administrative |  |  | 372 |  |  |  | 294 |  |  |  | 1,165 |  |  |  | 805 |
Total |  | $ | 616 |  |  | $ | 487 |  |  | $ | 1,917 |  |  | $ | 1,347 |
The Company capitalized stock-based compensation amounts to capitalized internal-use software and tooling, net of $119 thousand and $0 for the nine months ended October 1, 2023 and October 2, 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 nine months ended October 1, 2023 (in thousands):
|  | Shares Available for Grants |
Balance at January 1, 2023 |  |  | 960 |
Authorized |  |  | — |
Restricted stock units (RSUs) granted |  |  | (393 | )
RSUs forfeited or expired |  |  | 15 |
Options expired |  |  | 2 |
Balance at October 1, 2023 |  |  | 584 |
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 nine months ended October 1, 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 October 1, 2023 |  |  | 73 |  |  | $ | 24.24 |  |  |  | 2.13 |  |  | $ | — |
No stock options were granted or exercised during the nine months ended October 1, 2023. No stock options were granted, exercised, forfeited, or expired during the nine months ended October 2, 2022. Total stock-based compensation related to stock options was $0 during the nine months ended October 1, 2023 and October 2, 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 $1.8 million for the three and nine months ended October 1, 2023 and approximately $0.5 million and $1.3 million for the three and nine months ended October 2, 2022, respectively. As of October 1, 2023 and October 2, 2022, there was approximately $3.7 million and $1.1 million, respectively, in unrecognized compensation expense related to RSUs. The remaining unrecognized stock-based compensation expense as of October 1, 2023 is expected to be recorded over a weighted average period of 1.52 years. A summary of activity for the Company's RSUs and PRSUs for the nine months ended October 1, 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 |  |  | 393 |  |  |  | 8.07 |
Vested and released |  |  | (224 | ) |  |  | 6.14 |
Forfeited |  |  | (15 | ) |  |  | 6.73 |
Nonvested at October 1, 2023 |  |  | 784 |  |  | $ | 7.02 |
Employee Stock Purchase Plan Total stock-based compensation related to the Company's Employee Stock Purchase Plan was approximately $25 thousand and $100 thousand for the three and nine months ended October 1, 2023, respectively, and $20 thousand and $54 thousand for the three and nine months ended October 2, 2022, respectively.

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