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Note 11 - Stock-based Compensation

9 Months Ended

Sep. 28, 2025

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

Note 11 — Stock-Based Compensation

Stock-based compensation expense from continuing operations included in the Company's unaudited condensed consolidated financial statements for the three and nine months ended September 28, 2025 and September 29, 2024 was as follows (in thousands):

		*Three Months Ended*								*Nine Months Ended*
		*September 28, 2025*				*September 29, 2024*				*September 28, 2025*				*September 29, 2024*
Cost of revenue		$	231			$	237			$	578			$	675
Research and development			96				428				443				729
Selling, general and administrative			501				645				1,586				2,131
Total		$	828			$	1,310			$	2,607			$	3,535

The Company capitalized certain stock-based compensation amounts to capitalized internal-use software and tooling, net related to continuing operations of $13 thousand and $41 thousand for the three and nine months ended September 28, 2025, respectively, and $12 thousand and $42 thousand for the three and nine months ended September 29, 2024, respectively. The capitalized stock-based compensation amounts relate to compensation for employees involved in the development of capitalized internal-use software and tooling.

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 September 28, 2025 (in thousands):

		*Shares Available for Grants*
Balance at December 29, 2024			65
Authorized			1,100
PSUs/RSUs granted			(618	)
PSUs/RSUs forfeited or expired			36
Balance at September 28, 2025			583

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 September 28, 2025:

Weighted

Weighted

Average

Average

Aggregate

Number of

Exercise

Remaining

Intrinsic

Shares

Price

Term

Value

(in thousands)

(in years)

(in thousands)

Balance outstanding at December 29, 2024

48

$

12.05

Forfeited or expired

—

$

—

Balance outstanding, exercisable, and vested at September 28, 2025

48

$

12.05

0.94

$

—

No stock options were granted or exercised during the nine months ended September 28, 2025 and September 29, 2024. No stock options expired during the nine months ended September 28, 2025. Stock options equivalent to 6 thousand shares expired during the nine months ended September 29, 2024.

Total stock-based compensation related to stock options was $0 during the nine months ended September 28, 2025 and September 29, 2024.

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 in continuing operations related to RSUs and PRSUs were approximately $0.8 million and $2.5 million for the three and nine months ended September 28, 2025, respectively and approximately $1.2 million and $3.5 million for the three and nine months ended September 29, 2024, respectively.

As of September 28, 2025 and September 29, 2024, there was approximately $3.6 million and $3.8 million, respectively, in unrecognized stock-based compensation expense related to RSUs. The remaining unrecognized stock-based compensation expense as of September 28, 2025 is expected to be recorded over a weighted average period of 1.68 years.

A summary of activity for the Company's RSUs and PRSUs for the nine months ended September 28, 2025 is as follows:

		*RSUs & PRSUs Outstanding*
						*Weighted*
						*Average*
		*Number of*				*Grant Date*
		*Shares*				*Fair Value*
		(in thousands)
Nonvested at December 29, 2024			599			$	7.97
Granted			618				5.01
Vested and released			(419	)			7.64
Forfeited			(36	)			8.65
Nonvested at September 28, 2025			762			$	5.72

Employee Stock Purchase Plan

Total stock-based compensation in continuing operations related to the Company's Employee Stock Purchase Plan was approximately $51 thousand and $111 thousand for the three and nine months ended September 28, 2025, respectively and approximately $32 thousand and $71 thousand for the three and nine months ended September 29, 2024, respectively.