Net Income Per Common Share

3 Months Ended

Mar. 28, 2025

2. Net Income per Common Share

Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding during the period. With regard to common stock subject to vesting requirements and restricted stock units issued to the Company’s employees and non-employee members of its Board of Directors, the calculation includes only the vested portion of such stock and units.

Diluted net income per common share is computed by dividing net income by the weighted average number of common shares outstanding, increased by the assumed conversion of other potentially dilutive securities during the period.

The following table reconciles basic and dilutive weighted average common shares:


	Quarter Ended
	March 28,		March 29,
	2025		2024

Basic weighted average common shares outstanding		27,587,327		27,422,461
Effect of dilutive securities:
Unvested restricted stock units and common stock subject to vesting requirements issued to employees and non-employees		797,640		253,465
Dilutive weighted average common shares outstanding		28,384,967		27,675,926

Approximately 86 shares of common stock equivalents were excluded from the computations of diluted net income per common share for the three months ended March 28, 2025, as compared to three thousand shares for the three months ended March 29, 2024, as inclusion would have had an anti-dilutive effect on diluted net income per common share. In addition, 1.3 million restricted stock units in the three months ended March 28, 2025, were excluded from the computations of diluted net income per common share as they are contingently issuable shares with market-related conditions that have not been satisfied. Please see Note 7 for further information.