Preferred and Common Shares and Share-Based Compensation (Tables)

6 Months Ended

Jun. 28, 2024

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Share-Based Compensation Expense Recorded in the Consolidated Statements of Operations

The table below summarizes share-based compensation expense recorded in the consolidated statements of operations (in thousands):

	Three Months Ended				Six Months Ended
	June 28,		June 30,		June 28,		June 30,
	2024		2023		2024		2023
Selling, general and administrative	$	5,552	$	4,871	$	10,649	$	10,402
Research and development and engineering		601		542		1,160		985
Cost of revenue		78		462		499		954
Total share-based compensation expense	$	6,231	$	5,875	$	12,308	$	12,341

Schedule of Share Based Payment Award Performance Stock Awards Valuation Assumptions

The grant-date fair value per unit of the hybrid PSUs granted during the six months ended June 28, 2024 was estimated using the Monte Carlo valuation method with the following assumptions:

	Three Months Ended June 28, 2024
Grant-date stock price	$	157.48
Expected volatility		36.90	%
Risk-free interest rate		4.35	%
Expected annual dividend yield		—
Fair value	$	180.98

Schedule of Share Based Payment Award Stock Options Valuation Assumptions

The aggregate Black-Scholes fair value of $3.3 million for the stock options granted during the six months ended June 28, 2024 was estimated using the following assumptions as of the grant date:

	Six Months Ended June 28, 2024
Expected option term in years		4.5
Expected volatility		40.3	%
Risk-free interest rate		4.2	%
Expected annual dividend yield		—

Amended and Restated 2010 Incentive Plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Restricted Stock Units Issued and Outstanding

The table below summarizes activities relating to RSUs issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan during the six months ended June 28, 2024:

	Shares (In thousands)			Weighted Average Grant Date Fair Value
Unvested at December 31, 2023		206		$	143.97
Granted		97		$	158.99
Vested		(97	)	$	140.29
Forfeited		(7	)	$	151.54
Unvested at June 28, 2024		199		$	152.83
Expected to vest as of June 28, 2024		178

Performance-Based Awards Issued and Outstanding

The table below summarizes the activities relating to the performance-based awards issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan during the six months ended June 28, 2024:

	Shares (In thousands)			Weighted Average Grant- Date Fair Value
Unvested at December 31, 2023		205		$	160.24
Granted		80		$	177.06
Performance adjustments(1)		16		$	166.64
Vested		(45	)	$	168.60
Forfeited		(8	)	$	166.22
Unvested at June 28, 2024		248		$	165.12
Expected to vest as of June 28, 2024		231

(1) The amount shown represents performance adjustments related to the performance-based awards vested during the six months ended June 28, 2024.

Stock Options Issued and Outstanding

The table below summarizes the activities relating to stock options issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan during the six months ended June 28, 2024:

	Shares (In thousands)		Weighted Average Exercise Price
Outstanding as of December 31, 2023		132	$	102.86
Granted		53	$	157.48
Exercised		—	$	—
Forfeited or expired		—	$	—
Outstanding as of June 28, 2024		185	$	118.57
Exercisable as of June 28, 2024		87
Expected to vest as of June 28, 2024		98