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

9 Months Ended

Sep. 27, 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				Nine Months Ended
	September 27,		September 29,		September 27,		September 29,
	2024		2023		2024		2023
Selling, general and administrative	$	5,357	$	5,229	$	16,006	$	15,631
Research and development and engineering		636		510		1,796		1,495
Cost of revenue		371		298		870		1,252
Total share-based compensation expense	$	6,364	$	6,037	$	18,672	$	18,378

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 nine months ended September 27, 2024 was estimated using the Monte Carlo valuation method with the following assumptions:

	Nine Months Ended September 27, 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 nine months ended September 27, 2024 was estimated using the following assumptions as of the grant date:

	Nine Months Ended September 27, 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 nine months ended September 27, 2024:

	Shares (In thousands)			Weighted Average Grant Date Fair Value
Unvested at December 31, 2023		206		$	143.97
Granted		102		$	159.52
Vested		(102	)	$	140.93
Forfeited		(10	)	$	152.90
Unvested at September 27, 2024		196		$	153.16
Expected to vest as of September 27, 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 nine months ended September 27, 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		(11	)	$	168.05
Unvested at September 27, 2024		245		$	165.03
Expected to vest as of September 27, 2024		228

(1) The amount shown represents performance adjustments related to the performance-based awards vested during the nine months ended September 27, 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 nine months ended September 27, 2024:

	Shares (In thousands)			Weighted Average Exercise Price
Outstanding as of December 31, 2023		132		$	102.86
Granted		53		$	157.48
Exercised		(15	)	$	14.13
Forfeited or expired		—		$	—
Outstanding as of September 27, 2024		170		$	128.03
Exercisable as of September 27, 2024		72
Expected to vest as of September 27, 2024		98