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Common Shares and Share-Based Compensation (Tables)

9 Months Ended

Sep. 27, 2019

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 28,		September 27,		September 28,
	2019		2018		2019		2018
Selling, general and administrative	$	1,926	$	1,523	$	6,546	$	5,021
Research and development and engineering		171		114		466		306
Cost of revenue		146		58		336		148
Total share-based compensation expense	$	2,243	$	1,695	$	7,348	$	5,475

Schedule of Share Based Payment Award Performance Stock Awards Valuation Assumptions

The fair value of the TSR-PSUs at the date of grant was estimated using the Monte-Carlo valuation model with the following assumptions:

	Nine Months Ended September 27, 2019
Grant-date stock price	$	77.23
Expected volatility		32.54	%
Risk-free interest rate		2.46	%
Expected annual dividend yield		—
Fair value	$	108.58

2010 Incentive Award Plan

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

Restricted Stock Units and Deferred Stock Units Issued and Outstanding

The table below summarizes activities relating to RSUs and DSUs issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan during the nine months ended September 27, 2019:

	Shares (In thousands)			Weighted Average Grant Date Fair Value
Unvested at December 31, 2018		529		$	26.98
Granted		111		$	75.93
Vested		(170	)	$	27.34
Forfeited		(23	)	$	48.01
Unvested at September 27, 2019		447		$	37.87
Expected to vest as of September 27, 2019		427

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, 2019:

	Shares (In thousands)			Weighted Average Grant Date Fair Value
Unvested at December 31, 2018		137		$	37.28
Granted		46		$	92.63
Performance adjustment ⁽¹⁾		29		$	14.13
Vested		(59	)	$	14.13
Forfeited		—		$	—
Unvested at September 27, 2019		153		$	57.92
Expected to vest as of September 27, 2019		150

(1)

Represents adjustment for performance-based awards granted on March 30, 2016. These units vested at 200% during the nine months ended September 27, 2019 based on the achievement of cumulative Non-GAAP EPS during the performance period of fiscal years 2016 through 2018.