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Stock-Based Compensation (Tables)

12 Months Ended

Jan. 03, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Performance-Based Restricted Stock Units Activity

PRU activity for the year ended January 3, 2022 was as follows:

	Shares			Weighted Average Fair Value
	(In thousands)
Outstanding shares as of December 28, 2020		289		$	10.27
Granted		325			14.23
Vested		(181	)		9.20
Forfeited / cancelled		(10	)		9.20
Change in units due to annual performance achievement		(97	)		8.38
Outstanding shares as of January 3, 2022		326		$	15.41

Assumptions Used in Determining Fair Value

For the years ended January 3, 2022, December 28, 2020 and December 30, 2019, the following assumptions were used in determining the fair value:

	For the Year Ended
	January 3, 2022 ⁽¹⁾			December 28, 2020 ⁽²⁾			December 30, 2019 ⁽³⁾
Weighted-average fair value	$	14.23		$	10.57		$	10.17
Risk-free interest rate		0.18	%		0.18	%		2.18	%
Dividend yield		—			—			—
Expected volatility		47	%		49	%		38	%

(1)

Reflects the weighted-averages for the third year of the three-year performance period applicable to PRUs granted in 2019, the second year of the three-year performance period applicable to PRUs granted in 2020 and the first year of the three-year performance period applicable to PRUs granted in 2021.

(2)

Reflects the weighted-averages for the third year of the three-year performance period applicable to PRUs granted in 2018, the second year of the three-year performance period applicable to PRUs granted in 2019 and the first year of the three-year performance period applicable to PRUs granted in 2020.

(3)

Reflects the weighted-averages for the third year of the three-year performance period applicable to PRUs granted in 2017, the second year of the three-year performance period applicable to PRUs granted in 2018 and the first year of the three-year performance period applicable to PRUs granted in 2019.

Restricted Stock Units Activity

RSU activity for the year ended January 3, 2022 was as follows:

	Shares			Weighted Average Grant-Date Fair Value
	(In thousands)
Non-vested RSUs outstanding as of December 28, 2020		2,566		$	11.20
Granted		1,395			14.40
Vested		(1,174	)		14.65
Forfeited		(190	)		11.63
Non-vested RSUs outstanding as of January 3, 2022		2,597		$	12.70
Vested and expected to vest through 2024 as of January 3, 2022		3,127		$	12.41

Amounts Recognized in Consolidated Financial Statements of Operations with Respect to Stock Based Compensation Plan

For the years ended January 3, 2022, December 28, 2020 and December 30, 2019, the amounts recognized in the consolidated statements of operations with respect to the stock-based compensation plan are as follows:

	For the Year Ended
	January 3,		December 28,		December 30,
	2022		2020		2019
	(In thousands)
Cost of goods sold	$	4,714	$	3,889	$	3,148
Selling and marketing		2,540		1,919		1,887
General and administrative		9,718		10,083		11,568
Research and development		739		182		213
Stock-based compensation expense recognized	$	17,711	$	16,073	$	16,816

Summary of Unrecognized Compensation Costs

The following is a summary of total unrecognized compensation costs as of January 3, 2022:

	Unrecognized Stock-Based Compensation Cost		Remaining Weighted Average Recognition Period
	(In thousands)		(In years)
RSU awards	$	24,406		1.4
PRU awards		1,457		1.0
Stock options		46		0.6
	$	25,909