Stockholders' Equity

6 Months Ended

Jul. 03, 2020

Share-based Payment Arrangement [Abstract]

Secondary Stock Offerings

In June 2020, the Company closed a secondary offering whereby it sold 2,760 shares of its common stock at a price of $76.00 per share for gross proceeds of $209,760. The net proceeds to the Company after underwriters' discounts and commissions of $11,015 and $511 of offering costs was $198,234. The total shares sold included 360 shares that were sold in connection with the underwriters' option to purchase additional shares. This offering was made pursuant to the Company's registration statement on Form S-3.

Equity Incentive Plans

The following table summarizes the allocation of stock-based compensation in the accompanying consolidated statements of income:


	For the three months ended						For the six months ended
	July 3, 2020		June 28, 2019		July 3, 2020		June 28, 2019
Cost of sales	$	147	$	114	$	276	243
Sales and marketing	165		113		317		239
Research and development	218		155		419		320
General and administrative	1,546		1,239		2,985		2,548
Total	$	2,076	$	1,621	$	3,997	3,350

The following table summarizes the activity for the Company's unvested restricted stock units ("RSU") for the six months ended July 3, 2020:


	Unvested RSUs
	Number of shares outstanding	Weighted-average grant date fair value
Unvested at January 3, 2020	427	$	44.98
Granted	245	$	44.65
Canceled	(8)	$	47.75
Vested	(190)	$	36.37
Unvested at July 3, 2020	474	$	48.20

As of July 3, 2020, the Company had approximately $20,523 of unrecognized stock-based compensation expense related to RSUs, which will be recognized over the remaining weighted-average vesting period of approximately 2.89 years.

During the six months ended July 3, 2020, no shares of common stock were issued due to the exercise of stock options and no options to purchase common stock expired or were forfeited. As of July 3, 2020, stock-based compensation expense related to stock options has been fully recognized.