STOCK-BASED COMPENSATION

9 Months Ended

Sep. 27, 2025

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

We award stock-based compensation to employees and directors under our 2024 Equity and Incentive Compensation Plan (“2024 Plan”). The 2024 Plan was approved by the Company’s stockholders in May 2024 and replaced the 2018 Equity and Incentive Compensation Plan (the “2018 Plan”). No new awards have been or will be granted under the 2018 Plan since the 2024 Plan was approved. The 2018 Plan replaced the 2012 Equity and Performance Incentive Plan, as amended and restated on June 20, 2018 (the “2012 Plan”). No awards remain outstanding under the 2012 Plan. Awards outstanding under the 2018 Plan will continue to remain outstanding according to their terms. Shares subject to stock awards granted under the 2018 Plan (a) that expire or terminate without being exercised or (b) that are forfeited under an award, return to the 2024 Plan.

We recognized non-cash stock-based compensation expense of $11.1 million and $8.7 million for the three months ended September 27, 2025 and September 28, 2024, respectively. For the nine months ended September 27, 2025 and September 28, 2024, we recognized non-cash stock-based compensation expense of $32.4 million and $26.0 million, respectively. At September 27, 2025, total unrecognized stock-based compensation expense of $61.7 million for all stock-based compensation plans is expected to be recognized over a weighted-average period of 2.2 years.

Stock-based activity for the nine months ended September 27, 2025 is summarized below (in thousands, except per share data):

	Stock Options			Performance-Based Restricted Stock Awards and Units			Restricted Stock Units, Restricted Stock Awards, and Deferred Stock Units
	Number of Options	Weighted Average Exercise Price		Number of PBRSs and PRSUs	Weighted Average Grant Date Fair Value		Number of RSUs, RSAs, and DSUs	Weighted Average Grant Date Fair Value
Balance, December 28, 2024	559	$	19.72	507	$	42.92	1,444	$	39.54
Granted	—	—		231	40.99		1,054	36.46
Exercised/released	—	—		(86)	64.48		(668)	40.13
Performance adjustment(1)	—	—		18	64.48		—	—
Forfeited/expired	—	—		—	—		(151)	38.71
Balance, September 27, 2025	559	$	19.72	670	$	40.06	1,679	$	37.44

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(1)Represents additional performance-based awards issued as a result of the achievement of actual performance results above the performance targets at grant date.