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STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jul. 03, 2021
STOCK-BASED COMPENSATION  
Summary of significant assumptions used in the Black-Scholes option-pricing model on a weighted-average basis to determine the fair value of option awards granted

The following table sets forth the significant assumptions used in the Black-Scholes option-pricing model on a weighted-average basis to determine the fair value of option awards granted:

    

Two Fiscal Quarters 

 

Ended July 3, 2021

 

Risk-free interest rate

 

0.63

%

Expected volatility

 

38.16

%

Expected term (in years)

 

6.25

Expected dividend yield

 

0.00

%

Summary of restricted stock awards activity

The following table represents the Company’s restricted stock awards activity during the two fiscal quarters ended July 3, 2021:

Weighted-Average 

Grant-Date Fair 

    

Shares

    

Value

Outstanding at January 1, 2021

 

$

Granted

 

8,340,126

 

19.00

Vested

 

(84,687)

 

19.00

Forfeited

 

 

Outstanding at July 3, 2021

 

8,255,439

$

19.00

Summary of restricted stock units activity

The following table represents the Company’s restricted stock units activity during the two fiscal quarters ended July 3, 2021:

    

    

Weighted-Average 

Grant-Date Fair 

Shares

Value

Outstanding at January 1, 2021

 

$

Granted

 

341,301

 

19.00

Vested

 

 

Forfeited

 

(809)

 

19.00

Outstanding at July 3, 2021

 

340,492

$

19.00

Summary of stock option activity

The following table represents the Company’s stock option activity during the two fiscal quarters ended July 3, 2021:

    

    

Weighted-

    

Weighted-

Average 

Average Exercise 

Remaining 

Aggregate 

    

Shares

    

Price per Share

    

Contract Term

    

Intrinsic Value

 

 

(in years)

(in thousands)

Outstanding on January 1, 2021

 

$

 

$

Granted

 

886,862

 

19.00

 

  

 

  

Exercised

 

 

  

 

  

 

  

Forfeited

 

 

  

 

  

 

  

Outstanding at July 3, 2021

 

886,862

$

19.00

 

9.80

$

10,802

Vested and expected to vest at July 3, 2021

 

886,862

$

19.00

 

9.80

$

10,802

Options exercisable at July 3, 2021