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STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Oct. 01, 2022
STOCK-BASED COMPENSATION.  
Summary of stock-based compensation expense

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Fiscal Quarter Ended

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Three Fiscal Quarters Ended

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October 1, 2022

    

October 2, 2021

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October 1, 2022

    

October 2, 2021

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Cost of sales

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$

730

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$

1,914

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$

3,046

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$

6,837

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Selling, general and administrative

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6,331

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25,689

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37,369

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97,741

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$

7,061

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$

27,603

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$

40,415

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$

104,578

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Schedule of assumptions used 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:

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Three Fiscal Quarters Ended

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October 1, 2022

 

Risk-free interest rate

 

2.04

%

Expected volatility

 

39.67

%

Expected term (in years)

 

6.25

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Expected dividend yield

 

0.00

%

Schedule of restricted stock awards

The following table represents the Company’s restricted stock awards activity during the three fiscal quarters ended October 1, 2022:

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Weighted-

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Average Grant-

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Shares

    

Date Fair Value

Outstanding at January 1, 2022

 

5,803,124

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$

19.00

Granted

 

—

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—

Vested

 

(1,373,260)

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19.00

Forfeited

 

(480,385)

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19.00

Outstanding at October 1, 2022

 

3,949,479

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$

19.00

Schedule of restricted stock units

The following table represents the Company’s restricted stock units activity during the three fiscal quarters ended October 1, 2022:

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Weighted-

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Average Grant-

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Shares

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Date Fair Value

Outstanding at January 1, 2022

 

278,591

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$

19.08

Granted

 

210,012

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10.81

Vested

 

(182,383)

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19.00

Forfeited

 

(17,324)

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19.00

Outstanding at October 1, 2022

 

288,896

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$

13.12

Schedule of stock option activity

The following table represents the Company’s stock option activity during the three fiscal quarters ended October 1, 2022:

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Weighted-

    

Weighted-

    

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Average 

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Average 

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Exercise Price

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Remaining 

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Aggregate 

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Shares

    

 per Share

    

Contract Term

    

Intrinsic Value

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(in years)

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(in thousands)

Outstanding on January 1, 2022

 

822,886

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$

19.08

 

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Granted

 

1,500,149

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13.30

 

  

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Exercised

 

—

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—

 

  

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Expired

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(1,557)

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19.00

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Forfeited

 

(240,420)

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17.38

 

  

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Outstanding at October 1, 2022

 

2,081,058

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$

15.11

 

9.15

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$

—

Vested and expected to vest at October 1, 2022

 

2,081,058

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$

15.11

 

9.15

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$

—

Options exercisable at October 1, 2022

 

179,714

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19.00

 

8.26

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