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

Fiscal Quarter Ended

Three Fiscal Quarters Ended

    

October 1, 2022

    

October 2, 2021

October 1, 2022

    

October 2, 2021

Cost of sales

$

730

$

1,914

$

3,046

$

6,837

Selling, general and administrative

 

6,331

 

25,689

 

37,369

 

97,741

$

7,061

$

27,603

$

40,415

$

104,578

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:

Three Fiscal Quarters Ended

October 1, 2022

 

Risk-free interest rate

 

2.04

%

Expected volatility

 

39.67

%

Expected term (in years)

 

6.25

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:

Weighted-

Average Grant-

    

Shares

    

Date Fair Value

Outstanding at January 1, 2022

 

5,803,124

$

19.00

Granted

 

 

Vested

 

(1,373,260)

 

19.00

Forfeited

 

(480,385)

 

19.00

Outstanding at October 1, 2022

 

3,949,479

$

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:

    

    

Weighted-

Average Grant-

Shares

Date Fair Value

Outstanding at January 1, 2022

 

278,591

$

19.08

Granted

 

210,012

 

10.81

Vested

 

(182,383)

 

19.00

Forfeited

 

(17,324)

 

19.00

Outstanding at October 1, 2022

 

288,896

$

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:

    

Weighted-

    

Weighted-

    

Average 

Average 

Exercise Price

Remaining 

Aggregate 

    

Shares

    

 per Share

    

Contract Term

    

Intrinsic Value

 

 

(in years)

(in thousands)

Outstanding on January 1, 2022

 

822,886

$

19.08

 

Granted

 

1,500,149

13.30

 

  

 

  

Exercised

 

 

 

  

 

  

Expired

(1,557)

19.00

Forfeited

 

(240,420)

 

17.38

 

  

 

  

Outstanding at October 1, 2022

 

2,081,058

$

15.11

 

9.15

$

Vested and expected to vest at October 1, 2022

 

2,081,058

$

15.11

 

9.15

$

Options exercisable at October 1, 2022

 

179,714

 

19.00

 

8.26