EQUITY (Tables)

9 Months Ended

Oct. 01, 2022

EQUITY

Schedule of outstanding and exercisable options

	Outstanding			Exercisable
		Weighted average
	Number of	remaining	Weighted average	Number of	Weighted average
Exercise price	options	contractual life	exercise price	options	exercise price
(U.S. dollars)	In thousands	In years	U.S. dollars	In thousands	U.S. dollars
$ 4.01 - 21.59	69	3	7.8	32	6.5
$ 22.41 - 26.89	2,143	0.9	26.8	2,140	26.8
$55.17	68	6.5	55.2	45	55.2
Total	2,280	1.1	27.1	2,217	27.1

Schedule of option activity

The option activity for the nine months ended October 1, 2022 for options granted to the Company’s employees for Intel’s common stock was as follows:

				Weighted
				average
		Weighted		remaining
		average		contractual	Aggregated
	Number	exercise price		Life	intrinsic value(1)
	In thousands	U.S. dollars		In Years	U.S. dollars in millions
Options outstanding at December 25, 2021	3,578	$	29.2	1.5	$	79
Granted	—		—
Exercised	(1,298)	$	32.9
Forfeited	—		—
Options outstanding at October 1, 2022	2,280	$	27.1	1.1	$	1
Options exercisable as of October 1, 2022	2,217	$	27.1	1	$	1

The option activity for the three months ended October 1, 2022 for options granted to the Company’s employees for Intel’s common stock was as follows:

				Weighted
				average
		Weighted		remaining
		average		contractual	Aggregated
	Number	exercise price		Life	intrinsic value(1)
	In thousands	U.S. dollars		In Years	U.S. dollars in millions
Options outstanding at July 2, 2022	2,290	$	27.1	1.4	$	21
Granted	—	$	—
Exercised	(10)	$	24.1
Forfeited	—	$	—
Options outstanding at October 1, 2022	2,280	$	27.1	1.1	$	1
Options exercisable at October 1, 2022	2,217	$	27.1	1	$	1

(1)The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the closing stock price of the Intel’s ordinary share. On October 1, 2022 and December 25, 2021, Intel’s ordinary share prices were $25.77, and $51.31, respectively. This represents the potential pre-tax amount receivable by the option holders had all option holders exercised their options as of such date.

(2)The remaining options expected to vest as of October 1, 2022 are 63 thousand options with an average weighted exercise price of $26.49.

Schedule of RSU activity

The RSU activity for the nine months ended October 1, 2022 for RSUs granted to Company’s employees for Intel’s common stock was as follows:

		Weighted average
	Number	grant fair value
	In thousands	U.S. dollars
Outstanding at December 25, 2021	5,278	46.49
Granted	3,752	43.65
Vested	(620)	49.58
Forfeited	(350)	48.53
Outstanding at October 1, 2022	8,060	44.84

The RSU activity for the three months ended October 1, 2022 for RSUs granted to Company’s employees for Intel’s common stock was as follows:

		Weighted average
	Number	grant fair value
	In thousands	U.S. dollars
Outstanding at July 2, 2022	7,967	45.34
Granted	294	33.33
Vested	(127)	49.22
Forfeited	(74)	45.02
Outstanding at October 1, 2022	8,060	44.84

Schedule of share-based compensation expenses

	Three Months Ended				Nine Months Ended
	October 1, 2022		September 25, 2021		October 1, 2022		September 25, 2021
	U.S. dollars in millions
Cost of revenue	$	—	$	—	$	—	$	—
Research and development, net		32		20		101		57
Sales and marketing		1		1		3		3
General and administrative		3		3		8		13
Total share-based compensation	$	36	$	24	$	112	$	73

Schedule of calculation of basic net income (loss) per share

	Three Months Ended				Nine Months Ended
	October 1		September 25,		October 1		September 25,
	2022		2021		2022		2021
	in millions, except per share amounts
Numerator:
Net income (loss)		(45)		(26)		(112)		(22)
Denominator:
Weighted average common shares - basic and diluted		750		750		750		750
Net income (loss) per share:
Basic and diluted	$	(0.06)	$	(0.03)	$	(0.15)	$	(0.03)