Share-Based Compensation

9 Months Ended

Sep. 28, 2024

Share-Based Payment Arrangement [Abstract]

NOTE 9. Share-Based Compensation

Restricted Stock Unit Activity

A summary of the Company’s restricted stock unit activity with respect to the nine months ended September 28, 2024 is as follows:


	Number of Shares			Weighted Average Grant Date Fair Value
Nonvested at December 30, 2023		584		$	85.41
Granted		163		$	192.34
Vested		(320	)	$	81.12
Forfeited		(13	)	$	98.60
Nonvested at September 28, 2024		414		$	130.34

Of the 414 nonvested shares outstanding at September 28, 2024, 332 are service-based RSUs and 82 are market-based PRSUs. The fair value of the Company’s service-based RSUs was calculated based on the fair market value of the Company’s stock at the date of grant. The fair value of the Company’s market-based PRSUs granted during fiscal years 2024 and 2023 was calculated using a Monte Carlo simulation model at the date of the grant, resulting in a weighted average grant-date fair value per share of $251.51 and $100.79, respectively.

As of September 28, 2024 and December 30, 2023, there was $34,231 and $26,559 of total unrecognized compensation cost related to restricted stock units granted under the Company’s stock plans, respectively. That cost is expected to be recognized over a weighted average period of 1.4 years following both September 28, 2024 and December 30, 2023, respectively.