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Share-Based Compensation - (Tables)
6 Months Ended
Jun. 28, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Restricted Stock Unit Activity

The Company granted the following restricted stock units (“RSUs” and each, an “RSU”) and market-based performance restricted stock units (“PSUs” and each, a “PSU”) during the six months ended June 28, 2025:

Awards Granted To:

 

Type of Award

 

Number of Shares
(in thousands)

 

 

Weighted Average
Grant Date Fair Value
Per Share

 

Directors

 

RSU (1)

 

 

13

 

 

$

94.62

 

Various executives and employees

 

RSU (2)

 

 

249

 

 

$

101.25

 

Various executives

 

PSU (3)

 

 

49

 

 

$

140.94

 

 

 

 

 

 

 

 

 

 

(1) These awards cliff vest one year from the grant date on May 21, 2026

 

 

 

(2) These awards generally vest ratably over three years, one third per year beginning on the first anniversary of the grant date. These RSUs will fully vest on various dates between December 2027 and June 2028.

 

 

 

(3) These awards include PSUs with market performance conditions that will be evaluated relative to the performance of certain peers as defined in the award agreement. The number of units that ultimately vest on March 3, 2027 and March 3, 2028 will be from 0% and 200%, depending on achievement of these performance criteria. Total grant date value of these PRSUs is approximately $6.9 million and was valued using the Monte Carlo method.

 

Share-Based Payment Arrangement, Cost by Plan [Table Text Block]

The following table presents the detail of share-based compensation expense amounts included in the Company’s Condensed Consolidated Statement of Operations:

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 28,

 

 

June 29,

 

 

June 28,

 

 

June 29,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(in thousands)

 

Cost of revenue

 

$

895

 

 

$

1,408

 

 

$

2,002

 

 

$

2,545

 

Research and development

 

 

1,292

 

 

 

1,976

 

 

 

2,354

 

 

 

3,262

 

Sales and marketing

 

 

651

 

 

 

1,569

 

 

 

1,990

 

 

 

2,786

 

General and administrative

 

 

3,362

 

 

 

3,291

 

 

 

6,668

 

 

 

6,137

 

Restructuring and other

 

 

478

 

 

 

 

 

 

478

 

 

 

 

Total share-based compensation expense

 

$

6,678

 

 

$

8,244

 

 

$

13,492

 

 

$

14,730