STOCK-BASED COMPENSATION

3 Months Ended

Mar. 28, 2021

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

For the three months ended March 28, 2021 and March 29, 2020, we recognized total stock-based compensation expense of $2.0 million and $0.7 million, respectively. For the three months ended March 28, 2021 and March 29, 2020, the total income tax benefit recognized for stock-based compensation arrangements was $0.5 million and $0.2 million, respectively.

During the three months ended March 28, 2021, we granted 145,000 time-vesting restricted stock units at a grant date price of $19.73 per unit. Theses awards will vest equally on July 1, 2022, July 1, 2023 and July 1, 2024. We also granted

561,236 performance-based restricted stock units at a grant date price of $22.39 per unit. These awards will convert to time-vesting restricted stock units in the first quarter of 2022 if or when the Compensation Committee of the Company's Board of Directors certifies the achievement of 2021 performance targets. Once converted to time-vesting restricted stock units, the awards will vest equally on December 31, 2022, December 31, 2023, and December 31, 2024. We also granted 400,000 performance-based restricted stock units at a grant date price of $19.73 per unit. These awards will convert to time-vesting restricted stock units in the first quarter of 2024 if or when the Compensation Committee of the Company's Board of Directors certifies the achievement of performance targets over a three-year period of January 1, 2021 through December 31, 2023. Once converted to time-vesting restricted stock units, the awards will vest equally on July 1, 2024, July 1, 2025 and July 1, 2026.