Stock-Based Compensation

3 Months Ended

Mar. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

STOCK-BASED COMPENSATION

1995 Stock Incentive Plan

Our 1995 Stock Incentive Plan, as amended (the “1995 Plan”), allows for the issuance of a maximum of 11,000,000 shares of our common stock.

The following table sets forth certain information regarding the 1995 Plan:

	March 30, 2014
Shares available for grant	2,001,765
Shares of common stock reserved for issuance	3,364,680

The following table sets forth certain information regarding all options outstanding and exercisable:

	March 30, 2014
	Options Outstanding		Options Exercisable
Number	649,059		151,082
Weighted average exercise price	$	52.82	$	33.96
Aggregate intrinsic value	$ 32.5 million		$ 10.4 million
Weighted average remaining contractual term	5.1 years		3.8 years

The following table sets forth certain information regarding all RSUs nonvested and expected to vest:

	March 30, 2014
	RSUs Nonvested		RSUs Expected to Vest
Number	713,858		627,724
Weighted average grant date per share fair value	$	58.39	$	57.53
Aggregate intrinsic value	$ 73.4 million		$ 64.6 million
Weighted average remaining term to vest	1.5 years		1.5 years

As of March 30, 2014, unrecognized stock-based compensation related to outstanding, but unvested stock options and RSUs was $43.5 million, which will be recognized over the weighted average remaining vesting period of 1.9 years.

Stock-Based Compensation Expense

Our stock-based compensation expense was included in our Consolidated Statements of Operations as follows (in thousands):

	Thirteen Weeks Ended
	March 30, 2014		March 31, 2013
Cost of sales	$	726	$	595
Research and development	617		531
Selling, general and administrative	3,796		3,238
Total stock-based compensation	$	5,139	$	4,364