Stock-Based Compensation

3 Months Ended

Mar. 29, 2015

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

STOCK-BASED COMPENSATION

Employee Share Purchase Plan

At our 2014 Annual Meeting of Shareholders, which was held on May 8, 2014, our shareholders approved an amendment to our Employee Share Purchase Plan to increase the number of shares of our common stock reserved for issuance under the plan from 3,950,000 to 4,200,000.

1995 Stock Incentive Plan

Also at our 2014 Annual Meeting of Shareholders, our shareholders approved an amendment to our 1995 Stock Incentive Plan (the “1995 Plan”) to increase the number of shares of our common stock reserved for issuance under the plan from 11,000,000 to 11,250,000.

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



	March 29, 2015
Shares available for grant	1,909,185
Shares of common stock reserved for issuance pursuant to outstanding exercisable securities	3,236,286

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



	March 29, 2015
	Options Outstanding		Options Exercisable
Number	779,158		299,095
Weighted average exercise price	$	62.38	$	45.79
Aggregate intrinsic value	$ 13.4 million		$ 9.4 million
Weighted average remaining contractual term	4.7 years		3.5 years

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



	March 29, 2015
	RSUs Nonvested		RSUs Expected to Vest
Number	547,945		488,536
Weighted average grant date per share fair value	$	70.86	$	70.25
Aggregate intrinsic value	$ 41.3 million		$ 36.9 million
Weighted average remaining term to vest	1.3 years		1.3 years

As of March 29, 2015, unrecognized stock-based compensation related to outstanding, but unvested stock options and RSUs was $36.9 million, which will be recognized over the weighted average remaining vesting period of 1.7 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 29, 2015		March 30, 2014
Cost of sales	$	792	$	726
Research and development	630		617
Selling, general and administrative	4,527		3,796
Total stock-based compensation	$	5,949	$	5,139

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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