Stock-Based Compensation

3 Months Ended

Apr. 03, 2016

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

STOCK-BASED COMPENSATION

Employee Share Purchase Plan

At our 2015 Annual Meeting of Shareholders, which was held on May 7, 2015 our shareholders approved an amendment to our ESPP to increase the number of shares of our common stock reserved for issuance under the plan from 4,200,000 to 4,450,000.

1995 Stock Incentive Plan

Also at our 2015 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 11,250,000 to 11,500,000.

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



	April 3, 2016
Shares available for grant	1,635,526
Shares of common stock reserved for issuance pursuant to outstanding exercisable securities	3,109,300

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



	April 3, 2016
	Options Outstanding			Options Exercisable
Number	898,248			308,697
Weighted average exercise price	$	72.15		$	57.97
Aggregate intrinsic value	$	16.2	million	$	9.9	million
Weighted average remaining contractual term	5.0 years			3.5 years

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



	April 3, 2016
	RSUs Unvested			RSUs Expected to Vest
Number	575,526			503,550
Weighted average grant date per share fair value	$	78.99		$	78.89
Aggregate intrinsic value	$	51.9	million	$	45.4	million
Weighted average remaining term to vest	1.7 years			1.6 years

As of April 3, 2016, unrecognized stock-based compensation related to outstanding, but unvested stock options and RSUs was $41.0 million, which will be recognized over the weighted average remaining vesting period of 1.8 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
	April 3, 2016		March 29, 2015
Cost of sales	$	887	$	792
Research and development	779		630
Selling, general and administrative	4,173		4,527
Total stock-based compensation	$	5,839	$	5,949