v3.25.2
Common Stock and Stock-Based Compensation
3 Months Ended
Jun. 27, 2025
Share-Based Payment Arrangement [Abstract]  
Common Stock and Stock-Based Compensation

12. Common Stock and Stock-Based Compensation

Restricted Stock Units

The following table summarizes the Company’s RSU activity for the three-month period ended June 27, 2025:

 

 

Shares

 

 

Weighted-Average
Grant Date
Fair Value

 

Outstanding at March 28, 2025

 

 

2,330,344

 

 

$

28.88

 

Granted

 

 

1,786,046

 

 

 

26.91

 

Issued

 

 

(802,676

)

 

 

29.54

 

Forfeited

 

 

(33,577

)

 

 

28.48

 

Outstanding at June 27, 2025

 

 

3,280,137

 

 

$

27.65

 

 

As of June 27, 2025, total unrecognized compensation expense for awards issued was $80,557, which is expected to be recognized over a weighted-average period of 1.19 years. The total grant date fair value of RSUs vested was $23,708 for the three-month period ended June 27, 2025.

Performance Stock Units

The following table summarizes the Company’s PSU activity for the three-month period ended June 27, 2025:

 

 

Shares

 

 

Weighted-Average
Grant Date
Fair Value

 

Outstanding at March 28, 2025

 

 

2,145,781

 

 

$

24.86

 

Granted

 

 

538,098

 

 

 

28.89

 

Cancelled

 

 

(52,435

)

 

 

28.63

 

Issued

 

 

(178,585

)

 

 

29.34

 

Forfeited

 

 

(70,439

)

 

 

26.40

 

Outstanding at June 27, 2025

 

 

2,382,420

 

 

$

25.30

 

 

PSUs are included at 0% - 200% of target goals. The total compensation cost related to unvested awards not yet recorded at
June 27, 2025 was
$20,498, which is expected to be recognized over a weighted average period of 1.25 years. The total grant date fair value of PSUs vested was $5,240 for the three-month period ended June 27, 2025.

The Company recorded pre-tax stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations:

 

 

Three-Month Period Ended

 

 

June 27,
2025

 

 

June 28,
2024

 

Cost of goods sold

 

$

888

 

 

$

561

 

Research and development

 

 

2,911

 

 

 

3,735

 

Selling, general and administrative

 

 

6,963

 

 

 

5,822

 

Total pre-tax stock-based compensation expense

 

$

10,762

 

 

$

10,118