Stock-Based Compensation

6 Months Ended

Jun. 28, 2025

Note 10 – Stock-Based Compensation

The following table summarizes stock-based compensation expense recognized:

	Fiscal quarters ended						Six fiscal months ended
	June 28, 2025			June 29, 2024			June 28, 2025			June 29, 2024

Restricted stock units ("RSUs")		$	5,685		$	3,949		$	11,653		9,175
Phantom stock units			-			-			83		118
Total		$	5,685		$	3,949		$	11,736		9,293

The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at June 28, 2025 (amortization periods in years):

	Unrecognized Compensation Cost			Weighted Average Remaining Amortization Periods

Restricted stock units		$	38,506		2.1
Phantom stock units			-		n/a
Total		$	38,506

Restricted Stock Units

RSU activity under the Company's stock incentive programs as of June 28, 2025 and changes during the six fiscal months then ended are presented below (number of RSUs in thousands):

	Number of RSUs			Weighted Average Grant-date Fair Value per Unit
Outstanding:
January 1, 2025		2,628		$	21.37
Granted*		1,844			15.19
Vested**		(764	)		21.75
Cancelled or forfeited		(168	)		20.59
Outstanding at June 28, 2025		3,540		$	18.11

Expected to vest at June 28, 2025		2,839

* Employees in certain countries are granted equity-linked awards that will be settled in cash and are accounted for as liability awards. The liability awards are not material. The number of RSUs granted excludes these awards.

** The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements.

The number of performance-based RSUs that are scheduled to vest increases ratably based on the achievement of defined performance and market criteria between the established target and maximum levels. RSUs with performance-based and market-based vesting criteria are expected to vest as follows (number of RSUs in thousands):

Vesting Date	Expected to Vest		Not Expected to Vest		Total
January 1, 2026		-		137		137
January 1, 2027		-		540		540
January 1, 2028		836		24		860
March 1, 2029		175		-		175

Phantom Stock Units

Phantom stock unit activity as of June 28, 2025 and changes during the six fiscal months then ended are presented below (number of phantom stock units in thousands):

	Number of units		Grant-date Fair Value per Unit
Outstanding:
January 1, 2025		128
Granted		5		$	16.69
Dividend equivalents issued		2
Outstanding at June 28, 2025		135