v3.25.2
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 28, 2025
Stock-Based Compensation [Abstract]  
Summary of Recognized Stock-based Compensation Expense
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
 
Summary of Unrecognized Compensation Cost and Weighted Average Remaining Amortization Periods
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
         
RSU Activity
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.
RSUs with Performance-Based Vesting Criteria 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 Unit Activity Under the Phantom Stock Plan
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