We grant restricted stock units (“RSUs”) under the 2018 Equity Incentive Plan (the “2018 Plan”) to all employees and performance-based restricted stock units (“PSUs”) to our executive officers and other senior employees periodically with vesting periods generally between three to five years. On January 23, 2026, we registered an aggregate of up to 4,200,189 shares of common stock under the 2018 Plan on a Registration Statement on Form S-8 pursuant to an “evergreen” provision contained in the 2018 Plan.


			Number of Shares
			(In thousands)
Shares available for grants as of December 31, 2025			4,409
Additional authorized shares			4,200
Granted			(6,822)
Forfeited / expired / cancelled			444

Shares available for grants as of September 27, 2026			2,231

We sponsor the employee stock purchase plan (“ESPP”) for eligible employees, under which employees purchased 187 thousand shares and 155 thousand shares during the nine months ended September 27, 2026 and September 28, 2025, respectively. As of September 27, 2026, 3.0 million shares were available for issuance under the ESPP.

We did not grant options during the nine months ended September 27, 2026. Stock option activity during the nine months ended September 27, 2026 was as follows:


	Number of Shares	Weighted Average Exercise Price Per Share
	(In thousands)	(In dollars)
Outstanding as of December 31, 2025	275	$	14.10
Granted	—	$	—
Exercised	—	$	—
Expired / cancelled	—	$	—
Outstanding as of September 27, 2026	275	$	14.10
Vested and exercisable as of September 27, 2026	275	$	14.10


	Number of Shares	Weighted Average Grant Date Fair Value Per Share
	(In thousands)	(In dollars)
Outstanding as of December 31, 2025	6,481	$	9.99
Granted	3,843	$	14.06
Vested	(3,681)	$	11.26
Forfeited / cancelled	(441)	$	12.32
Outstanding as of September 27, 2026	6,202	$	11.59

Our executive officers and other senior employees have been granted PSUs with vesting occurring when performance conditions are met. The number of units earned and eligible to vest are determined based on the achievement of various performance conditions, including gross profit, annual recurring revenue, cumulative paid accounts, subscriptions and services gross margin, and the recipients’ continued services. At the end of each reporting period, we evaluate the probability of achieving the performance conditions and record the related stock-based compensation expense based on the estimated achievement over the service period.


	Number of Shares	Weighted Average Grant Date Fair Value Per Share
	(In thousands)	(In dollars)
Outstanding as of December 31, 2025	2,970	$	10.56
Granted	2,979	$	12.03
Vested	(1,934)	$	10.29
Forfeited / cancelled	(3)	$	8.28
Outstanding as of September 27, 2026	4,012	$	11.79

The following table sets forth the stock-based compensation expense by line item on the unaudited condensed consolidated statements of operations and comprehensive income:


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Cost of revenue	$	1,213	$	613	$	3,723	$	2,615
Research and development	6,573		3,752		20,473		12,152
Sales and marketing	2,625		1,837		8,696		6,989
General and administrative	11,321		6,936		30,284		23,377
Stock-based compensation, net of amounts capitalized	$	21,732	$	13,138	$	63,176	$	45,133
Capitalized stock-based compensation	808		533		1,585		1,402
Total stock-based compensation	$	22,540	$	13,671	$	64,761	$	46,535