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Stock-Based Compensation (Tables)

3 Months Ended

Apr. 03, 2021

Summary of Recognized Stock-based Compensation Expense

The following table summarizes stock-based compensation expense recognized:

	Fiscal quarters ended
	April 3, 2021		April 4, 2020

Restricted stock units	$	3,911	$	2,783
Phantom stock units		209		215
Total	$	4,120	$	2,998

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 April 3, 2021 (amortization periods in years):

	Unrecognized Compensation Cost		Weighted Average Remaining Amortization Periods

Restricted stock units	$	5,885		1.1
Phantom stock units		-		n/a
Total	$	5,885

RSU Activity

RSU activity under the 2007 Program as of April 3, 2021 and changes during the three 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, 2021		793		$	18.90
Granted		319			22.07
Vested*		(235	)		18.79
Cancelled or forfeited		-			-
Outstanding at April 3, 2021		877		$	20.08

Expected to vest at April 3, 2021		877

* 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

The number of performance-based RSUs that are scheduled to vest increases ratably based on the achievement of defined performance criteria between the established target and maximum levels. RSUs with performance-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, 2022		174		-		174
January 1, 2023		152		-		152
January 1, 2024		165		-		165

Phantom Stock Unit Activity Under the Phantom Stock Plan

Phantom stock unit activity under the phantom stock plan as of April 3, 2021 and changes during the three 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, 2021		198
Granted		10	$	20.89
Dividend equivalents issued		1
Outstanding at April 3, 2021		209