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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 30, 2024
Stock-Based Compensation [Abstract]  
Summary of Recognized Stock-based Compensation Expense
The following table summarizes stock-based compensation expense recognized:

   
Fiscal quarters ended
 
   
March 30, 2024
   
April 1, 2023
 
             
Restricted stock units ("RSUs")
 
$
5,226
   
$
2,858
 
Phantom stock units
   
118
     
107
 
Total
 
$
5,344
   
$
2,965
 
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 March 30, 2024 (amortization periods in years):

 
Unrecognized
Compensation
Cost
   
Weighted
Average
Remaining
Amortization
Periods
 
             
Restricted stock units
 
$
19,166
     
1.9
 
Phantom stock units
   
-
     
n/a
 
Total
 
$
19,166
         
RSU Activity
RSU activity as of March 30, 2024 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, 2024
   
1,717
   
$
23.03
 
Granted
   
544
     
18.09
 
Vested*
   
(559
)
   
23.07
 
Cancelled or forfeited
   
(26
)
   
23.96
 
Outstanding at March 30, 2024
   
1,676
   
$
21.40
 
                 
Expected to vest at March 30, 2024
   
1,415
         
* 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, 2025
   
168
     
-
     
168
 
January 1, 2026
   
-
     
167
     
167
 
January 1, 2027
   
140
     
94
     
234
 
Phantom Stock Unit Activity Under the Phantom Stock Plan
The following table summarizes the Company's phantom stock units activity (number of phantom stock units in thousands):

 
Number of
units
 
Grant-date
Fair Value per
Unit
 
Outstanding:
         
January 1, 2024
   
120
     
Granted
   
5
   
$
23.51
 
Dividend equivalents issued
   
1
         
Outstanding at March 30, 2024
   
126