Stock-Based Compensation (Tables)

12 Months Ended

Dec. 30, 2023

Stock-Based Compensation

Schedule of stock-based compensation costs recognized in the Condensed Consolidated Statements of Income

The following table presents details of stock-based compensation costs recognized in the Consolidated Statements of Operations (in thousands):

	Year Ended
	December 30,		December 31,		January 1,
	2023		2022		2022
Cost of revenues	$	906	$	1,152	$	964
Research and development		35,491		32,860		24,986
Selling, general and administrative		11,812		26,498		30,892
		48,208		60,510		56,842
Income tax benefit		(6,230)		(5,980)		(954)
Share-based compensation – continuing operations		41,978		54,530		55,888
Share-based compensation – discontinued operations, net		—		—		(2,007)
Total	$	41,978	$	54,530	$	53,881

Summary of assumptions used to estimate fair values for ESPP

	Year Ended
	December 30,		December 31,		January 1,
Employee Stock Purchase Plan	2023		2022		2022
Expected volatility	40	%	44	%	42	%
Risk-free interest rate %	5.47	%	3.18	%	0.05	%
Expected term (in months)	9		9		9
Dividend yield	—		—		—

Summary of stock-based compensation activity, options

		Weighted-		Weighted-Average	Aggregate
		Average		Remaining	Intrinsic
	Shares	Exercise		Contractual Term	Value
Stock Options	(000s)	Price		(In Years)	(000s)
Outstanding at December 31, 2022	118	$	38.80	3.12	$	11,457
Exercised	24	$	37.88		$	2,162
Outstanding at December 30, 2023	94	$	39.03	2.12	$	8,790
Vested at December 30, 2023 and expected to vest	94	$	39.03	2.12	$	8,790
Exercisable at December 30, 2023	94	$	39.03	2.12	$	8,790

Summary of stock-based compensation activity, RSAs and RSUs

		Weighted-		Weighted-Average	Aggregate
		Average		Remaining	Intrinsic
	Shares	Grant Date		Vesting Term	Value
RSAs and RSUs	(000s)	Fair Value		(In Years)	(000s)
Outstanding at December 31, 2022	897	$	134.74
Granted	420	$	137.11
Vested or issued	(416)	$	127.51
Cancelled or forfeited	(77)	$	142.05
Outstanding at December 30, 2023	824	$	139.34	1.14	$	109,044
Outstanding at December 30, 2023 and expected to vest	759	$	139.36	1.14	$	100,329

Summary of stock-based compensation activity, PSUs and MSUs

		Weighted-		Weighted-Average	Aggregate
		Average		Remaining	Intrinsic
	Shares	Grant Date		Vesting Term	Value
PSUs and MSUs	(000s)	Fair Value		(In Years)	(000s)
Outstanding at December 31, 2022	225	$	134.93
Granted	86	$	188.45
Vested or issued	(33)	$	92.31
Cancelled or forfeited	(33)	$	95.47
Outstanding at December 30, 2023	245	$	164.62	1.22	$	32,438
Outstanding at December 30, 2023 and expected to vest	85	$	132.99	1.22	$	11,205

Summary of weighted average fair value at the date of grant

	Year Ended
	December 30,		December 31,		January 1,
	2023		2022		2022
Per grant of RSAs and RSUs	$	137.11	$	144.40	$	135.28
Per grant of PSUs and MSUs	$	188.45	$	160.97	$	145.11

Summary of stock-based payment and stock option values

The following summarizes the Company’s stock-based payment and stock option values (in thousands):

	Year Ended
	December 30,		December 31,		January 1,
	2023		2022		2022
Intrinsic value of stock options exercised	$	2,162	$	—	$	986
Intrinsic value of RSUs that vested	$	61,371	$	57,621	$	76,654
Grant date fair value of RSUs that vested	$	53,088	$	41,610	$	47,726
Intrinsic value of PSUs and MSUs that vested	$	5,163	$	—	$	5,231
Grant date fair value of PSUs and MSUs that vested	$	3,037	$	—	$	3,562

Summary of shares reserved of common stock for future issuance

As of December 30, 2023, the Company had reserved shares of common stock for future issuance as follows (in thousands):

2009 Plan	2,096
2009 ESPP	991
Total shares reserved	3,087