Stock-Based Compensation

3 Months Ended

Mar. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-based compensation costs are based on the fair values on the date of grant for stock awards and stock options and on the date of enrollment for the employee stock purchase plans. The fair values of stock awards (such as restricted stock units (“RSUs”), performance stock units (“PSUs”) and restricted stock awards (“RSAs”)) are estimated based on their intrinsic values. The fair values of market stock awards (“MSUs”) are estimated using a Monte Carlo simulation. The fair values of stock options and employee stock purchase plans are estimated using the Black-Scholes option-pricing model.

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


	Three Months Ended
	March 30, 2024		April 1, 2023
Cost of revenues	$	412	$	298
Research and development	9,722		9,491
Selling, general and administrative	3,478		6,849
	13,612		16,638
Income tax provision	1,727		1,786
Total	$	11,885	$	14,852

The Company had approximately $80.3 million of total unrecognized compensation cost related to equity grants as of March 30, 2024 that is expected to be recognized over a weighted-average period of approximately 2.0 years.