Restructuring Charges

9 Months Ended

Sep. 24, 2016

Restructuring and Related Activities [Abstract]

Restructuring charges are comprised of costs related to employee termination benefits.

During the three months ended September 24, 2016, we recorded approximately $0.1 million of severance charges as a result of the consolidation of our operations. During the nine months ended September 24, 2016, we recorded approximately $0.6 million of severance charges and $0.3 million of stock-based compensation expense relating to the modification of certain equity-based awards as a result of the consolidation of our operations. In addition, in the same period, we also recorded approximately $5.4 million of severance charges and $0.7 million of stock-based compensation expense relating to the acceleration of certain equity-based awards of certain executives of Cascade Microtech who were terminated upon our acquisition of Cascade Microtech and in accordance with their contractual change of control agreements. The cash payments associated with the restructuring activities are expected to be completed by the end of the second quarter of fiscal 2017.

Restructuring charges recorded during the three months ended September 26, 2015 were insignificant. During the nine months ended September 26, 2015, we recorded stock-based compensation expense of approximately $0.5 million relating to the modification of an equity-based award.

The activities in the restructuring accrual for the nine months ended September 24, 2016 were as follows (in thousands):



	Employee Severance and Benefits			Stock-based Compensation			Total
Accrual at December 26, 2015	$	2		$	—		$	2
Restructuring charges	6,029			964			6,993
Cash payments	(5,550		)	—			(5,550		)
Non-cash settlement	—			(964		)	(964		)
Accrual at September 24, 2016	$	481		$	—		$	481

The activities in the restructuring accrual for the nine months ended September 26, 2015 were as follows (in thousands):



	Employee Severance and Benefits			Stock-based Compensation			Total
Accrual at December 27, 2014	$	584		$	—		$	584
Restructuring charges	59			500			559
Cash payments	(618		)	—			(618		)
Adjustment to restructuring charges	3			—			3
Non-cash settlement	—			(500		)	(500		)
Accrual at September 26, 2015	$	28		$	—		$	28