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Stockholders’ Equity and Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Schedule of Restricted Stock Unit Activity
Restricted stock unit (“RSU”) activity under our equity incentive plan was as follows:
UnitsWeighted Average Grant Date Fair Value
RSUs at December 31, 20222,227,081 $35.28 
Awards granted1,402,715 33.84 
Awards vested(830,549)33.56 
Awards forfeited(336,753)30.14 
RSUs at September 30, 20232,462,494 35.74 
Schedule of ESPP Activity
Information related to activity under our Employee Stock Purchase Plan (“ESPP”) was as follows:
 Nine Months Ended
 September 30, 2023
Shares issued363,190 
Weighted average per share purchase price$24.29 
Weighted average per share discount from the fair value of our common stock on the date of issuance$7.65 
Schedule of Stock-based Compensation
Stock-based compensation was included in our Condensed Consolidated Statements of Income as follows (in thousands):
Three Months EndedNine Months Ended
September 30,
2023
September 24,
2022
September 30,
2023
September 24,
2022
Cost of revenues$1,376 $1,022 $4,801 $2,834 
Research and development3,173 2,027 7,908 5,708 
Selling, general and administrative6,290 4,946 16,624 13,331 
Total stock-based compensation$10,839 $7,995 $29,333 $21,873 
Schedule of Unrecognized Stock-based Compensation
At September 30, 2023, the unrecognized stock-based compensation was as follows (dollars in thousands): 
Unrecognized ExpenseAverage Expected
Recognition Period
in Years
Restricted stock units$58,985 2.21
Performance restricted stock units14,667 2.20
Employee stock purchase plan1,498 0.25
Total unrecognized stock-based compensation expense$75,150 2.17