Preferred and Common Shares and Share-Based Compensation (Tables)

3 Months Ended

Mar. 29, 2024

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Share-Based Compensation Expense Recorded in the Consolidated Statements of Operations

The table below summarizes share-based compensation expense recorded in the consolidated statements of operations (in thousands):

	Three Months Ended
	March 29,		March 31,
	2024		2023
Selling, general and administrative	$	5,097	$	5,531
Research and development and engineering		559		443
Cost of revenue		421		492
Total share-based compensation expense	$	6,077	$	6,466

Schedule of Share Based Payment Award Performance Stock Awards Valuation Assumptions

The grant-date fair value per unit of the hybrid PSUs granted during the three months ended March 29, 2024 was estimated using the Monte Carlo valuation method with the following assumptions:

	Three Months Ended March 29, 2024
Grant-date stock price	$	157.48
Expected volatility		36.90	%
Risk-free interest rate		4.35	%
Expected annual dividend yield		—
Fair value	$	180.98

Schedule of Share Based Payment Award Stock Options Valuation Assumptions

The aggregate Black-Scholes fair value of $3.3 million for the stock options granted during the three months ended March 29, 2024 was estimated using the following assumptions as of the grant date:

	Three Months Ended March 29, 2024
Expected option term in years		4.5
Expected volatility		40.3	%
Risk-free interest rate		4.2	%
Expected annual dividend yield		—

Amended and Restated 2010 Incentive Plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Restricted Stock Units Issued and Outstanding

The table below summarizes activities relating to RSUs issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan during the three months ended March 29, 2024:

	Shares (In thousands)			Weighted Average Grant Date Fair Value
Unvested at December 31, 2023		206		$	143.97
Granted		90		$	158.46
Vested		(89	)	$	140.63
Forfeited		(2	)	$	154.72
Unvested at March 29, 2024		205		$	151.66
Expected to vest as of March 29, 2024		180

Performance-Based Awards Issued and Outstanding

The table below summarizes the activities relating to the performance-based awards issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan during the three months ended March 29, 2024:

	Shares (In thousands)			Weighted Average Grant- Date Fair Value
Unvested at December 31, 2023		205		$	160.24
Granted		80		$	177.06
Performance adjustments(1)		16		$	166.64
Vested		(45	)	$	168.60
Forfeited		(2	)	$	172.12
Unvested at March 29, 2024		254		$	165.11
Expected to vest as of March 29, 2024		243

(1) The amount shown represents performance adjustments related to the performance-based awards vested during the three months ended March 29, 2024.

Stock Options Issued and Outstanding

The table below summarizes the activities relating to stock options issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan during the three months ended March 29, 2024:

	Shares (In thousands)		Weighted Average Exercise Price
Outstanding as of December 31, 2023		132	$	102.86
Granted		53	$	157.48
Exercised		—	$	—
Forfeited or expired		—	$	—
Outstanding as of March 29, 2024		185	$	118.57
Exercisable as of March 29, 2024		87
Expected to vest as of March 29, 2024		98