Share-Based Compensation

3 Months Ended

Mar. 30, 2024

Share-Based Payment Arrangement [Abstract]

NOTE 9. Share-Based Compensation

Restricted Stock Unit Activity

A summary of the Company’s restricted stock unit activity with respect to the three months ended March 30, 2024 is as follows:


	Number of Shares			Weighted Average Grant Date Fair Value
Nonvested at December 30, 2023		584		$	85.41
Granted		84		$	172.03
Vested		(129	)	$	79.37
Forfeited		(3	)	$	81.42
Nonvested at March 30, 2024		536		$	100.50

Of the 536 nonvested shares outstanding at March 30, 2024, 454 are service-based RSUs and 82 are market-based PRSUs. The fair value of the Company’s service-based RSUs was calculated based on the fair market value of the Company’s stock at the date of grant. The fair value of the Company’s market-based PRSUs granted during fiscal years 2024 and 2023 was calculated

using a Monte Carlo simulation model at the date of the grant, resulting in a weighted average grant-date fair value per share of $251.51 and $100.79, respectively.

As of March 30, 2024 and December 30 2023, there was $32,081 and $26,559 of total unrecognized compensation cost related to restricted stock units granted under the Company’s stock plans, respectively. That cost is expected to be recognized over a weighted average period of 1.5 years and 1.4 years for March 30, 2024 and December 30, 2023, respectively.