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Stock-Based Compensation Expense (Tables)

6 Months Ended

Jun. 28, 2020

Share-based Payment Arrangement [Abstract]

The following table summarizes the Company’s stock option activity for the six-month period ended June 28, 2020:


	Shares (in thousands)	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2019	12,899	$	37.95
Granted	975	51.58
Exercised	(1,822)	26.47
Forfeited or expired	(421)	50.28
Outstanding as of June 28, 2020	11,631	$	40.45	6.98	$	212,847
Exercisable as of June 28, 2020	5,331	$	31.59	5.81	$	144,694
Options vested or expected to vest as of June 28, 2020 (1)	10,683	$	39.58	6.85	$	204,795

(1) In addition to the vested options, the Company expects a portion of the unvested options to vest at some point in the future. Options expected to vest are calculated by applying an estimated forfeiture rate to the unvested options.

Weighted-Average Assumptions Used in Estimating Fair Values of Stock Options Granted

The fair values of stock options granted in each period presented were estimated using the following weighted-average assumptions:


	Three-months Ended						Six-months Ended
	June 28, 2020		June 30, 2019		June 28, 2020		June 30, 2019
Risk-free rate	1.6	%	2.7	%	1.6		2.7	%
Expected dividend yield	0.43	%	0.39	%	0.43	%	0.39	%
Expected volatility	37	%	37	%	37	%	37	%
Expected term (in years)	6.0		5.2		6.0		5.3

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table presents the stock-based compensation expense by caption for each period presented on the Consolidated Statements of Operations (in thousands):


	Three-months Ended						Six-months Ended
	June 28, 2020		June 30, 2019		June 28, 2020		June 30, 2019
Cost of revenue	$	363	$	329	$	717	$	780
Research, development, and engineering	2,401		3,550		7,767		8,017
Selling, general, and administrative	5,254		7,088		14,324		14,451
	$	8,018	$	10,967	$	22,808	$	23,248

Schedule of Nonvested Restricted Stock Units Activity

The following table summarizes the Company's RSUs activity for the six-month period ended June 28, 2020:


	Shares (in thousands)	Weighted-Average Grant Date Fair Value
Nonvested as of December 31, 2019	150	$	48.63
Granted	432	51.53
Vested	—	—
Forfeited or expired	(21)	50.54
Nonvested as of June 28, 2020	561	$	50.79