XML 28 R18.htm IDEA: XBRL DOCUMENT v3.22.1
STOCKHOLDERS’ EQUITY
 3 Months Ended
Apr. 01, 2022
Equity [Abstract]  
STOCKHOLDERS’ EQUITY STOCKHOLDERS’ EQUITY
Share-based Compensation Plans
The following table sets forth the detailed allocation of the share-based compensation expense which was included in the Company’s Condensed Consolidated Statements of Operations:
 Three Months Ended
(in thousands)April 1, 2022April 2, 2021
Cost of revenue$527 $1,073 
Research and development expense2,536 2,540 
Selling, general and administrative expense4,523 4,785 
Total$7,586 $8,398 
Restricted Stock Units:
(in thousands, except per share amounts)Number
of
Shares		Weighted Average
Grant-Date Fair Value
Per Share
Balance at December 31, 20213,878 $7.31 
Granted1,548 9.19
Vested(1,744)7.22
Forfeited(38)8.11
Balance at April 1, 20223,644 $8.26 
As of April 1, 2022, an aggregate of 5,610,238 shares of common stock were reserved for issuance under the 1995 Stock Plan, of which 1,764,908 shares remained available for future grants. As of April 1, 2022, an aggregate of 713,431 shares of common stock were reserved for issuance under the 2002 Director Plan, of which 527,984 shares remained available for future grants.
Share Repurchase Program
On February 3, 2022, the Board of Directors authorized the Company to repurchase up to $100 million of the Company’s outstanding shares of common stock through February 2025. The Company is authorized to repurchase, from time-to-time, shares of its outstanding common stock through open market purchases and 10b5-1 trading plans, in accordance with applicable rules and regulations, at such time and such prices as management may decide. The program does not obligate the Company to repurchase any specific number of shares and may be discontinued at any time. The actual timing and amount of repurchases are subject to business and market conditions, corporate and regulatory requirements, stock price, acquisition opportunities and other factors.
During the three months ended April 1, 2022, the company repurchased and retired approximately 0.2 million shares of the Company’s common stock for an aggregate amount of $2.1 million. As of April 1, 2022, approximately $98 million of the share repurchase authorization remained available for repurchases under this program.