We issue RSUs, and, prior to January 2020 we issued RSAs, to participants in our equity plans. Performance-based RSUs granted in the three months ended March 30, 2024 included certain grants that vest based on our total shareholder return ranking relative to the Nasdaq US Benchmark Auto Parts Index over a three-year performance period (market condition), and other grants that vest based

upon achievement of return on invested capital targets over a three-year performance period (performance condition).

Compensation cost related to RSA and RSU grants was $2.5 million and $1.7 million for the three months ended March 30, 2024 and April 1, 2023, respectively, and was included in selling, general and administrative expenses in the Condensed Consolidated Statements of Operations.

The following table summarizes our RSA and RSU activity for the three months ended March 30, 2024:


	Shares	Weighted Average Fair Value
Balance at December 31, 2023	257,554	$	97.33
Granted	171,940	$	99.45
Vested	(44,435)	$	89.84
Canceled	(16,085)	$	128.96
Balance at March 30, 2024	368,974	$	97.83

For the three months ended March 30, 2024, we granted 32,109 performance-based RSUs containing a market condition with a grant date fair value of $138.58 per share. For the three months ended April 1, 2023, we granted 29,399 performance-based RSUs containing a market condition with a grant date fair value of $113.15 per share.

As of March 30, 2024, there was $27.4 million of unrecognized compensation cost related to unvested RSA and RSU grants that is expected to be recognized over a weighted average period of 2.4 years.

From time to time, we grant stock options to participants in our equity plans. Compensation cost related to stock option grants was $0.4 million for both the three months ended March 30, 2024 and April 1, 2023, and was included as selling, general and administrative expenses in the Condensed Consolidated Statements of Operations.

The following table summarizes our stock option activity for the three months ended March 30, 2024:


	Shares	Weighted Average Price		Weighted Average Remaining Term (years)	Aggregate Intrinsic Value (in thousands)
Balance at December 31, 2023	311,217	$	86.52


Exercised	(6,046)	$	62.75
Balance at March 30, 2024	305,171	$	86.99	5.2	$	3,193
Exercisable at March 30, 2024	195,683	$	82.99	4.6	$	2,844

As of March 30, 2024, there was $3.3 million of unrecognized compensation cost related to unvested stock options that is expected to be recognized over a weighted average period of 2.3 years.