Restricted Stock Awards (“RSAs”) and Restricted Stock Units (“RSUs”)

We issue RSAs and RSUs to participants in our equity plans in the form of time-based RSAs and RSUs and performance-based RSAs and RSUs.

Compensation cost related to RSA and RSU grants was $1.7 million and $1.6 million for the three months ended April 1, 2023 and March 26, 2022, 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 April 1, 2023:


	Shares	Weighted Average Fair Value
Balance at December 31, 2022	238,922	$	92.07
Granted	93,944	$	98.02
Vested	(59,382)	$	77.02
Canceled	(8,392)	$	81.56
Balance at April 1, 2023	265,092	$	97.88

For the three months ended April 1, 2023, we granted 29,399 performance-based RSUs with a grant date fair value of $113.15 per share. For the three months ended March 26, 2022, we granted 23,995 performance-based RSUs with a grant date fair value of $111.31 per share.

As of April 1, 2023, there was $20.2 million of unrecognized compensation cost related to unvested RSA and RSU grants that is expected to be recognized over a weighted average period of 2.6 years.

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 April 1, 2023 and March 26, 2022, 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 April 1, 2023:


	Shares	Weighted Average Price		Weighted Average Remaining Term (years)	Aggregate Intrinsic Value (in thousands)
Balance at December 31, 2022	268,119	$	84.03
Granted	76,784	$	91.28
Canceled	(1,113)	$	96.36
Exercised	(21,702)	$	72.85
Balance at April 1, 2023	322,088	$	86.47	6.1	$	1,935
Exercisable at April 1, 2023	133,913	$	80.31	5.0	$	1,398

As of April 1, 2023, there was $5.7 million of unrecognized compensation cost related to unvested stock options that is expected to be recognized over a weighted average period of 3.2 years.