Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation (Tables)

v3.22.1
Stock-based Compensation (Tables)
 3 Months Ended
Apr. 03, 2022
Share-based Payment Arrangement [Abstract]  
Summary of total stock-based compensation expense, by operating expense category

The following table summarizes the total stock-based compensation expense, by operating expense category, recognized in the condensed consolidated statements of operations for the periods presented below (in thousands).

 

 

For the Quarters Ended

 

 

 

April 3, 2022

 

 

March 31, 2021

 

Cost of revenue

 

$

—

 

 

$

274

 

Research and development

 

 

2,512

 

 

 

959

 

Selling, general and administrative

 

 

2,726

 

 

 

185

 

Total stock-based compensation expense

 

$

5,238

 

 

$

1,418

 
Summary of Stock Option Activity

The following table summarized stock option activities for the quarter ended April 3, 2022 (in thousands, except share and per share amount).

 

 

Number of
Options
Outstanding

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Remaining
Contractual
Life (Years)

 

 

Aggregate
Intrinsic
Value(1)(2)

 

Balances as of January 3, 2022

 

 

5,753,005

 

 

$

8.88

 

 

 

 

 

 

 

Granted

 

 

31,190

 

 

 

15.47

 

 

 

 

 

 

 

Exercised

 

 

(91,910

)

 

 

2.17

 

 

 

 

 

$

1,249

 

Forfeited

 

 

(155,380

)

 

 

8.20

 

 

 

 

 

 

 

Balances as of April 3, 2022

 

 

5,536,905

 

 

$

9.05

 

 

 

9.0

 

 

$

32,364

 

Vested and expected to vest at April 3, 2022

 

 

9,839,447

 

 

$

5.12

 

 

 

8.8

 

 

$

95,515

 

Vested and exercisable at April 3, 2022

 

 

914,342

 

 

$

6.60

 

 

 

8.3

 

 

$

7,466

 

Unvested and exercisable at April 3, 2022

 

 

4,217,643

 

 

$

8.84

 

 

 

9.0

 

 

$

24,899

 

 

(1)

The intrinsic value of options exercised is based upon the value of the Company’s stock at exercise.

(2)

The aggregate intrinsic value of the stock options outstanding as of April 3, 2022 represents the value of the Company’s closing stock price at $14.74 on April 1, 2022 in excess of the exercise price multiplied by the number of options outstanding.
Summary of RSUs activities The following table summarized RSUs activities for the quarter ended April 3, 2022 (in thousands, except share and per share amount).

 

 

Number of
Shares
Outstanding

 

 

Weighted Average
Grant Date Fair Value

 

Non-vested RSUs Balances as of January 2, 2022

 

 

535,449

 

 

$

23.38

 

Granted

 

 

446,075

 

 

 

17.55

 

Vested

 

 

(33,761

)

 

 

20.84

 

Forfeited

 

 

(30,684

)

 

 

26.27

 

Non-vested RSUs outstanding as of April 3, 2022

 

 

917,079

 

 

$

20.54