Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation (Tables)

v3.22.2.2
Stock-based Compensation (Tables)
 6 Months Ended
Jul. 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).
Quarters Ended Fiscal Years-to-Date Ended
July 3, 2022 June 30, 2021 July 3, 2022 June 30, 2021
Cost of revenue $ 250  $ —  $ 250  $ 274 
Research and development 3,821  1,948  6,333  2,907 
Selling, general and administrative 4,109  309  6,835  494 
Total stock-based compensation expense $ 8,180  $ 2,257  $ 13,418  $ 3,675 
Summary of Stock Option Activity
The following table summarized stock option activities for the fiscal year-to-date ended July 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, 2021 5,753,005 $ 8.88 
Granted 46,190 13.82 
Exercised (138,717) 2.00  $ 1,765 
Forfeited (300,820) 8.71 
Balances as of July 3, 2022 5,359,658 $ 9.11  8.7 $ 3,952 
(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 July 3, 2022 represents the value of the Company’s closing stock price at $8.72 on July 1, 2022 in excess of the exercise price multiplied by the number of options outstanding.
RSUs and PRSUs Activity The following table summarized RSUs and PRSUs activities for the fiscal year-to-date ended July 3, 2022 (in thousands, except share and per share amount).
RSUs PRSUs
Number of
Shares
Outstanding		 Weighted Average
Grant Date Fair Value 		Number of
Shares
Outstanding		 Weighted Average
Grant Date Fair Value
Issued and unvested shares balances as of January 2, 2022 535,449  $ 23.38  —  $ — 
Granted 4,110,591  13.35  1,500,845  13.41 
Vested (149,777) 14.40  —  — 
Forfeited (94,465) 18.85  —  — 
Issued and unvested shares outstanding as of July 3, 2022 4,401,798  $ 14.42  1,500,845  $ 13.41