Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation (Tables)

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Stock-based Compensation (Tables)
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Total Stock-based Compensation Expense
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
March 31, 2024 April 2, 2023
Cost of revenue $ —  $ 951 
Research and development 6,554  11,667 
Selling, general and administrative 6,206  16,539 
Total stock-based compensation expense $ 12,760  $ 29,157 
Schedule of Stock Option Activity
The following table summarizes stock option activities for the quarter ended March 31, 2024 (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 1, 2024 2,615,199 $ 9.71 
Exercised (43,041) 2.23  $ 336 
Forfeited (57,904) 11.23 
Balances as of March 31, 2024 2,514,254 $ 9.80  7.0 $ 772 
(1) The intrinsic value of options exercised is based upon the value of our stock at exercise.
(2)
The aggregate intrinsic value of the stock options outstanding as of March 31, 2024 represents the value of our closing stock price at $8.01 on the last trading day of the quarter ended March 31, 2024 in excess of the exercise price multiplied by the number of options outstanding.
Schedule of RSUs and PRSUs Activity
The following table summarizes RSUs and PRSUs activities for the fiscal quarter ended March 31, 2024 (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 1, 2024 10,893,271  $ 11.58  531,469  $ 13.16 
Granted 826,024  9.87  —  — 
Vested (1,849,845) 9.54  (63,298) 13.41 
Forfeited (466,238) 13.94  (144,829) 13.13 
Issued and unvested shares outstanding as of March 31, 2024 9,403,212  $ 11.72  323,342  $ 13.13