Quarterly report pursuant to Section 13 or 15(d)

Equity Incentive Plan and Unit Option Plan (Tables)

v3.22.2.2
Equity Incentive Plan and Unit Option Plan (Tables)
 9 Months Ended
Oct. 01, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Restricted Stock Unit Activity
RSUs are subject to one or four years’ service vesting period. RSUs activity for the nine months ended October 1, 2022 is as follows:

Nine Months Ended October 1, 2022
RSUs Weighted-Average Grant Date Fair Value
Outstanding at January 1, 2022
 275,370  $ 11.9 
Granted 375,255  9.9 
Vested (85,543) 11.5 
Forfeited (25,711) 10.5 
Outstanding at October 1, 2022
 539,371  $ 10.6 
Unvested at October 1, 2022
 539,371  $ 10.6 
Schedule of Valuation Assumptions
A summary of the assumptions used in determining the fair value of stock options is as follows:

Nine Months Ended October 1, 2022
Expected life of option (years) 6.25
Risk-free interest rate
2.9% - 3.0%
Expected volatility of the Company’s stock 45  %
Expected dividend yield on the Company’s stock —  %
Schedule of Stock Option Activity
Stock option activity for the nine months ended October 1, 2022 is as follows:

Nine Months Ended October 1, 2022
Stock Options Weighted-Average Grant Date Fair Value Weighted Average Remaining Contractual Life (in years) Intrinsic value
Outstanding at January 1, 2022
 —  $ —  $ — 
Granted 736,106  4.5  9.8 — 
Vested —  —  — 
Forfeited (35,376) 4.5  — 
Outstanding at October 1, 2022
 700,730  $ 4.5  9.8 $ — 
Unvested at October 1, 2022
 700,730  $ 4.5  9.8 $ —