Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.22.2.2
Fair Value Measurements (Tables)
 9 Months Ended
Oct. 03, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables summarize the fair values of financial instruments measured at fair value on a recurring basis as of October 3, 2022 and December 31, 2021.

Items Measured at Fair Value at October 3, 2022
(in thousands) Quoted prices in active market for identical assets (liabilities) (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3)
Redeemable preferred stock $ —  $ 50,416  $ — 
Related party note —  9,107  — 
Warrant liability —  —  656 
Total $ —  $ 59,523  $ 656 

Items Measured at Fair Value at December 31, 2021
(in thousands) Quoted prices in active market for identical assets (liabilities) (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3)
Redeemable preferred stock $ —  $ 47,525  $ — 
Related party note —  8,724  — 
Warrant liability —  —  2,706 
Total $ —  $ 56,249  $ 2,706 
Input Variable for Black-Scholes Model
The following table summarizes activity of restricted stock units during the nine months ended October 3, 2022:

Number of Restricted Stock Units Weighted Average Grant Date Fair Value
Non-vested at December 31, 2021 1,783,698 $ 14.18 
Granted 552,847 4.69 
Vested (324,289) 14.80 
Forfeited (308,597) 12.32 
Non-vested at October 3, 2022 1,703,659 $ 11.29 
The input variables for the Black-Scholes are noted in the table below:

October 3, 2022 December 31, 2021
Risk-free interest rate 4.02  % 1.11  %
Expected life in years 3.21 3.96
Expected volatility 57.2  % 41.8  %
Expected dividend yield —  % —  %