Stock-based Compensation (Tables)
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3 Months Ended |
Mar. 28, 2024 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Stock-Based Compensation Expense |
The table below presents components of stock-based compensation expense within the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income:
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Thirteen Weeks Ended |
| in thousands |
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March 28, 2024 |
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March 30, 2023 |
| General and administrative |
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$ |
6,273 |
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$ |
6,367 |
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| Selling and store operating |
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959 |
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374 |
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| Total stock-based compensation expense |
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$ |
7,232 |
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$ |
6,741 |
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| Stock Option Activity |
The table below summarizes stock option activity for the thirteen weeks ended March 28, 2024.
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Options |
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Weighted Average Exercise Price |
Outstanding at December 29, 2023 |
1,607,341 |
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$ |
28.51 |
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| Exercised |
(170,713) |
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$ |
22.58 |
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| Forfeited or expired |
(1,132) |
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$ |
92.56 |
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Outstanding at March 28, 2024 |
1,435,496 |
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$ |
29.16 |
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Vested and exercisable at March 28, 2024 |
1,419,169 |
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$ |
28.43 |
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| Restricted Stock Unit Activity |
The following table summarizes restricted stock unit activity during the thirteen weeks ended March 28, 2024:
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Restricted Stock Units |
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Service-based |
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Performance-based |
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Total shareholder return |
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Total Restricted Stock Units |
| Unvested at December 29, 2023 |
608,140 |
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188,543 |
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58,854 |
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855,537 |
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| Granted |
236,678 |
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50,855 |
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— |
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287,533 |
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| Vested |
(183,689) |
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— |
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— |
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(183,689) |
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| Forfeited |
(17,655) |
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(13,001) |
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(4,204) |
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(34,860) |
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| Unvested at March 28, 2024 |
643,474 |
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226,397 |
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54,650 |
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924,521 |
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| Restricted Stock Award Activity |
The following table summarizes restricted stock award activity during the thirteen weeks ended March 28, 2024:
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Restricted Stock Awards |
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Service-based |
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Performance-based (1) |
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Total shareholder return (1) |
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Total Restricted Stock Awards |
| Unvested at December 29, 2023 |
34,783 |
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47,662 |
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31,056 |
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113,501 |
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| Vested |
(30,680) |
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(47,662) |
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(31,056) |
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(109,398) |
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| Forfeited |
(395) |
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— |
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— |
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(395) |
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| Unvested at March 28, 2024 |
3,708 |
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— |
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— |
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3,708 |
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(1) The performance-based and total shareholder return restricted stock awards that vested during the period were issued at 100% of target based on achievement of the predetermined performance and total shareholder return criteria as specified in the underlying grant agreements.
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