Stock-based Compensation (Tables)
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9 Months Ended |
Sep. 26, 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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Thirty-nine Weeks Ended |
| in thousands |
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September 26, 2024 |
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September 28, 2023 |
| General and administrative |
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$ |
22,338 |
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$ |
18,927 |
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| Selling and store operating |
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3,280 |
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1,409 |
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| Total stock-based compensation expense |
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$ |
25,618 |
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$ |
20,336 |
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| Schedule of Stock Option Activity |
The table below summarizes stock option activity for the thirty-nine weeks ended September 26, 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 |
(331,778) |
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$ |
18.72 |
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| Forfeited or expired |
(2,518) |
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$ |
68.82 |
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Outstanding at September 26, 2024 |
1,273,045 |
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$ |
30.97 |
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Vested and exercisable at September 26, 2024 |
1,258,196 |
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$ |
30.21 |
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| Schedule of Restricted Stock Unit Activity |
The following table summarizes restricted stock unit activity during the thirty-nine weeks ended September 26, 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 |
252,692 |
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50,855 |
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— |
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303,547 |
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| Vested |
(214,620) |
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— |
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— |
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(214,620) |
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| Forfeited |
(38,539) |
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(13,838) |
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(4,204) |
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(56,581) |
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| Unvested at September 26, 2024 |
607,673 |
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225,560 |
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54,650 |
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887,883 |
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| Schedule of Restricted Stock Award Activity |
The following table summarizes restricted stock award activity during the thirty-nine weeks ended September 26, 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 September 26, 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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