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Unit-based Compensation (Tables)

6 Months Ended

12 Months Ended

Mar. 26, 2022

Sep. 25, 2021

Share-based Payment Arrangement [Abstract]

Summary of Class C Units outstanding and vested

The following is a summary of Class C Units outstanding and vested:

		Class C Units
Balance at September 25, 2021			428,571
Granted			8,468
Redeemed			—
Forfeited			(8,468	)
Balance at March 26, 2022			428,571
Vested at March 26, 2022			359,569

The following is a summary of Class C Units outstanding and vested:

		Class C Units
Balance at September 29, 2018			428,571
Granted			64,987
Redeemed			—
Forfeited			(64,987	)
Balance at September 28, 2019			428,571
Granted			42,587
Redeemed			—
Forfeited			(42,587	)
Balance at September 26, 2020			428,571
Granted			51,543
Redeemed			—
Forfeited			(51,543	)
Balance at September 25, 2021			428,571
Vested at September 25, 2021			340,282

Summary of the fair value of each Class C Unit grant using a Black-Scholes option

The fair value of each Class C Unit granted during the three months ended March 26, 2022 and year ended September 25, 2021 was estimated on the date of the award using a combination of the market approach and income approach, which utilizes a Black-Scholes option pricing model with the following assumptions:

		March 26, 2022				September 25, 2021
Dividend yield			—	%			—	%
Volatility (a)			45.00	%			40.00	%
Risk-free interest rate (b)			2.30	%			0.29	%
Expected term (years) (c)			2.00				2.00

(a) The expected volatility is estimated based on the historical volatility of a select peer group of similar publicly traded companies for a term that is consistent with the expected term of the Class C Units.

(b) The risk-free interest rate is based on the U.S. Treasury constant maturity interest rate whose term is consistent with the expected term of the Class C Units.

(c) The expected term is based on estimated liquidity event timing, which is based on a combination of scenarios with one being based on the probability of an initial public offering and the other based on the expected timing of a potential exit event under a remain private scenario.

The fair value of each Class C Unit grant was estimated on the date of the award using a Black-Scholes option pricing model with the following assumptions:

		Year Ended
		September 25, 2021				September 26, 2020				September 28, 2019
Dividend yield			0	%			0	%			0	%
Volatility(a)			40.0	%			50.0	%			40.0	%
Risk-free interest rate(b)			0.29	%			0.12	%			1.58	%
Expected term (years)(c)			2.00				1.25				3.00

(a) The expected volatility is estimated based on the historical volatility of a select peer group of similar publicly traded companies for a term that is consistent with the expected term of the Class C Units.

(b) The risk-free interest rate is based on the U.S. Treasury constant maturity interest rate whose term is consistent with the expected term of the Class C Units.

(c) The expected term is based on estimated liquidity event timing as further described above.

Summary of VAP Units outstanding and vested:

The following is a summary of Value Appreciation Units (“VAP Units”) outstanding and vested:

		VAP Units
Balance at September 25, 2021			4,039,620
Granted			—
Exercised			(255,845	)
Forfeited			(92,664	)
Balance at March 26, 2022			3,691,111
Vested at March 26, 2022			3,554,588
Vested and exercisable at March 26, 2022			2,369,725

The following is a summary of VAP Units outstanding and vested:

		VAP Units
Balance at September 29, 2018			7,574,464
Granted			—
Exercised			—
Forfeited			(2,521,282	)
Balance at September 28, 2019			5,053,182
Granted			—
Exercised			—
Forfeited			(663,925	)
Balance at September 26, 2020			4,389,257
Granted			—
Exercised			—
Forfeited			(349,637	)
Balance at September 25, 2021			4,039,620
Vested at September 25, 2021			3,672,430
Vested and exercisable at September 25, 2021			2,448,287

Schedule of share based payment award warrant units valuation assumptions

The assumptions made for purposes of estimating fair value under the Black-Scholes pricing model for the Warrants were as follows:​​​​​​​

		Selected Assumption
Dividend yield			0	%
Volatility (a)			43.00	%
Risk-free interest rate (b)			1.65	%
Expected term (years) (c)			10.00

(a) The expected volatility is estimated based on the historical volatility of a select peer group of similar publicly traded companies for a term that is consistent with the expected term of the Warrants.

(b) The risk-free interest rate is based on the U.S. Treasury constant maturity interest rate whose term is consistent with the expected term of the Warrants.

(c) The expected term is based on the contractual term of the Warrants.

The assumptions made for purposes of estimating fair value under the Black-Scholes pricing model for the Warrants were as follows:​​​​​​​

		Selected Assumption
Dividend yield			0	%
Volatility(a)			43.0	%
Risk-free interest rate(b)			1.65	%
Expected term (years)(c)			10.00

(a) The expected volatility is estimated based on the historical volatility of a select peer group of similar publicly traded companies for a term that is consistent with the expected term of the Warrants.

(b) The risk-free interest rate is based on the U.S. Treasury constant maturity interest rate whose term is consistent with the expected term of the Warrants.

(c) The expected term is based on the contractual term of the Warrants.

Schedule of stock warrant activity

The following table summarizes stock warrant activity for the year ended September 25, 2021:

		Warrant Units
Outstanding and nonvested at September 26, 2020			—
Granted			714,022
Vested			(446,741	)
Outstanding and nonvested at September 25, 2021			267,281

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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