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REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY | 9 Months Ended
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Oct. 01, 2023
Equity [Abstract] |
REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY | REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY The Company has reserved shares of common stock for issuance as follows as of the periods indicated:
| October 1, 2023 |  | December 25, 2022
Conversion of outstanding shares of preferred stock | — |  |  | 95,203,554 |
Awards outstanding under the 2015 and 2023 Equity Incentive Plans | 5,880,499 |  |  | 3,639,087 |
Shares available for future issuance under the 2015 and 2023 Equity Incentive Plans | 8,311,490 |  |  | 1,673,424 |
Shares available for future issuance under the 2023 Employee Stock Purchase Plan | 1,762,270 |  |  | — |
Total reserved shares of common stock | 15,954,259 |  |  | 100,516,065 |
On June 20, 2023, we issued 95,203,554 shares of common stock, par value $0.0001 per share, of the Company upon conversion on a one-for-one basis of all outstanding shares of its Series A Preferred Stock, par value $0.0001 per share, Series B Preferred Stock, par value $0.0001 per share, Series C Preferred Stock, par value $0.0001 per share, Series D Preferred Stock, par value $0.0001 per share, Series E Preferred Stock, par value $0.0001 per share, and Series F Preferred Stock, par value $0.0001 per share, pursuant to the Company’s Sixth Amended and Restated Certificate of Incorporation, as amended, and in connection with the Company’s IPO. Conversion of the preferred stock into shares of common stock occurred automatically. As of October 1, 2023 there were no outstanding shares of preferred stock. See Note 1 (Nature of Operations and Basis of Presentation) for more information on the Company’s IPO. Preferred stock consisted of the following as of December 25, 2022:
($ in thousands) | Shares Authorized |  | Shares Issued & Outstanding |  | Liquidation Preference |  | Carrying Value
Series A | 16,002,549 |  |  | 13,304,238 |  |  | $ | 38,161 |  |  | $ | (12,912) |
Series B | 7,731,015 |  |  | 7,713,585 |  |  | 44,250 |  |  | 44,024 |
Series C | 5,205,333 |  |  | 5,161,029 |  |  | 34,950 |  |  | 34,609 |
Series D | 4,463,088 |  |  | 4,420,452 |  |  | 33,389 |  |  | 32,999 |
Series E | 61,570,716 |  |  | 47,702,841 |  |  | 360,315 |  |  | 359,520 |
Series F | 16,901,409 |  |  | 16,901,409 |  |  | 212,000 |  |  | 204,068 |
Total | 111,874,110 |  |  | 95,203,554 |  |  | $ | 723,065 |  |  | $ | 662,308 |

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