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EQUITY-BASED COMPENSATION (Tables) | 9 Months Ended
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Oct. 01, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Options Roll Forward | A summary of the Company’s stock option activity is as follows:
|  |  | Weighted Average |  |
($ in thousands except per share amounts) | Number Of Options |  | Exercise Price |  | Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value
Outstanding - December 26, 2021 | 1,431,771 |  |  | $ | 4.45 |  |  | 5.8 |  | $ | 3,828 |
Granted | 459,066 |  |  | 6.75 |  |  |  |  |
Exercised | (13,608) |  |  | 2.39 |  |  |  |  |
Forfeited or expired | (10,800) |  |  | 2.70 |  |  |  |  |
Outstanding - October 2, 2022 | 1,866,429 |  |  | $ | 5.04 |  |  | 6.1 |  | $ | 5,424 |
Exercisable - October 2, 2022 | 1,344,153 |  |  | $ | 4.37 |  |  | 4.9 |  |
Vested and expected to vest - October 2, 2022 | 1,866,429 |  |  | $ | 5.04 |  |  | 6.1 |  | $ | 5,424 |
Outstanding - December 25, 2022 | 1,863,099 |  |  | $ | 5.04 |  |  | 5.9 |  | $ | 8,444 |
Granted | 1,373,215 |  |  | 19.61 |  |  |  |  |
Exercised | (61,748) |  |  | 4.75 |  |  |  |  |
Forfeited or expired | (79,741) |  |  | 9.47 |  |  |  |  |
Outstanding - October 1, 2023 | 3,094,825 |  |  | $ | 11.40 |  |  | 7.0 |  | $ | 59,508 |
Exercisable - October 1, 2023 | 1,457,407 |  |  | $ | 4.69 |  |  | 4.2 |  |
Vested and expected to vest - October 1, 2023 | 3,094,825 |  |  | $ | 11.40 |  |  | 7.0 |  | $ | 59,508 |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions | The following table reflects the weighted-average assumptions utilized in the Black-Scholes option pricing model during the periods indicated:
| Forty Weeks Ended
| October 1, 2023 |  | October 2, 2022
Expected term (in years)1 | 6.4 |  | 6.2
Volatility 2 | 46.0% |  | 45.0%
Risk-free interest rate | 3.8% |  | 1.7%
Dividend rate | —% |  | —%
Weighted-average grant date fair value per share | $9.98 |  | $2.97
(1) Expected life was calculated using the simplified method, which is an average of the contractual term and vesting period of the option, as we do not have sufficient historical data for determining the expected term of our stock option awards.
(2) Volatility was based on a group of industry peers with sufficient history.
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity | A summary of the Company’s restricted stock unit activity is as follows:
($ in thousands, except per share amounts) | Number of Units |  | Weighted-Average Grant Date Fair Value |  | Aggregate Intrinsic Value
Non-vested - December 26, 2021 | 1,486,977 |  |  | $ | 3.08 |  |  | $ | 10,032 |
Granted | 880,656 |  |  | 6.74 |  |  |
Vested | (298,605) |  |  | 2.76 |  |  |
Forfeited | (149,607) |  |  | 3.55 |  |  |
Non-vested - October 2, 2022 | 1,919,421 |  |  | $ | 4.76 |  |  | $ | 15,240 |
Non-vested - December 25, 2022 | 1,775,988 |  |  | $ | 4.76 |  |  | $ | 16,996 |
Granted | 1,697,450 |  |  | 17.51 |  |  |
Vested | (457,545) |  |  | 4.56 |  |  |
Forfeited | (230,219) |  |  | 7.53 |  |  |
Non-vested - October 1, 2023 | 2,785,674 |  |  | $ | 12.35 |  |  | $ | 85,297 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition 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. + References No definition available. + Details
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