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EQUITY-BASED COMPENSATION | 4 Months Ended
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Apr. 21, 2024
Share-Based Payment Arrangement [Abstract] |
EQUITY-BASED COMPENSATION | EQUITY-BASED COMPENSATION The Company recognized equity-based compensation expense of $5.2 million and $1.2 million (including applicable payroll taxes) during the sixteen weeks ended April 21, 2024 and April 16, 2023, respectively, related to its equity incentive plans and employee stock purchase plan, recorded within general and administrative expenses in the accompanying unaudited condensed consolidated statements of operations. 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 31, 2023 | 3,078 |  |  | $ | 11.45 |  |  | 6.8 |  | $ | 97,054 |
Granted | 7 |  |  | 47.84 |  |  |  |  |
Exercised | (11) |  |  | 5.34 |  |  |  |  |
Forfeited or expired | (15) |  |  | 12.36 |  |  |  |  |
Outstanding - April 21, 2024 | 3,059 |  |  | $ | 11.55 |  |  | 6.5 |  | $ | 147,192 |
Exercisable - April 21, 2024 | 1,586 |  |  | $ | 5.02 |  |  | 4.2 |  |
Vested and expected to vest - April 21, 2024 | 3,059 |  |  | $ | 11.55 |  |  | 6.5 |  | $ | 147,192 |
As of April 21, 2024, unrecognized compensation expense related to option awards was $11.4 million, which is expected to be recognized over a weighted-average period of 3.6 years. 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 31, 2023 | 2,653 |  |  | $ | 12.69 |  |  | $ | 113,985 |
Granted | 18 |  |  | 48.02 |  |  |
Vested | (475) |  |  | 5.88 |  |  |
Forfeited | (67) |  |  | 14.05 |  |  |
Non-vested - April 21, 2024 | 2,129 |  |  | $ | 14.47 |  |  | $ | 127,025 |
As of April 21, 2024, unrecognized compensation expense related to RSU awards was $24.6 million, which is expected to be recognized over a weighted-average period of 3.2 years.

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