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EQUITY-BASED COMPENSATION
 4 Months Ended
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 OptionsExercise PriceRemaining Contractual Term (Years)Aggregate Intrinsic Value
Outstanding - December 31, 20233,078 $11.45 6.8$97,054 
Granted7 47.84 
Exercised(11)5.34 
Forfeited or expired(15)12.36 
Outstanding - April 21, 20243,059 $11.55 6.5$147,192 
Exercisable - April 21, 20241,586 $5.02 4.2
Vested and expected to vest - April 21, 20243,059 $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 UnitsWeighted-Average Grant Date Fair ValueAggregate Intrinsic Value
Non-vested - December 31, 20232,653 $12.69 $113,985 
Granted18 48.02 
Vested(475)5.88 
Forfeited(67)14.05 
Non-vested - April 21, 20242,129 $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.