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EQUITY-BASED COMPENSATION | 9 Months Ended
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Oct. 05, 2025
Share-Based Payment Arrangement [Abstract] |
EQUITY-BASED COMPENSATION | EQUITY-BASED COMPENSATION The Company recognized equity-based compensation expense (including applicable payroll taxes) of $3.3 million and $14.5 million during the twelve and forty weeks ended October 5, 2025, and $3.5 million and $12.2 million during the twelve and forty weeks ended October 6, 2024, 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 29, 2024 | 2,264 |  |  | $ | 13.96 |  |  | 6.9 |  | $ | 227,328 |
Granted | 107 |  |  | 95.03 |  |  |  |  |
Exercised | (195) |  |  | 4.10 |  |  |  |  |
Forfeited or expired | (83) |  |  | 28.48 |  |  |  |  |
Outstanding - October 5, 2025 | 2,093 |  |  | $ | 18.45 |  |  | 6.6 |  | $ | 97,295 |
Exercisable - October 5, 2025 | 1,255 |  |  | $ | 12.42 |  |  | 5.8 |  |
Vested and expected to vest - October 5, 2025 | 2,093 |  |  | $ | 18.45 |  |  | 6.6 |  | $ | 97,295 |
As of October 5, 2025, unrecognized compensation expense related to option awards was $10.0 million, which is expected to be recognized over a weighted-average period of 2.7 years. A summary of the Company’s restricted stock unit (“RSU”) 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 29, 2024 | 1,636 |  |  | $ | 14.79 |  |  | $ | 187,109 |
Granted | 152 |  |  | 92.10 |  |  |
Vested | (666) |  |  | 12.74 |  |  |
Forfeited | (132) |  |  | 22.62 |  |  |
Non-vested - October 5, 2025 | 990 |  |  | $ | 26.99 |  |  | $ | 62,895 |
As of October 5, 2025, unrecognized compensation expense related to RSU awards was $21.6 million, which is expected to be recognized over a weighted-average period of 2.6 years.

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