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EQUITY-BASED COMPENSATION
 9 Months Ended
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 OptionsExercise PriceRemaining Contractual Term (Years)Aggregate Intrinsic Value
Outstanding - December 29, 20242,264 $13.96 6.9$227,328 
Granted107 95.03 
Exercised(195)4.10 
Forfeited or expired(83)28.48 
Outstanding - October 5, 20252,093 $18.45 6.6$97,295 
Exercisable - October 5, 20251,255 $12.42 5.8
Vested and expected to vest - October 5, 20252,093 $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 UnitsWeighted-Average Grant Date Fair ValueAggregate Intrinsic Value
Non-vested - December 29, 20241,636 $14.79 $187,109 
Granted152 92.10 
Vested(666)12.74 
Forfeited(132)22.62 
Non-vested - October 5, 2025990 $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.