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Stock-Based Compensation | 6 Months Ended
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Sep. 29, 2024
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation As of September 29, 2024, the Company maintains the 2023 Equity Incentive Plan (“2023 EIP”). The 2023 EIP reserved 3,614,500 shares of common stock for the grant of various classes of nonqualified stock options, restricted stock units, market condition-based on total shareholder return (“TSR”) and performance condition-based share units (“PSU”) and other forms of equity-based compensation. The Company recognized stock-based compensation expense associated with its equity incentive plans of $5,125 for the second quarter of fiscal 2025 and $5,144 for the second quarter of fiscal 2024. Stock-based compensation expense was $12,187 and $13,077 for the six months of fiscal 2025 and fiscal 2024, respectively. The Company recognizes compensation expense using the straight-line method over the vesting period of the awards. During the six months of fiscal 2025, the Company granted to non-employee directors 25,107 restricted stock units, under the deferred compensation plan for non-employee directors. The awards vest immediately upon the date of grant and are settled in shares of common stock. During the six months of fiscal 2025, the Company granted to management and other key employees 238,712 non-qualified stock options that vest ratably over three years from the date of the grant and 309,356 restricted stock units that vest ratably over four years from the date of grant. Common stock activity during the six months of fiscal 2025 included the exercise of 105,055 stock options and the vesting or release of 306,932 restricted stock units including non-employee director restricted stock units As of September 29, 2024, there were 1,323,766 non-qualified stock options, 1,032,531 restricted stock units including non-employee director restricted stock units and 1,134 TSRs outstanding.

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