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EQUITY-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 30, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Equity-Based Compensation Expense Recognized

A summary of equity-based compensation expense recognized during fiscal 2020, fiscal 2019 and fiscal 2018 is as follows:

						2020						2019						2018
Stock options						$	322					$	2,626					$	3,039
Performance stock units						1,309						3,035						2,449
Restricted stock units						3,929						1,844						655
Equity-based compensation expense						$	5,560					$	7,505					$	6,143
Total income tax benefit recognized related to equity-based compensation						$	204					$	188					$	172

Equity-based compensation expense is allocated to General and administrative expenses and Labor and related expenses on the Consolidated Statements of Income (Loss) during fiscal 2020, fiscal 2019 and fiscal 2018 as follows:

						2020						2019						2018
General and administrative expenses						$	5,039					$	7,189					$	5,991
Labor and related expenses						521						316						152
Equity-based compensation expense						$	5,560					$	7,505					$	6,143

Schedule of Fair Value of Stock Options

The fair value of stock option awards was determined on the grant date using the Black-Scholes valuation model based on the following weighted-average assumptions:

			2020						2019						2018
Expected term (years)(1)			7.5						7.5						7.5
Expected volatility(2)			42.3		%				42.2		%				42.5		%
Risk-free interest rate(3)			0.7		%				2.4		%				2.8		%
Dividend yield(4)			—		%				—		%				—		%

(1)    Expected term represents the estimated period of time until an award is exercised and was determined using the simplified method.

(2)    Expected volatility is based on the historical volatility of a selected peer group over a period equivalent to the expected term.

(3)    The risk-free rate is an interpolation of yields on U.S. Treasury securities with maturities equivalent to the expected term.

(4)    We have assumed a dividend yield of zero as we have no plans to declare dividends in the foreseeable future.

Schedule of Stock Options, Activity

A summary of stock option activity for fiscal years 2020 is as follows:

						Stock Options						Weighted Average Exercise Price						Aggregate Intrinsic Value						Weighted Average Remaining Contractual Life (Years)
Outstanding as of December 25, 2019						890,267						$	21.44
			Granted			6,170						35.89
			Exercised			(405,688)						21.20
			Forfeited			(1,725)						(21.00)
Outstanding as of December 30, 2020						489,024						$	21.83					$	30,824					4.2
Options vested and exercisable as of December 30, 2020						474,744						$	21.25					$	30,199					4.1
Options expected to vest as of December 30, 2020						14,280						$	41.09					$	625					8.2

Schedule of Information About Stock Options

The following table summarizes information about stock options outstanding and exercisable as December 30, 2020:

						Options Outstanding																		Options Exercisable
						Number Outstanding at December 30, 2020						Weighted Average Remaining Contractual Life (Years)						Weighted Average Exercise Price						Number Exercisable at December 30, 2020						Weighted Average Remaining Contractual Life (Years)						Weighted Average Exercise Price
Exercise Price
$21.00						466,225						4.1						$	21.00					466,225						4.1						$	21.00
$34.62						7,411						5.4						$	34.62					7,411						5.4						$	34.62
$36.41						1,108						5.9						$	36.41					1,108						5.9						$	36.41
$38.91						2,060						6.4						$	38.91					—						—						$	—
$39.91						3,022						7.2						$	39.91					—						—						$	—
$54.36						3,028						8.2						$	54.36					—						—						$	—
$35.89						6,170						9.2						$	35.89					—						—						$	—

Schedule of Stock Options Outstanding and Exercisable, Option Plans

A summary of unvested performance stock unit activity for fiscal year 2020, is as follows:

						Performance Stock Units						Weighted Average Grant Date Fair Value
Outstanding as of December 25, 2019						117,517						$	51.97
			Granted			79,388						57.20
			Performance achievement(1)			7,792						52.47
			Vested			(50,242)						49.34
			Forfeited			(17,234)						54.45
Outstanding as of December 30, 2020						137,221						$	55.67

(1)    Represents the incremental awards earned and/or awards forfeited based on the achievement of performance conditions

Summary of Restricted Stock Unit Activity

A summary of unvested restricted stock unit activity for fiscal year 2020 is as follows:

						Restricted Stock Units						Weighted Average Grant Date Fair Value
Outstanding as of December 25, 2019						152,098						$	49.87
			Granted			170,528						57.41
			Vested			(41,974)						50.66
			Forfeited			(22,159)						54.46
Outstanding as of December 30, 2020						258,493						$	54.33

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