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Stock-Based Compensation (Tables) | 6 Months Ended
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Jul. 02, 2024
Stock-Based Compensation |
Schedule of information related to stock-based compensation, net of forfeitures | The following table presents information related to stock-based compensation, net of forfeitures (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Thirteen | ​ | Thirteen | ​ | Twenty-Six | ​ | Twenty-Six
​ | ​ | Weeks Ended | ​ | Weeks Ended | ​ | Weeks Ended | ​ | Weeks Ended
​ |  | July 2, 2024 |  | July 4, 2023 |  | July 2, 2024 |  | July 4, 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Labor expenses | ​ | $ | 2,566 | ​ | $ | 2,426 | ​ | $ | 5,061 | ​ | $ | 4,788
Other operating costs and expenses | ​ | ​ | 78 | ​ | ​ | 76 | ​ | ​ | 156 | ​ | ​ | 151
General and administrative expenses | ​ | ​ | 4,182 | ​ | ​ | 3,823 | ​ | ​ | 9,258 | ​ | ​ | 7,288
Total stock-based compensation | ​ | ​ | 6,826 | ​ | ​ | 6,325 | ​ | ​ | 14,475 | ​ | ​ | 12,227
Income tax benefit | ​ | ​ | 1,706 | ​ | ​ | 1,579 | ​ | ​ | 3,614 | ​ | ​ | 3,053
Total stock-based compensation, net of taxes | ​ | $ | 5,120 | ​ | $ | 4,746 | ​ | $ | 10,861 | ​ | $ | 9,174
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capitalized stock-based compensation (1) | ​ | $ | 56 | ​ | $ | 45 | ​ | $ | 105 | ​ | $ | 87
(1) | It is our policy to capitalize the portion of stock-based compensation costs for our internal development department that relates to capitalizable activities such as the design and construction of new restaurants, remodeling existing locations and equipment installation. Capitalized stock-based compensation is included in property and equipment, net on the consolidated balance sheets.
Schedule of stock option activity | We did not issue any stock options during the second quarters of fiscal 2024 and fiscal 2023. Stock option activity during twenty-six weeks ended July 2, 2024 was as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Weighted- | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Average | ​ | ​
​ | ​ | ​ | ​ | Weighted- | ​ | Remaining | ​ | ​
​ | ​ | ​ | ​ | Average | ​ | Contractual | ​ | Aggregate
​ |  | Shares |  | Exercise Price |  | Term |  | Intrinsic Value (1)
​ | ​ | (In thousands) | ​ | (Per share) | ​ | (In years) | ​ | (In thousands)
Outstanding at January 2, 2024 | ​ | 1,550 | ​ | $ | 45.75 | ​ | 3.8 | ​ | $ | 0
Granted |  | 81 | ​ | ​ | 34.91 | ​ | ​ | ​ | ​ | ​
Exercised |  | — | ​ | ​ | — | ​ | ​ | ​ | ​ | ​
Forfeited or cancelled |  | (156) | ​ | ​ | 50.26 | ​ | ​ | ​ | ​ | ​
Outstanding at July 2, 2024 | ​ | 1,475 | ​ | $ | 44.68 | ​ | 4.0 | ​ | $ | 238
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Exercisable at July 2, 2024 |  | 1,233 | ​ | $ | 45.90 | ​ | 3.4 | ​ | $ | 0
(1) | Aggregate intrinsic value is calculated as the difference between our closing stock price at fiscal period end and the exercise price, multiplied by the number of in-the-money options and represents the pre-tax amount that would have been received by the option holders, had they all exercised their options on the fiscal period-end date.
Schedule of restricted share and restricted share unit activity | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted-
​ | ​ | ​ | ​ | Average
​ |  | Shares |  | Fair Value
​ | ​ | (In thousands) | ​ | (Per share)
Outstanding at January 2, 2024 |  | 2,886 | ​ | $ | 40.28
Granted |  | 812 | ​ | ​ | 35.04
Vested |  | (476) | ​ | ​ | 47.26
Forfeited |  | (87) | ​ | ​ | 36.13
Outstanding at July 2, 2024 |  | 3,135 | ​ | $ | 37.97

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