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Stock-Based Compensation (Tables) | 9 Months Ended
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Oct. 05, 2024
Payout Determined from Total Shareholder Return Shares | The Company TSR compared to the Peer Group TSR will determine the payout as set forth below:
Percentile |  | Payout as % of Target |
90 th |  |  | 200 | %
70 th |  |  | 150 | %
50 th |  |  | 100 | %
30 th |  |  | 50 | %
Below 30 th |  |  | 0 | %
Schedule of ROIC Shares Earned Based on Ranges of Target | The ROIC Shares can be earned based on a ranges of target as defined below:
Difference of ROIC minus WACC |  | 2024 Award
Less than 150 basis points |  | 0%
150 basis points |  | 50%
300 basis points |  | 100%
450+ basis points |  | 150%
Difference of ROIC minus WACC |  | 2023 and 2022 Award
Less than 175 basis points |  | 0%
175 basis points |  | 50%
375 basis points |  | 100%
475+ basis points |  | 125%
Performance-Contingent Restricted Stock Awards | The table below presents the TSR modifier share adjustment (a 127.69% final payout), ROIC modifier share adjustment (a 125% final payout), accumulated dividends on vested shares, and the tax benefit at vesting of the performance-contingent restricted stock awards (amounts in thousands, except per share data):
Award Granted |  |  | Fiscal Year Vested |  |  | TSR Modifier Increase Shares |  |  | ROIC Modifier Increase Shares |  |  | Dividends at Vesting |  |  | Tax Benefit |  |  | Fair Value at Vesting |
| 2021 |  |  |  | 2024 |  |  |  | 92,775 |  |  |  | 83,835 |  |  | $ | 2,173 |  |  | $ | 286 |  |  | $ | 19,419 |
Performance-Contingent Restricted Stock Activity | The company’s performance-contingent restricted stock activity for the forty weeks ended October 5, 2024 is presented below (amounts in thousands, except price data):
|  | Shares |  |  | Weighted Average Grant Date Fair Value |
Nonvested shares at December 30, 2023 |  |  | 2,017 |  |  | $ | 27.70 |
Granted |  |  | 544 |  |  | $ | 24.29 |
Grant increase for achieving the ROIC modifier |  |  | 84 |  |  | $ | 22.51 |
Grant increase for achieving the TSR modifier |  |  | 93 |  |  | $ | 26.07 |
Vested |  |  | (848 | ) |  | $ | 24.40 |
Forfeited |  |  | (51 | ) |  | $ | 28.09 |
Nonvested shares at October 5, 2024 |  |  | 1,839 |  |  | $ | 27.85 |
Time-Based Restricted Stock Units Awards | The following TBRSU Shares have been granted under the Omnibus Plan during the forty weeks ended October 5, 2024 (amounts in thousands, except price data):
Grant Date |  | Shares Granted |  |  | Vesting Date |  | Fair Value per Share |
12/31/2023 |  |  | 818 |  |  | Equally over 3 years |  | $ | 22.51 |
2/16/2024 |  |  | 7 |  |  | Equally over 3 years |  | $ | 22.42 |
7/14/2024 |  |  | 23 |  |  | Equally over 3 years |  | $ | 21.92 |
Time-Based Restricted Stock Units Activity | The TBRSU Shares activity for the forty weeks ended October 5, 2024 is set forth below (amounts in thousands, except price data):
|  | TBRSU Shares |  |  | Weighted Average Fair Value |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Unrecognized Compensation Cost |
Nonvested shares at December 30, 2023 |  |  | 473 |  |  | $ | 26.67 |  |  |  |  |  |  |
Vested |  |  | (249 | ) |  | $ | 25.75 |  |  |  |  |  |  |
Granted |  |  | 848 |  |  | $ | 22.51 |  |  |  |  |  |  |
Forfeitures |  |  | (79 | ) |  | $ | 24.12 |  |  |  |  |  |  |
Nonvested shares at October 5, 2024 |  |  | 993 |  |  | $ | 23.56 |  |  |  | 2.05 |  |  | $ | 15,960 |
Vesting of Time-Based Restricted Stock Units | The table below presents the accumulated dividends on vested shares and the tax (expense)/benefit at vesting of the time-based restricted stock units (amounts in thousands).
Award Granted |  |  | Fiscal Year Vested |  |  | Dividends at Vesting |  |  | Tax (Expense) Benefit |  |  | Fair Value at Vesting |
| 2023 |  |  |  | 2024 |  |  | $ | 73 |  |  | $ | (141 | ) |  | $ | 2,674 |
| 2022 |  |  |  | 2024 |  |  | $ | 103 |  |  | $ | (69 | ) |  | $ | 1,348 |
| 2021 |  |  |  | 2024 |  |  | $ | 197 |  |  | $ | 3 |  |  | $ | 1,734 |
Deferred Stock Activity | The deferred stock activity for the forty weeks ended October 5, 2024 is set forth below (amounts in thousands, except price data):
|  | Shares |  |  | Weighted Average Fair Value |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Unrecognized compensation cost |
Nonvested shares at December 30, 2023 |  |  | 68 |  |  | $ | 26.26 |  |  |  |  |  |  |
Vested |  |  | (66 | ) |  | $ | 25.70 |  |  |  |  |  |  |
Granted |  |  | 77 |  |  | $ | 23.38 |  |  |  |  |  |  |
Nonvested shares at October 5, 2024 |  |  | 79 |  |  | $ | 23.52 |  |  |  | 0.62 |  |  | $ | 1,108 |
Summary of Company's Stock Based Compensation Expense | The following table summarizes the company’s stock-based compensation expense for the twelve and forty weeks ended October 5, 2024 and October 7, 2023, respectively (amounts in thousands):
|  | For the Twelve Weeks Ended |
|  | October 5, 2024 |  |  | October 7, 2023 |
Performance-contingent restricted stock awards |  | $ | 3,717 |  |  | $ | 3,915 |
TBRSU Shares |  |  | 2,238 |  |  |  | 1,536 |
Deferred and restricted stock |  |  | 426 |  |  |  | 432 |
Total stock-based compensation |  | $ | 6,381 |  |  | $ | 5,883 |
|  | For the Forty Weeks Ended |
|  | October 5, 2024 |  |  | October 7, 2023 |
Performance-contingent restricted stock awards |  | $ | 14,360 |  |  | $ | 15,482 |
TBRSU Shares |  |  | 7,595 |  |  |  | 4,611 |
Deferred and restricted stock |  |  | 1,369 |  |  |  | 1,289 |
Total stock-based compensation |  | $ | 23,324 |  |  | $ | 21,382 |
Performance-Contingent Total Shareholder Return Shares |
Performance Contingent TSR Shares, ROIC Shares and Restricted Stock Awards | The following performance-contingent TSR Shares have been granted during the forty weeks ended October 5, 2024 under the Omnibus Plan (amounts in thousands, except price data):
Grant Date |  | Shares Granted |  |  | Vesting Date |  | Fair Value per Share |
12/31/2023 |  |  | 272 |  |  | 2/28/2027 |  | $ | 26.07 |
Return On Invested Capital |
Performance Contingent TSR Shares, ROIC Shares and Restricted Stock Awards | The following performance-contingent ROIC Shares have been granted under the Omnibus Plan during the forty weeks ended October 5, 2024 (amounts in thousands, except price data):
Grant Date |  | Shares Granted |  |  | Vesting Date |  | Fair Value per Share |
12/31/2023 |  |  | 272 |  |  | 2/28/2027 |  | $ | 22.51 |

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