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Common Stock and Stock-Based Compensation (Tables)

6 Months Ended

Jul. 01, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Stock Options under Employee Equity Incentive Plan and Stock Option Plan for Non-Employee Directors

Information related to stock options under the Restated Employee Equity Incentive Plan and the Stock Option Plan for Non-Employee Directors is summarized as follows:

		Shares				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term in Years						Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2022			204,245			$	334.26
Granted			51,278				324.78
Exercised			(43,481	)			198.14
Forfeited			(5,756	)			396.86
Outstanding at July 1, 2023			206,286			$	358.85				6.25			-		$	7,742
Exercisable at July 1, 2023			101,963			$	299.46				4.75					$	5,747
Vested and expected to vest at July 1, 2023			173,203			$	350.05				5.91					$	7,343

Weighted Average Assumptions used to Estimate Fair Value of Stock Options

Weighted average assumptions used to estimate fair values of stock options on the date of grants are as follows:

		2023
Expected Volatility			39.6	%
Risk-free interest rate			3.8	%
Expected Dividends			0.0	%
Exercise factor			2.4
Discount for post-vesting restrictions			0.6	%

Summary of Vesting Activities of Shares Issued Under Investment Share Program and Restricted Stock Awards

The following table summarizes vesting activities of shares issued under the investment share program and restricted stock awards:

		Number of Shares				Weighted Average Fair Value
Non-vested at December 31, 2022			91,211			$	410.22
Granted			61,285				303.89
Vested			(27,569	)			341.73
Forfeited			(12,748	)			367.63
Non-vested at July 1, 2023			112,179			$	373.80

Stock-Based Compensation Expense Included in Operating Expenses

The following table provides information regarding stock-based compensation expense included in operating expenses in the accompanying condensed consolidated statements of comprehensive operations:

		Thirteen weeks ended								Twenty-six weeks ended
		July 1, 2023				June 25, 2022				July 1, 2023				June 25, 2022
		(in thousands)								(in thousands)
Amounts included in advertising, promotional and selling expenses		$	1,539			$	1,494			$	3,582			$	2,721
Amounts included in general and administrative expenses			2,654				3,314				4,684				5,009
Total stock-based compensation expense		$	4,193			$	4,808			$	8,266			$	7,730

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
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Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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