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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Assumptions for Option-Pricing Model Used in Determining Fair Value of Stock Options Granted

The

following table includes the assumptions for the Black-Scholes option-pricing model used in determining the fair value of these options granted during 2020.

						Year Ended
									January 2, 2021
Dividend yield									5.00		%
Risk-free interest rate									0.31		%
Volatility									39.97		%
Expected term (years)									6

Summary of Changes in Stock Options Outstanding

A summary of the changes in stock options outstanding to the Company’s employees is presented below:

 

			Shares						Weighted- Average Exercise Price						Aggregate Intrinsic Value						Weighted- Average Remaining Contractual Term (Years)
Options outstanding at December 28, 2019			471						$	6.79					$	3,786					0.94
Granted			250						17.18
Exercised			(471)						6.79
Options outstanding at January 2, 2021			250						$	17.18					$	22					9.59
Granted			—						—
Exercised			—						—
Options outstanding at January 1, 2022			250						$	17.18					$	200					8.59
Granted			—						—
Exercised			—						—
Options outstanding at December 31, 2022			250						$	17.18					$	—					7.59
Options exercisable at December 31, 2022			167						$	15.75					$	—					7.59

Summary of Changes in Restricted Stock Unit Awards Outstanding

A summary of the changes in the restricted stock unit awards outstanding is presented below:

			Shares						Weighted- Average Grant Date Fair Value						Aggregate Intrinsic Value						Weighted- Average Remaining Contractual Term (Years)
Nonvested share units outstanding at December 28, 2019			1,867						$	16.93					$	27,692					1.50
Granted — non-performanced based			1,006						14.26
Granted — performanced based			1,124						14.40
Vested			(803)						19.08
Forfeited			(83)						15.53
Nonvested share units outstanding at January 2, 2021			3,111						$	14.64					$	45,361					1.32
Granted — non-performanced based			970						16.11
Granted — performanced based			(149)						16.22
Vested			(1,694)						14.87
Forfeited			(117)						15.36
Nonvested share units outstanding at January 1, 2022			2,121						$	16.53					$	35,455					1.18
Granted — non-performanced based			1,178						15.39
Granted — performanced based			1,624						16.98
Vested			(829)						15.92
Forfeited			(435)						16.84
Nonvested share units outstanding at December 31, 2022			3,659						$	16.46					$	23,268					1.24

Summary of Compensation Expense and Deferred Tax Benefit from Share-based Payment Awards

For all share-based payments under the Omnibus Incentive Plan and outside the Omnibus Incentive Plan in 2020, the Company recognized compensation expense and deferred tax benefits as follows:

						Years Ended
									December 31, 2022						January 1, 2022						January 2, 2021
Compensation expense included in continuing operations									$	23,357					$	16,065					$	18,202
Compensation expense included in discontinued operations									(200)						225						462
Total compensation expense									$	23,157					$	16,290					$	18,664
Deferred tax benefit recognized in continuing operations									$	—					$	2,499					$	1,808

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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