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Marketable Securities

9 Months Ended

Sep. 27, 2025

Marketable Securities.

Marketable Securities

(3) Marketable Securities

The Company’s marketable securities are all classified as available-for-sale within “Current Assets” in the Company’s Condensed Consolidated Balance Sheets. The FASB has established three levels of inputs that may be used to measure fair value:

Level 1Observable inputs such as quoted prices in active markets for identical assets or liabilities;

Level 2Observable inputs, other than Level 1 inputs in active markets, that are observable either directly or indirectly; and

Level 3Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions.

WEIS MARKETS, INC.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited)

The Company’s marketable securities valued using Level 1 inputs include highly liquid equity securities, for which quoted market prices are available. The Company’s bond and commercial paper portfolio is valued using a combination of pricing for similar securities, recently executed transactions, cash flow models with yield curves and other pricing models utilizing observable inputs, which are considered Level 2 inputs.

For Level 2 investment valuation, the Company utilizes standard pricing procedures of its investment advisory firm which includes various third-party pricing services. These procedures also require specific price monitoring practices as well as pricing review reports, valuation oversight and pricing challenge procedures to maintain the most accurate representation of investment fair market value.

The Company accrues interest on its bond and commercial paper portfolio throughout the life of each bond and commercial paper held. Unrealized gains and losses on debt securities are recognized in “Accumulated other comprehensive income (loss)” on the Company’s Condensed Consolidated Balance Sheets. Dividends from the equity securities are recognized as received. Interest, dividends and unrealized gains and losses on equity securities are recognized in “Investment income (loss) and interest expense” on the Company’s Condensed Consolidated Statements of Income. In the thirteen weeks ended September 27, 2025, the Company recognized investment income of $1.7 million, which included an unrealized gain in equity securities of $414 thousand. In the thirteen weeks ended September 28, 2024, the Company recognized investment income of $6.2 million, which included an unrealized gain in equity securities of $653 thousand. In the thirty-nine weeks ended September 27, 2025, the Company recognized investment income of $9.6 million, which included an unrealized gain in equity securities of $1.4 million. In the thirty-nine weeks ended September 28, 2024, the Company recognized investment income of $14.1 million, which included an unrealized gain in equity securities of $1.0 million.

Marketable securities, as of September 27, 2025 and December 28, 2024, consisted of:


					Gross			Gross
(amounts in thousands)		Amortized			Unrealized			Unrealized			Fair
September 27, 2025		Cost			Holding Gains			Holding Losses			Value
Available-for-sale:
Level 1
Equity securities											$	7,312
Level 2
Corporate and municipal bonds		$	119,152		$	2,313		$	(5,833)			115,632
Total		$	119,152		$	2,313		$	(5,833)		$	122,944


					Gross			Gross
(amounts in thousands)		Amortized			Unrealized			Unrealized			Fair
December 28, 2024		Cost			Holding Gains			Holding Losses			Value
Available-for-sale:
Level 1
Equity securities											$	5,930
Level 2
Corporate and municipal bonds		$	171,258		$	2,525		$	(6,583)			167,201
Commercial paper			18,671			169			—			18,840
Total		$	189,930		$	2,695		$	(6,583)		$	191,971

WEIS MARKETS, INC.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited)

Maturities of marketable securities classified as available-for-sale at September 27, 2025, were as follows:


		Amortized			Fair
(amounts in thousands)		Cost			Value
Available-for-sale:
Due within one year		$	13,892		$	13,837
Due after one year through five years			43,147			41,602
Due after five years through ten years			9,934			9,690
Due after ten years			52,180			50,503
Total		$	119,152		$	115,632

Subsequent to September 27, 2025, the Company divested a portion of its marketable securities portfolio to increase cash and cash equivalents liquidity to satisfy working capital obligations, selling $7.2 million in equity securities and $24.4 million in corporate and municipal bonds.

SERP Investments

The Company also maintains a non-qualified supplemental executive retirement plan for certain of its employees which allows them to defer income to future periods. Participants in the plans earn a return on their deferrals based on mutual fund investments. The Company chooses to invest in the underlying mutual fund investments to offset the liability associated with the non-qualified deferred compensation plans. Such investments are reported on the Company’s Condensed Consolidated Balance Sheets as “SERP investment,” are classified as trading securities and are measured at fair value using Level 1 inputs with gains and losses included in “Investment income (loss) and interest expense” on the Company’s Condensed Consolidated Statements of Income. The Company recognized investment income of $1.6 million in each of the thirteen weeks ended September 27, 2025 and September 28, 2024. The Company recognized investment income of $3.4 million in each of the first thirty-nine weeks of 2025 and 2024. The changes in the underlying liability to the employees are recorded in “Other income (expense).”