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Shareholders' Equity (Deficit):

9 Months Ended

Sep. 27, 2025

Shareholders' Equity (Deficit):

Shareholders' Equity (Deficit):

8. Shareholders’ Equity (Deficit):

Dividends

On January 29, 2025, the Company’s Board of Directors approved the payment of a $0.90 per share quarterly cash dividend to shareholders of record at the close of business on February 12, 2025, which was paid on March 3, 2025.

On April 16, 2025, the Company’s Board of Directors approved the payment of a $0.96 per share quarterly cash dividend to shareholders of record at the close of business on May 14, 2025, which was paid on June 2, 2025.

On July 15, 2025, the Company’s Board of Directors approved the payment of a $0.96 per share quarterly cash dividend to shareholders of record at the close of business on August 13, 2025, which was paid on September 2, 2025.

Repurchase of Common Stock

During the first nine months of 2025, the Company repurchased 7,944 shares of its common stock. Under the Board of Directors’ authorization, as of September 27, 2025, the Company has the ability to repurchase an additional 70,656 shares of its common stock. Repurchases may be made from time to time at prevailing prices, subject to certain restrictions on volume, pricing and timing.

Stock Option Plans and Stock-Based Compensation

Stock option activity under the Company’s option plans as of September 27, 2025 was as follows:


							Weighted Average
							Remaining
		Number of		Weighted Average			Contractual Life
		Shares		Exercise Price			(years)			Intrinsic Value
Outstanding, December 28, 2024		319,844		$	203.89
Granted		24,232			402.64
Exercised		(29,750)			126.19
Forfeited		(1,165)			301.01
Outstanding, September 27, 2025		313,161		$	226.29		5.62		$	86,758,100
Exercisable, September 27, 2025		227,605		$	186.92		4.62		$	71,824,700

The fair value of options granted under the Option Plans during the first nine months of 2025 and 2024 were estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions and results:


		Nine Months Ended			Nine Months Ended
		September 27, 2025			September 28, 2024
Risk free interest rate			4.05	%		4.57	%
Expected life (years)			6.8			6.0
Expected volatility			29.31	%		29.33	%
Dividend yield			2.70	%		2.93	%
Option fair value		$	109.37		$	93.88

All unexercised options at September 27, 2025 have an exercise price equal to the fair market value on the date of the grant.

Compensation expense of $1,666,900 and $1,458,200 relating to the vested portion of the fair value of stock options granted was expensed to “Selling, General and Administrative Expenses” in the first nine months of 2025 and 2024, respectively. As of September 27, 2025, the Company had $5.4 million of total unrecognized compensation expense related to stock options that is expected to be recognized over the remaining weighted average vesting period of approximately 2.8 years.