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Strategic Corporate Reorganization for Long-term Growth | 9 Months Ended
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Sep. 26, 2021
Strategic Corporate Reorganization for Long-term Growth |
Strategic Corporate Reorganization for Long-term Growth | 10. Strategic Corporate Reorganization for Long-term Growth ​ On September 17, 2020, we announced plans to open an office in Atlanta, Georgia located in Three Ballpark Center at The Battery Atlanta. The space is designed to drive continued menu innovation and optimize integration across marketing, communications, customer experience, operations, human resources, diversity, equity and inclusion, financial planning and analysis, investor relations and development functions. Our information technology, finance, supply chain, and legal teams will continue to operate in our Louisville, Kentucky office, which remains critical to our success. We also maintain an office outside of London, United Kingdom, where our international operations are managed. All affected employees were either offered an opportunity to continue with the organization or were offered a severance package. As a result, we expect to incur certain one-time corporate reorganization costs of approximately $17.0 to $20.0 million related to employee severance and transition, recruitment and relocation, and third party and other costs through 2021. Of these costs, we have cumulatively incurred approximately $15.3 million through September 26, 2021 which include $8.3 million of employee severance and other employee transition costs, $4.0 million of recruiting and professional fees, $2.9 million of relocation costs, and $1.0 million of other costs, offset by ($0.9) million of stock-based compensation forfeitures on unvested awards. ​ We record severance as a one-time termination benefit and recognize the expense ratably over the employees’ required future service period. All other costs, including employee transition costs, recruitment and relocation costs, and third-party costs, are recognized in the period incurred. All strategic corporate reorganization costs have been recorded in General and administrative expenses on the Condensed Consolidated Statement of Operations. ​ As of September 26, 2021 and December 27, 2020, the estimate of incurred but unpaid strategic corporate reorganization costs are included in Accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheets. The following table summarizes the activity for the nine months ended September 26, 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Balance at | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Balance at
​ | December 27, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | September 26,
​ | 2020 | ​ | Charges | ​ | Payments | ​ | 2021
Employee severance and other employee transition costs | $ | 4,615 | ​ | $ | 3,576 | ​ | $ | (7,235) | ​ | $ | 956
Recruiting and professional fees | ​ | 145 | ​ | ​ | 2,431 | ​ | ​ | (2,576) | ​ | ​ | —
Relocation costs | ​ | 101 | ​ | ​ | 2,608 | ​ | ​ | (1,677) | ​ | ​ | 1,032
Other costs | ​ | — | ​ | ​ | 749 | ​ | ​ | (749) | ​ | ​ | —
Total strategic corporate reorganization liability | $ | 4,861 | ​ | $ | 9,364 | ​ | $ | (12,237) | ​ | $ | 1,988
​ We expect to recognize additional costs associated with the corporate reorganization in the remainder of 2021 of approximately $2.0 to $5.0 million.

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