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STOCK-BASED COMPENSATION | 6 Months Ended
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Jun. 29, 2024
Share-Based Payment Arrangement [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION The Company recorded stock-based compensation expense as follows:
| Fiscal quarter ended |  | Two fiscal quarters ended
(dollars in thousands) | June 29, 2024 |  | July 1, 2023 |  | June 29, 2024 |  | July 1, 2023
Restricted stock: |  |  |  |  |  |  |
Time-based awards | $ | 3,670 |  |  | $ | 4,183 |  |  | $ | 8,431 |  |  | $ | 8,545 |
Performance-based awards | (1,379) |  |  | 908 |  |  | (1,048) |  |  | 889 |
Market-based awards | 229 |  |  | — |  |  | 307 |  |  | — |
Stock awards | 1,600 |  |  | 1,550 |  |  | 1,600 |  |  | 1,550 |
Total | $ | 4,120 |  |  | $ | 6,641 |  |  | $ | 9,290 |  |  | $ | 10,984 |
The Company recognizes compensation cost ratably over the applicable performance periods based on the estimated probability of achievement of its performance targets at the end of each period. During the second quarter of fiscal 2024, the achievement of performance target estimates related to certain performance-based grants were revised resulting in a reversal of $1.9 million of previously recognized stock-based compensation expense.

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