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Equity and Stock-Based Compensation
 9 Months Ended
Sep. 28, 2025
Share-Based Payment Arrangement [Abstract]  
Equity and Stock-Based Compensation Equity and Stock-Based Compensation
Stock option awards
There were no stock option awards granted during the thirty-nine weeks ended September 28, 2025. A summary of stock option activity during the thirty-nine weeks ended September 28, 2025 was as follows:
NUMBER OF OPTIONSWEIGHTED AVERAGE
EXERCISE PRICE PER SHARE
AGGREGATE INTRINSIC VALUE
(in thousands)
WEIGHTED AVERAGE
REMAINING CONTRACTUAL LIFE
(in years)
Outstanding, December 29, 2024
3,701,017 $10.14 $31,676 4.1
Forfeited(964)$12.58 
Exercised(30,959)$9.79 
Outstanding, September 28, 2025
3,669,094 $10.14 $21,512 3.4
Exercisable, September 28, 2025
3,659,622 $10.14 $21,480 3.4
The aggregate intrinsic value is based on the difference between the exercise price of the stock option and the closing price of the Company’s common stock on Nasdaq on the last trading day of the period.
A summary of the non-vested stock option activity during the thirty-nine weeks ended September 28, 2025 is as follows:
NUMBER OF OPTIONSWEIGHTED AVERAGE GRANT DATE FAIR VALUE PER SHARE
Nonvested, December 29, 2024
324,245 $6.55 
Forfeited(963)$6.76 
Vested (313,810)$6.66 
Nonvested, September 28, 2025
9,472 $2.88 
Restricted stock units
During the thirty-nine weeks ended September 28, 2025, a total of 1,028,509 restricted stock units (“RSUs”) were granted. Of the total RSUs granted, 597,737 will vest ratably over a period of three years from grant date, 65,364 will vest one year from the grant date, and the remaining 365,408 will vest four years from the grant date. A summary of the Company’s RSU activity during the thirty-nine weeks ended September 28, 2025 is as follows:
RESTRICTED STOCK UNITSWEIGHTED AVERAGE GRANT DATE FAIR VALUE PER SHAREAGGREGATE INTRINSIC VALUE
(in thousands)
Outstanding, December 29, 2024
759,721 $20.67 $14,207 
Granted 1,028,509 $16.75 
Forfeited(8,846)$19.95 
Vested (301,056)$19.36 
Outstanding, September 28, 2025
1,478,328 $18.22 $23,653 
The aggregate intrinsic value is based on the closing price of the Company’s common stock on Nasdaq of $16.00 and $18.70 on September 26, 2025 and December 27, 2024, the last trading days of the periods, respectively.
Stock-based compensation expense, net of amounts capitalized, was $2.9 million and $2.1 million during the thirteen weeks ended September 28, 2025 and September 29, 2024, respectively, and $7.9 million and $6.4 million during the thirty-nine weeks ended September 28, 2025 and September 29, 2024, respectively. Capitalized stock-based compensation included in property, fixtures and equipment totaled $0.1 million for the thirty-nine weeks ended September 28, 2025. The total related income tax benefit for stock-based compensation expense was $0.1 million during the thirteen weeks ended September 28, 2025 and September 29, 2024, respectively, and $1.3 million and $1.6 million during the thirty-nine weeks ended September 28, 2025 and September 29, 2024, respectively.
Unrecognized stock-based compensation expense
The following represents unrecognized stock-based compensation expense and the remaining weighted average vesting period as of September 28, 2025:
UNRECOGNIZED STOCK-BASED COMPENSATION EXPENSE
(in thousands)
REMAINING WEIGHTED AVERAGE
VESTING PERIOD
(in years)
Stock options$1 0.2
Restricted stock units $20,160 2.2