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Equity and Stock-Based Compensation
 3 Months Ended
Mar. 29, 2026
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 thirteen weeks ended March 29, 2026. A summary of stock option activity during the thirteen weeks ended March 29, 2026 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 28, 2025
3,577,374 $10.15 $20,614 3.2
Exercised(9,051)$9.77 
Outstanding, March 29, 2026
3,568,323 $10.16 $3,993 2.8
Exercisable, March 29, 2026
3,568,323 $10.16 $3,993 2.8
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 the Nasdaq Global Select Market on the last trading day of the period.
A summary of the non-vested stock option activity during the thirteen weeks ended March 29, 2026 is as follows:
NUMBER OF OPTIONSWEIGHTED AVERAGE GRANT DATE FAIR VALUE PER SHARE
Nonvested, December 28, 2025
3,946 $5.22 
Vested (3,946)$5.22 
Nonvested, March 29, 2026
— $— 
Restricted stock units
During the thirteen weeks ended March 29, 2026, a total of 1,005,581 restricted stock units (“RSUs”) were granted. Of these RSUs, 896,026 will vest ratably over a period of three years, with one-third vesting on each anniversary of the grant date; 9,302 will vest in full one year from the grant date; and 94,636 will vest in full three years from the grant date. Of the remaining 5,617 RSUs, 25% of such RSUs will vest one year from the grant date, 25% will vest two years from the grant date and 50% will vest three years from the grant date.
A summary of the Company’s RSU activity during the thirteen weeks ended March 29, 2026 is as follows:
RESTRICTED STOCK UNITSWEIGHTED AVERAGE GRANT DATE FAIR VALUE PER SHAREAGGREGATE INTRINSIC VALUE
(in thousands)
Outstanding, December 28, 2025
2,010,917 $17.60 $31,994 
Granted 1,005,581 $12.48 
Forfeited(79,553)$16.09 
Vested (484,126)$18.61 
Outstanding, March 29, 2026
2,452,819 $15.35 $25,289 
The aggregate intrinsic value is based on the closing price of the Company’s common stock on Nasdaq of $10.31 and $15.91 on March 27, 2026 and December 26, 2025, the last trading days of the periods, respectively.
Stock-based compensation expense, net of amounts capitalized, was $3.4 million and $2.3 million during the thirteen weeks ended March 29, 2026 and March 30, 2025, respectively. Capitalized stock-based compensation included in property, fixtures and equipment totaled $0.1 million for the thirteen weeks ended March 29, 2026.
Unrecognized stock-based compensation expense
The following represents unrecognized stock-based compensation expense and the remaining weighted average vesting period as of March 29, 2026:
UNRECOGNIZED STOCK-BASED COMPENSATION EXPENSE
(in thousands)
REMAINING WEIGHTED AVERAGE
RECOGNITION PERIOD
(in years)
Restricted stock units $33,737 2.8
As of March 29, 2026, all stock options were fully vested and there were no unvested stock options outstanding.