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STOCK - BASED COMPENSATION (Tables) | 9 Months Ended
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Sep. 29, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Option Activity | The following table summarizes the Company’s stock option activity for the thirty-nine weeks ended September 29, 2024 and September 24, 2023:
(dollar amounts in thousands except per share amounts) | Number of Shares |  | Weighted Average Exercise Price Per Share |  | Weighted-Average Remaining Contractual Term (In Years) |  | Aggregate Intrinsic Value
Balance—December 31, 2023 | 13,219,388 |  | $ | 7.77 |  |  | 5.97 |  | $ | 53,758 |
Options granted | 2,256,183 |  | 19.02 |  |  |  |  |
Options exercised | (1,507,226) |  | 6.44 |  |  |  |  |
Options forfeited | (316,223) |  | 14.81 |  |  |  |  |
Options expired | (44,574) |  | 18.16 |  |  |  |  |
Balance—September 29, 2024 | 13,607,548 |  | $ | 9.59 |  |  | 6.16 |  | $ | 358,760 |
Exercisable—September 29, 2024 | 10,041,326 |  | $ | 7.46 |  |  | 5.20 |  | $ | 286,048 |
Vested and expected to vest—September 29, 2024 | 13,607,548 |  | $ | 9.59 |  |  | 6.16 |  | $ | 358,760 |
(dollar amounts in thousands except per share amounts) | Number of Shares |  | Weighted Average Exercise Price Per Share |  | Weighted-Average Remaining Contractual Term (In Years) |  | Aggregate Intrinsic Value
Balance—December 25, 2022 | 13,813,922 |  | $ | 7.86 |  |  | 6.63 |  | $ | 34,454 |
Options granted | 1,368,894 |  | 8.38 |  |  |  |  |
Options exercised | (888,309) |  | 5.75 |  |  |  |  |
Options forfeited | (679,474) |  | 11.12 |  |  |  |  |
Options expired | (143,397) |  | 10.77 |  |  |  |  |
Balance—September 24, 2023 | 13,471,636 |  | $ | 7.85 |  |  | 6.42 |  | $ | 56,433 |
Exercisable—September 24, 2023 | 9,915,352 |  | $ | 6.64 |  |  | 5.64 |  | $ | 50,906 |
Vested and expected to vest—September 24, 2023 | 13,471,636 |  | $ | 7.85 |  |  | 6.42 |  | $ | 56,433 |
Summary of Restricted Stock Units Activity | The following table summarizes the Company’s RSU activity for the thirty-nine weeks ended September 29, 2024 and September 24, 2023:
(dollar amounts in thousands except per share amounts) | Number of Shares |  | Weighted-Average Grant Date Fair Value
Balance—December 31, 2023 | 951,517 |  |  | $ | 17.41 |
Granted | 518,177 |  |  | 20.36 |
Released | (369,355) |  |  | 20.63 |
Forfeited | (84,042) |  |  | 18.46 |
Balance—September 29, 2024 | 1,016,297 |  |  | 17.67 |
(dollar amounts in thousands except per share amounts) | Number of Shares |  | Weighted-Average Grant Date Fair Value
Balance—December 25, 2022 | 1,780,681 |  |  | $ | 23.40 |
Granted | 398,043 |  |  | 8.97 |
Released | (407,139) |  |  | 21.45 |
Forfeited | (483,701) |  |  | 21.79 |
Balance—September 24, 2023 | 1,287,884 |  |  | $ | 18.77 |
Summary of Stock-based Compensation Expense | A summary of stock-based compensation expense recognized during the thirteen and thirty-nine weeks ended September 29, 2024 and September 24, 2023 is as follows:
| Thirteen weeks ended |  | Thirty-nine weeks ended
(dollar amounts in thousands) | September 29, 2024 |  | September 24, 2023 |  | September 29, 2024 |  | September 24, 2023
Stock-options | $ | 3,107 |  |  | $ | 2,140 |  |  | $ | 8,401 |  |  | $ | 6,716 |
Restricted stock units | 1,909 |  |  | 2,432 |  |  | 6,645 |  |  | 8,426 |
Performance stock units | 4,669 |  |  | 6,894 |  |  | 15,168 |  |  | 24,991 |
Total stock-based compensation | $ | 9,685 |  |  | $ | 11,466 |  |  | $ | 30,214 |  |  | $ | 40,133 |
Schedule of Nonvested Performance-Based Units Activity | The following table summarizes the Company’s PSU activity for the thirty-nine weeks ended September 29, 2024:
(dollar amounts in thousands except per share amounts) | Number of Shares |  | Weighted-Average Grant Date Fair Value
Balance—December 31, 2023 | 6,621,428 |  |  | $ | 15.56 |
Granted | — |  |  | — |
Released | (900,000) |  |  | 18.55 |
Forfeited | (321,428) |  |  | — |
Balance—September 29, 2024 | 5,400,000 |  |  | $ | 15.99 |

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