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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Jan. 01, 2022
Jan. 02, 2021
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table

Pay Versus Performance

As required by Section 953(a) of the Dodd‐Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S‐K, we are providing the following information about the relationship between executive compensation actually paid and certain financial performance of the Company.

Pay Versus Performance Table

 

 

 

 

 

Year-end value of $100 invested on
12/28/2019 in:

 

 

Year

Summary
Compensation Table
Total for CEO(1)

$

Compensation
Actually Paid t
CEO (1)(2)(3)

$

Average Summary
Compensation
Table Total for
Non-CEO NEOs

$

Average
Compensation
Actually Paid to
Non-CEO NEOs

(2)(3)(4)

$

STKL

$

Compensation
Benchmarking Peer
Group (5)

$

Net Income

(Loss) (6)

(in millions)

$

Adj. EBITDA (6)

(in millions)

$

2024

6,137,477

8,260,600

1,309,836

1,433,893

313.65

104.05

(11.5)

88.7

2023

3,902,874

(2,637,097)

1,259,170

179,758

219.68

93.60

(25.2)

75.9

2022

7,772,493

10,848,150

1,540,234

2,464,977

338.96

82.53

(6.4)

82.1

2021

2,342,370

(3,036,263)

1,214,868

89,155

279.12

102.92

(1.2)

60.6

2020

2,679,692

33,746,240

1,396,512

4,841,175

468.67

117.14

82.4

58.7

(1) Our CEO was Brian Kocher for 2024 and Joseph Ennen for all other years in the table above.

(2) Deductions from, and additions to, total compensation in the Summary Compensation Table by year to calculate Compensation Actually Paid include:

      Kocher     Ennen  
      2024     2023     2022     2021     2020  
CEO   $     $     $     $     $  
Total Compensation from Summary Compensation Table   6,137,477     3,902,874     7,772,493     2,342,370     2,679,692  
                                 
Adjustments for Equity Awards                              
Adjustment for grant date values in the Summary Compensation Table   (4,824,787 )   (3,080,617 )   (6,907,249 )   (1,582,653 )   (874,998 )
Year-end fair value of unvested awards granted in the current year   6,947,910     1,462,402     10,816,607     280,412     3,733,536  
Year-over-year difference of year-end fair values for unvested awards granted in prior years   -     (3,206,878 )   926,983     (7,844,369 )   24,110,031  
Fair values at vest date for awards granted and vested in current year   -     -     -     -     -  
Difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years   -     (461,057 )   (1,760,683 )   3,767,977     4,097,979  
Forfeitures during current year equal to prior year-end fair value   -     (1,253,737 )   -     -     -  
Dividends or dividend equivalents not otherwise included in total compensation   -     -     -     -     -  
Total Adjustments for Equity Awards   2,123,123     (6,539,887 )   3,075,657     (5,378,633 )   31,066,548  
                                 
Adjustments for clawback values*   -     (39,083 )   -     -     -  
                               
Compensation Actually Paid (as calculated)   8,260,600     (2,676,097 )   10,848,150     (3,036,263 )   33,746,240  

 

      2024     2023     2022     2021     2020  
Average Non-CEO NEOs   $     $     $     $     $  
Total Compensation from Summary Compensation Table   1,309,836     1,259,170     1,540,234     1,214,868     1,396,512  
                                 
Adjustments for Equity Awards                              
Adjustment for grant date values in the Summary Compensation Table   (608,101 )   (606,833 )   (1,051,593 )   (760,053 )   (571,054 )
Year-end fair value of unvested awards granted in the current year   631,621     288,415     1,612,152     171,193     1,989,110  
Year-over-year difference of year-end fair values for unvested awards granted in prior years   135,519     (200,316 )   117,132     (831,535 )   1,696,965  
Fair values at vest date for awards granted and vested in current year   -     -     -     -     -  
Difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years   20,972     (103,621 )   249,776     294,681     329,642  
Forfeitures during current year equal to prior year-end fair value   (55,954 )   (451,996 )   -     -     -  
Dividends or dividend equivalents not otherwise included in total compensation   -     -     -     -     -  
Total Adjustments for Equity Awards   124,056     (1,074,352 )   927,467     (1,125,713 )   3,444,663  
                               
Adjustments for clawback values*   -     (5,061 )   (2,724 )   -     -  
                               
Compensation Actually Paid (as calculated)   1,433,893     179,758     2,464,977     89,155     4,841,175  

*For 2023 and 2022, Compensation Actually Paid was calculated to include the impact of the clawback value attributable to 2023 STIP and 2022 STIP to the extent this value has not already been adjusted in the Summary Compensation Table. The clawback values impacting this disclosure include:


Named Executive Officer

2023 Clawback Value

2022 Clawback Value

Joseph Ennen

$39,083

$28,904**

Scott Huckins

n/a

$13,072**

Greg Gaba

$4,828

n/a

Jill Barnett

$10,104

$7,463**

Chad Hagen

$7,014

n/a

Michael Buick

n/a

$10,896

Chris Whitehair

$8,420

$6,252**

**For those that earned above target on the 2022 STIP and received a portion of the award in cash, these recoupment values have already been reduced from the Non-Equity Incentive Plan Compensation column of our Summary Compensation Table and as such are not included in the table above detailing deductions from and additions to the Summary Compensation Table for purposes of calculating Compensation Actually Paid. See footnote 5 to our Summary Compensation Table and "Revision of Prior Period Financial Statements" above.

(3)  The following summarizes the valuation assumptions used for stock option awards included as part of Compensation Actually Paid:

- Expected life of each stock option is based on the "simplified method" using an average of the remaining vest and remaining term, as of the vest/FYE date

- Strike price is based on each grant date closing price and asset price is based on each vest/FYE closing price

- Risk free rate is based on the Treasury Constant Maturity rate closest to the remaining expected life as of the vest/FYE date

- Historical volatility is based on daily price history for each expected life (years) prior to each vest/FYE date.  Closing prices provided by S&P Capital IQ

(4)  Non-CEO NEOs reflect the average Summary Compensation Table total compensation and average Compensation Actually Paid for the following executives in the following years:

-2024: Greg Gaba, Jill Barnett, Chad Hagen, Justin Kobler, and Bryan Clark

-2023: Greg Gaba, Jill Barnett, Chris Whitehair, Chad Hagen, Michael Buick, and Scott Huckins

-2022, 2021, and 2020: Scott Huckins, Jill Barnett, Michael Buick, and Chris Whitehair

(5)  Reflects our peer group used for compensation benchmarking purposes in 2024 as discussed in the Compensation Discussion and Analysis. TSR for Whole Earth Brands, The Vita Coco Company, Vital Farms, BRC, and The Real Good Food Company is calculated using the date of their initial public offering on June 25, 2020, October 21, 2021, July 31, 2020, February 10, 2022, and November 5, 2021, respectively. TSR for Whole Earth Brands is calculated up to the date of their transaction on August 5, 2024. Had the peer group remained unchanged, TSR for 2024, 2023, 2022, 2021, and 2020 would have been $114.40, $100.24, $90.70, $113.78, and $131.46, respectively. Our prior peer group was comprised of the following companies: B&G Foods, BellRing Brands, Beyond Meat, Calavo Growers, Cal-Maine Foods, The Hain Celestial Group, J&J Snack Foods, John B. Sanfilippo & Son, Lancaster Colony, Seneca Foods, The Simply Good Foods Company, TreeHouse Foods, Utz Brands, and Vital Farms.

(6)  Values for net income (loss) and our most important metric for determining executive compensation, adjusted EBITDA, reflect revisions of prior period financial statements. For 2024 and 2023, net income (loss) and adjusted EBITDA reflect results from continuing operations only. Further, net loss and adjusted EBITDA figures for 2024 and 2023 reflect results from continuing operations only.

Financial Performance Measures

The most important financial performance measures used by the Company to link compensation actually paid to the Company's NEOs for the most recently completed fiscal year to the Company's performance are as follows:

  • Adjusted EBITDA
  • Total Shareholder Return
  • Peer Group Total Shareholder Return
  • Return on Invested Capital
  • Revenue Compound Annual Growth Rate

In accordance with SEC rules, the Company is providing the following illustrations of the relationships between information presented in the Pay Versus Performance table above.  Further information regarding our executive compensation program is provided above under the heading "Compensation Discussion and Analysis".

Relationship Between Pay and Performance

The charts shown below present a graphical comparison of compensation actually paid to our CEO and the average compensation actually paid ("CAP") to our other NEOs set forth in the Pay Versus Performance Table above, as compared against the following performance measures: our (1) TSR, (2) peer group TSR, (3) net income, and (4) Adjusted EBITDA.

formpre14ax017.jpg

formpre14ax018.jpg

formpre14ax019.jpg

       
Company Selected Measure Name Adj. EBITDA        
Named Executive Officers, Footnote Non-CEO NEOs reflect the average Summary Compensation Table total compensation and average Compensation Actually Paid for the following executives in the following years:

-2024: Greg Gaba, Jill Barnett, Chad Hagen, Justin Kobler, and Bryan Clark

-2023: Greg Gaba, Jill Barnett, Chris Whitehair, Chad Hagen, Michael Buick, and Scott Huckins

-2022, 2021, and 2020: Scott Huckins, Jill Barnett, Michael Buick, and Chris Whitehair

       
Peer Group Issuers, Footnote Reflects our peer group used for compensation benchmarking purposes in 2024 as discussed in the Compensation Discussion and Analysis. TSR for Whole Earth Brands, The Vita Coco Company, Vital Farms, BRC, and The Real Good Food Company is calculated using the date of their initial public offering on June 25, 2020, October 21, 2021, July 31, 2020, February 10, 2022, and November 5, 2021, respectively. TSR for Whole Earth Brands is calculated up to the date of their transaction on August 5, 2024. Had the peer group remained unchanged, TSR for 2024, 2023, 2022, 2021, and 2020 would have been $114.40, $100.24, $90.70, $113.78, and $131.46, respectively. Our prior peer group was comprised of the following companies: B&G Foods, BellRing Brands, Beyond Meat, Calavo Growers, Cal-Maine Foods, The Hain Celestial Group, J&J Snack Foods, John B. Sanfilippo & Son, Lancaster Colony, Seneca Foods, The Simply Good Foods Company, TreeHouse Foods, Utz Brands, and Vital Farms.        
PEO Total Compensation Amount $ 6,137,477 $ 3,902,874 $ 7,772,493 $ 2,342,370 $ 2,679,692
PEO Actually Paid Compensation Amount $ 8,260,600 (2,637,097) 10,848,150 (3,036,263) 33,746,240
Adjustment To PEO Compensation, Footnote
      Kocher     Ennen  
      2024     2023     2022     2021     2020  
CEO   $     $     $     $     $  
Total Compensation from Summary Compensation Table   6,137,477     3,902,874     7,772,493     2,342,370     2,679,692  
                                 
Adjustments for Equity Awards                              
Adjustment for grant date values in the Summary Compensation Table   (4,824,787 )   (3,080,617 )   (6,907,249 )   (1,582,653 )   (874,998 )
Year-end fair value of unvested awards granted in the current year   6,947,910     1,462,402     10,816,607     280,412     3,733,536  
Year-over-year difference of year-end fair values for unvested awards granted in prior years   -     (3,206,878 )   926,983     (7,844,369 )   24,110,031  
Fair values at vest date for awards granted and vested in current year   -     -     -     -     -  
Difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years   -     (461,057 )   (1,760,683 )   3,767,977     4,097,979  
Forfeitures during current year equal to prior year-end fair value   -     (1,253,737 )   -     -     -  
Dividends or dividend equivalents not otherwise included in total compensation   -     -     -     -     -  
Total Adjustments for Equity Awards   2,123,123     (6,539,887 )   3,075,657     (5,378,633 )   31,066,548  
                                 
Adjustments for clawback values*   -     (39,083 )   -     -     -  
                               
Compensation Actually Paid (as calculated)   8,260,600     (2,676,097 )   10,848,150     (3,036,263 )   33,746,240  
       
Non-PEO NEO Average Total Compensation Amount $ 1,309,836 1,259,170 1,540,234 1,214,868 1,396,512
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,433,893 179,758 2,464,977 89,155 4,841,175
Adjustment to Non-PEO NEO Compensation Footnote
      2024     2023     2022     2021     2020  
Average Non-CEO NEOs   $     $     $     $     $  
Total Compensation from Summary Compensation Table   1,309,836     1,259,170     1,540,234     1,214,868     1,396,512  
                                 
Adjustments for Equity Awards                              
Adjustment for grant date values in the Summary Compensation Table   (608,101 )   (606,833 )   (1,051,593 )   (760,053 )   (571,054 )
Year-end fair value of unvested awards granted in the current year   631,621     288,415     1,612,152     171,193     1,989,110  
Year-over-year difference of year-end fair values for unvested awards granted in prior years   135,519     (200,316 )   117,132     (831,535 )   1,696,965  
Fair values at vest date for awards granted and vested in current year   -     -     -     -     -  
Difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years   20,972     (103,621 )   249,776     294,681     329,642  
Forfeitures during current year equal to prior year-end fair value   (55,954 )   (451,996 )   -     -     -  
Dividends or dividend equivalents not otherwise included in total compensation   -     -     -     -     -  
Total Adjustments for Equity Awards   124,056     (1,074,352 )   927,467     (1,125,713 )   3,444,663  
                               
Adjustments for clawback values*   -     (5,061 )   (2,724 )   -     -  
                               
Compensation Actually Paid (as calculated)   1,433,893     179,758     2,464,977     89,155     4,841,175  
       
Equity Valuation Assumption Difference, Footnote The following summarizes the valuation assumptions used for stock option awards included as part of Compensation Actually Paid:

- Expected life of each stock option is based on the "simplified method" using an average of the remaining vest and remaining term, as of the vest/FYE date

- Strike price is based on each grant date closing price and asset price is based on each vest/FYE closing price

- Risk free rate is based on the Treasury Constant Maturity rate closest to the remaining expected life as of the vest/FYE date

- Historical volatility is based on daily price history for each expected life (years) prior to each vest/FYE date.  Closing prices provided by S&P Capital IQ

       
Compensation Actually Paid vs. Total Shareholder Return

formpre14ax017.jpg

       
Compensation Actually Paid vs. Net Income

formpre14ax018.jpg

       
Compensation Actually Paid vs. Company Selected Measure

formpre14ax019.jpg

       
Tabular List, Table

Financial Performance Measures

The most important financial performance measures used by the Company to link compensation actually paid to the Company's NEOs for the most recently completed fiscal year to the Company's performance are as follows:

  • Adjusted EBITDA
  • Total Shareholder Return
  • Peer Group Total Shareholder Return
  • Return on Invested Capital
  • Revenue Compound Annual Growth Rate
       
Total Shareholder Return Amount $ 313.65 219.68 338.96 279.12 468.67
Peer Group Total Shareholder Return Amount 104.05 93.6 82.53 102.92 117.14
Net Income (Loss) $ (11,500,000) $ (25,200,000) $ (6,400,000) $ (1,200,000) $ 82,400,000
Company Selected Measure Amount 88,700,000 75,900,000 82,100,000 60,600,000 58,700,000
Additional 402(v) Disclosure Values for net income (loss) and our most important metric for determining executive compensation, adjusted EBITDA, reflect revisions of prior period financial statements. For 2024 and 2023, net income (loss) and adjusted EBITDA reflect results from continuing operations only. Further, net loss and adjusted EBITDA figures for 2024 and 2023 reflect results from continuing operations only.        
Measure:: 1          
Pay vs Performance Disclosure          
Name Adjusted EBITDA        
Measure:: 2          
Pay vs Performance Disclosure          
Name Total Shareholder Return        
Measure:: 3          
Pay vs Performance Disclosure          
Name Peer Group Total Shareholder Return        
Measure:: 4          
Pay vs Performance Disclosure          
Name Return on Invested Capital        
Measure:: 5          
Pay vs Performance Disclosure          
Name Revenue Compound Annual Growth Rate        
Principal Executive Officer, Brian Kocher [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 6,137,477        
PEO Actually Paid Compensation Amount 8,260,600        
Adjustment to Compensation, Amount $ 2,123,123        
PEO Name Kocher        
Principal Executive Officer, Brian Kocher [Member] | Adjustment For Grant Date Values In Summary Compensation Table [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (4,824,787)        
Principal Executive Officer, Brian Kocher [Member] | Year End Fair Value Of Unvested Awards Granted In Current Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 6,947,910        
Principal Executive Officer, Brian Kocher [Member] | Year Over Year Difference Of Year End Fair Values For Unvested Awards Granted In Prior Years [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
Principal Executive Officer, Brian Kocher [Member] | Fair Values At Vest Date For Awards Granted And Vested In Current Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
Principal Executive Officer, Brian Kocher [Member] | Difference In Fair Values Between Prior Year End Fair Values And Vest Date Fair Values For Awards Granted In Prior Years [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
Principal Executive Officer, Brian Kocher [Member] | Forfeitures During Current Year Equal To Prior Year End Fair Value [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
Principal Executive Officer, Brian Kocher [Member] | Dividends Or Dividend Equivalents Not Otherwise Included In Total Compensation [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
Principal Executive Officer, Brian Kocher [Member] | Adjustments For Clawback Values [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 0        
Principal Executive Officer Joseph Ennen [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount   $ 3,902,874 $ 7,772,493 $ 2,342,370 $ 2,679,692
PEO Actually Paid Compensation Amount   (2,676,097) 10,848,150 (3,036,263) 33,746,240
Adjustment to Compensation, Amount   (6,539,887) 3,075,657 (5,378,633) 31,066,548
PEO Name Ennen        
Principal Executive Officer Joseph Ennen [Member] | Adjustment For Grant Date Values In Summary Compensation Table [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount   (3,080,617) (6,907,249) (1,582,653) (874,998)
Principal Executive Officer Joseph Ennen [Member] | Year End Fair Value Of Unvested Awards Granted In Current Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount   1,462,402 10,816,607 280,412 3,733,536
Principal Executive Officer Joseph Ennen [Member] | Year Over Year Difference Of Year End Fair Values For Unvested Awards Granted In Prior Years [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount   (3,206,878) 926,983 (7,844,369) 24,110,031
Principal Executive Officer Joseph Ennen [Member] | Fair Values At Vest Date For Awards Granted And Vested In Current Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount   0 0 0 0
Principal Executive Officer Joseph Ennen [Member] | Difference In Fair Values Between Prior Year End Fair Values And Vest Date Fair Values For Awards Granted In Prior Years [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount   (461,057) (1,760,683) 3,767,977 4,097,979
Principal Executive Officer Joseph Ennen [Member] | Forfeitures During Current Year Equal To Prior Year End Fair Value [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount   (1,253,737) 0 0 0
Principal Executive Officer Joseph Ennen [Member] | Dividends Or Dividend Equivalents Not Otherwise Included In Total Compensation [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount   0 0 0 0
Principal Executive Officer Joseph Ennen [Member] | Adjustments For Clawback Values [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount   (39,083) 0 0 0
Named Executive Officers Non Chief Executive Officer [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 1,309,836 1,259,170 1,540,234 1,214,868 1,396,512
PEO Actually Paid Compensation Amount 1,433,893 179,758 2,464,977 89,155 4,841,175
Adjustment to Compensation, Amount 124,056 (1,074,352) 927,467 (1,125,713) 3,444,663
Named Executive Officers Non Chief Executive Officer [Member] | Adjustment For Grant Date Values In Summary Compensation Table [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (608,101) (606,833) (1,051,593) (760,053) (571,054)
Named Executive Officers Non Chief Executive Officer [Member] | Year End Fair Value Of Unvested Awards Granted In Current Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 631,621 288,415 1,612,152 171,193 1,989,110
Named Executive Officers Non Chief Executive Officer [Member] | Year Over Year Difference Of Year End Fair Values For Unvested Awards Granted In Prior Years [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 135,519 (200,316) 117,132 (831,535) 1,696,965
Named Executive Officers Non Chief Executive Officer [Member] | Fair Values At Vest Date For Awards Granted And Vested In Current Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Named Executive Officers Non Chief Executive Officer [Member] | Difference In Fair Values Between Prior Year End Fair Values And Vest Date Fair Values For Awards Granted In Prior Years [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 20,972 (103,621) 249,776 294,681 329,642
Named Executive Officers Non Chief Executive Officer [Member] | Forfeitures During Current Year Equal To Prior Year End Fair Value [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (55,954) (451,996) 0 0 0
Named Executive Officers Non Chief Executive Officer [Member] | Dividends Or Dividend Equivalents Not Otherwise Included In Total Compensation [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Named Executive Officers Non Chief Executive Officer [Member] | Adjustments For Clawback Values [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 0 $ (5,061) $ (2,724) $ 0 $ 0