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Stock-based Compensation Plans (Tables)
9 Months Ended
Sep. 28, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of nonvested performance-based units and restricted stock units activity
The following table presents a summary of the Company’s performance-based share units (“PSUs”) and restricted stock units (“RSUs”) activity:
WEIGHTED AVERAGE GRANT DATE FAIR VALUE PER UNITAGGREGATE INTRINSIC VALUE (1)
(in thousands, except per unit data)PSUsRSUsPSUsRSUsPSUsRSUs
Outstanding as of December 29, 2024722 1,044 $27.42 $19.80 $8,860 $12,814 
Granted (2)312 1,190 $7.75 $7.34 
Performance adjustment (3)(229)— $26.10 $— 
Vested— (415)$— $21.17 
Forfeited(188)(198)$26.30 $19.13 
Outstanding as of September 28, 2025617 1,621 $18.32 $10.38 $4,468 $11,738 
Expected to vest as of September 28, 2025 (4)298 1,621 $2,154 $11,738 
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(1)Based on the $12.27 and $7.24 share price of the Company’s common stock on December 27, 2024 and September 26, 2025, the last trading day of the year ended December 29, 2024 and the thirty-nine weeks ended September 28, 2025, respectively.
(2)The weighted average dividend yield was 6.40% and 7.03% for PSUs and RSUs, respectively. For PSUs, a new performance structure was used for grants beginning in 2025. The new structure contains separate performance goals that are set at the beginning of each of the three annual performance periods and units earned based on performance will cliff vest after three years.
(3)Represents adjustment to 0% payout for PSUs granted during 2022.
(4)For PSUs, the estimated number of units to be issued upon the vesting of outstanding PSUs is based on Company performance projections of performance criteria set forth in the 2023, 2024 and 2025 PSU award agreements.
Schedule of unrecognized compensation cost, nonvested awards
The following represents unrecognized stock-based compensation expense and the remaining weighted average recognition period as of September 28, 2025:
UNRECOGNIZED COMPENSATION EXPENSE
(dollars in thousands)
REMAINING WEIGHTED AVERAGE RECOGNITION PERIOD (in years)
Performance-based share units$1,859 2.4
Restricted stock units$12,707 1.9