XML 35 R2.htm IDEA: XBRL DOCUMENT v3.25.0.1
Pay vs Performance Disclosure - USD ($)
4 Months Ended 12 Months Ended 56 Months Ended
Dec. 29, 2024
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Dec. 26, 2021
Dec. 27, 2020
Sep. 02, 2024
Pay vs Performance Disclosure              
Pay vs Performance Disclosure, Table  
Pay vs. Performance
The following table summarizes compensation paid to our principal executive officer (“PEO”) as set forth in our Summary Compensation Table, compensation actually paid to our PEO, average compensation paid to our Non-PEO NEOs as set forth in our Summary Compensation Table, and average compensation actually paid to our Non-PEO NEOs, each as calculated in accordance with SEC rules, and certain Company and peer group performance measures for the periods indicated:
Fiscal YearSummary Compensation Table Total for PEO (1)Compensation Actually Paid to PEO (2)Average Summary Compensation Table Total for Non-PEO NEOs (3)Average Compensation Actually Paid to Non-PEO NEOs (2)Value of Initial Fixed $100Net (Loss) Income
(dollars in millions)
Adjusted Diluted EPS (5)
Total Shareholder Return
Peer Group Total Shareholder Return (4)
1st PEO
2nd PEO
1st PEO
2nd PEO
2024$3,965,019 $6,339,020 $3,676,625 $(2,087,085)$1,523,663 $477,812 $64.15 $140.73 $(122.7)$1.79 
2023— 6,825,003 — 8,305,815 1,689,279 2,116,313 139.94 105.29 254.4 2.78 
2022— 6,251,632 — 5,068,922 1,561,981 1,339,269 100.18 86.17 109.2 2.36 
2021— 7,518,278 — 11,384,346 2,200,145 2,598,640 97.64 107.49 222.9 2.45 
2020— 5,576,984 — 6,261,185 1,945,655 1,701,174 88.32 95.69 (158.8)(0.69)
__________________
(1)Mr. Spanos (1st PEO) was appointed PEO effective September 3, 2024. Mr. Deno (2nd PEO) was the PEO from the beginning of 2020 through September 2, 2024.
(2)The charts below detail the additions to and deductions from the Summary Compensation Table Totals to calculate the Compensation Actually Paid amounts.
(3)The Non-PEO NEOs are comprised of: 2024 - Messrs. Healy, Berenstein, Graff, Meyer and Scarlett and Mses. Lefferts and Isaacs; 2023 - Messrs. Meyer, Scarlett and Patterson and Ms. Lefferts; 2022 - Messrs. Meyer, Scarlett and Murtha and Ms. Lefferts; 2021 - Messrs. Meyer, Scarlett, Murtha and Stutts and Ms. Lefferts; 2020 - Messrs. Meyer, Scarlett, Stutts and Herlihy and Ms. Lefferts.
(4)The peer group is made up of the same 25 companies in our peer group used for executive compensation benchmarking as described on page 54.
(5)Adjusted Diluted EPS was selected as the third metric to be included in the disclosure (as the Company-Selected Measure). A detailed Adjusted Diluted EPS reconciliation can be found within Appendix C. Adjusted Diluted EPS for the fiscal years 2023, 2022 and 2021 has been recast to remove the 5.1 million, 6.1 million and 10.0 million share benefit, respectively, of the convertible note hedge transactions which was previously included as a non-GAAP share adjustment.

The following table reconciles the PEO Summary Compensation Table total to Compensation Actually Paid for the periods indicated:
Fiscal YearSalaryBonus and Non-Equity Incentive CompensationEquity CompensationAll Other CompensationSummary Compensation Table TotalDeductions from Summary Compensation Table Total (1)Additions (Deductions) to Compensation Table Total (2)Compensation Actually Paid
1st PEO
2024$303,846 $158,846 $2,500,012 $1,002,315 $3,965,019 $(2,500,012)$2,211,618 $3,676,625 
2nd PEO
2024$1,000,000 $420,000 $4,900,017 $19,003 $6,339,020 $(4,900,017)$(3,526,088)$(2,087,085)
20231,000,000 910,500 4,900,025 14,478 6,825,003 (4,900,025)6,380,837 8,305,815 
2022984,615 897,969 4,350,033 19,015 6,251,632 (4,350,033)3,167,323 5,068,922 
2021900,000 2,011,500 4,600,046 6,732 7,518,278 (4,600,046)8,466,114 11,384,346 
2020695,597 1,271,700 3,600,036 9,651 5,576,984 (3,600,036)4,284,237 6,261,185 
__________________
(1)Represents the grant date fair value of equity-based awards granted each year.
(2)Reflects the value of equity calculated in accordance with the SEC methodology for determining Compensation Actually Paid for each period presented (as set forth in Item 402(v)(2)). The equity component of compensation actually paid for fiscal year 2024 is further detailed in the supplemental table below.
The following table reconciles the Non-PEO NEOs Average Summary Compensation Table total to Average Compensation Actually Paid for the periods indicated:
Fiscal YearAverage SalaryAverage Bonus and Non-Equity Incentive CompensationAverage Equity CompensationAverage All Other CompensationAverage Summary Compensation Table TotalDeductions from Summary Compensation Table Total (1)(Deductions) Additions to Compensation Table Total (2)Average Compensation Actually Paid
2024$386,648 $70,830 $650,027 $416,158 $1,523,663 $(650,027)$(395,824)$477,812 
2023570,096 353,867 759,407 5,909 1,689,279 (759,407)1,186,441 2,116,313 
2022550,000 338,580 667,219 6,182 1,561,981 (667,219)444,507 1,339,269 
2021536,539 640,700 697,157 325,749 2,200,145 (697,157)1,095,652 2,598,640 
2020410,300 360,564 865,989 308,802 1,945,655 (865,989)621,508 1,701,174 
__________________
(1)Represents the average grant date fair value of equity-based awards granted each year.
(2)Reflects the average value of equity calculated in accordance with the SEC methodology for determining average compensation actually paid for each period presented (as set forth in Item 402(v)(2)). The equity component of average compensation actually paid for fiscal year 2024 is further detailed in the supplemental table below.

The following table includes supplemental data for the additions and deductions resulting in the equity component of PEO Compensation Actually Paid for the periods indicated:
Fiscal YearAddition of Fair Value of Current Year Equity Awards at Fiscal Year End(Deductions) Additions for Change in Value of Prior Years’ Awards Unvested at Fiscal Year End (1)(Deductions) Additions for Change in Value of Prior Years’ Awards That Vested in Fiscal Year (1)Equity Value Included in Compensation Actually Paid
1st PEO
2nd PEO
1st PEO
2nd PEO
1st PEO
2nd PEO
1st PEO
2nd PEO
2024$2,211,618 $1,324,934 $— $(4,409,586)$— $(441,436)$2,211,618 $(3,526,088)
2023— 5,194,051 — (329,870)— 1,516,656 — 6,380,837 
2022— 3,910,236 — (1,252,356)— 509,443 — 3,167,323 
2021— 3,268,932 — 3,748,314 — 1,448,868 — 8,466,114 
2020— 3,298,873 — 1,895,458 — (910,094)— 4,284,237 
__________________
(1)The valuation for PSUs granted in 2023 and 2024, and vesting in 2026 and 2027, decreased from 100% at the end of 2023 to 0% and 50%, respectively, at the end of 2024. The valuation for PSUs granted in 2022 and vesting in 2025 decreased from 100% at the end of fiscal year 2022 to 0% at the end of fiscal year 2023. The valuation for PSUs granted in 2020 and vesting in 2023 decreased from 200% at the end of fiscal year 2021 to 148% at the end of fiscal year 2022.

The following table includes supplemental data for the additions and deductions resulting in equity component of Non-PEO NEOs Average Compensation Actually Paid for the periods indicated:
Fiscal YearAddition of Average Fair Value of Current Year Equity Awards at Fiscal Year End(Deductions) Additions for Average Change in Value of Prior Years’ Awards Unvested at Fiscal Year End (1)(Deductions) Additions for Average Change in Value of Prior Years’ Awards That Vested in Fiscal Year (1)Fair Value At End of Prior Fiscal Year of Awards Granted in Prior Years That Failed to Meet Vesting Conditions in the Fiscal YearAverage Equity Value Included in Compensation Actually Paid
2024$292,356 $(272,941)$(66,203)$(349,036)$(395,824)
2023821,094 (63,284)428,631 — 1,186,441 
2022599,763 (278,452)123,196 — 444,507 
2021422,722 364,276 308,654 — 1,095,652 
2020975,526 (57,273)(296,745)— 621,508 
__________________
(1)The valuation for PSUs granted in 2023 and 2024, and vesting in 2026 and 2027, decreased from 100% at the end of 2023 to 0% and 50%, respectively, at the end of 2024. The valuation for PSUs granted in 2022 and vesting in 2025 decreased from 100% at the end of fiscal year 2022 to 0% at the end of fiscal year 2023. The valuation for PSUs granted in 2020 and vesting in 2023 decreased from 200% at the end of fiscal year 2021 to 148% at the end of fiscal year 2022.
Relationship between Compensation Paid and Performance Measures
As shown in the charts as discussed further below, the relationship between the Compensation Actually Paid (“CAP”) to the PEO and the Average Compensation Actually Paid to the NEOs other than the PEO in fiscal 2020, 2021, 2022, 2023 and 2024 (collectively, “NEO Compensation Actually Paid”) to each of (1) Net income, (2) total shareholder return (“TSR”), and (3) Adjusted Diluted EPS demonstrates that such compensation fluctuates to the extent the Company is achieving its goals and increasing value for stockholders in line with the Company’s compensation philosophy and performance-based objectives.
         
Company Selected Measure Name   Adjusted Diluted EPS          
Named Executive Officers, Footnote   Mr. Deno (2nd PEO) was the PEO from the beginning of 2020 through September 2, 2024.
(2)The charts below detail the additions to and deductions from the Summary Compensation Table Totals to calculate the Compensation Actually Paid amounts.
(3)The Non-PEO NEOs are comprised of: 2024 - Messrs. Healy, Berenstein, Graff, Meyer and Scarlett and Mses. Lefferts and Isaacs; 2023 - Messrs. Meyer, Scarlett and Patterson and Ms. Lefferts; 2022 - Messrs. Meyer, Scarlett and Murtha and Ms. Lefferts; 2021 - Messrs. Meyer, Scarlett, Murtha and Stutts and Ms. Lefferts; 2020 - Messrs. Meyer, Scarlett, Stutts and Herlihy and Ms. Lefferts.
         
Adjustment To PEO Compensation, Footnote  
The following table reconciles the PEO Summary Compensation Table total to Compensation Actually Paid for the periods indicated:
Fiscal YearSalaryBonus and Non-Equity Incentive CompensationEquity CompensationAll Other CompensationSummary Compensation Table TotalDeductions from Summary Compensation Table Total (1)Additions (Deductions) to Compensation Table Total (2)Compensation Actually Paid
1st PEO
2024$303,846 $158,846 $2,500,012 $1,002,315 $3,965,019 $(2,500,012)$2,211,618 $3,676,625 
2nd PEO
2024$1,000,000 $420,000 $4,900,017 $19,003 $6,339,020 $(4,900,017)$(3,526,088)$(2,087,085)
20231,000,000 910,500 4,900,025 14,478 6,825,003 (4,900,025)6,380,837 8,305,815 
2022984,615 897,969 4,350,033 19,015 6,251,632 (4,350,033)3,167,323 5,068,922 
2021900,000 2,011,500 4,600,046 6,732 7,518,278 (4,600,046)8,466,114 11,384,346 
2020695,597 1,271,700 3,600,036 9,651 5,576,984 (3,600,036)4,284,237 6,261,185 
__________________
(1)Represents the grant date fair value of equity-based awards granted each year.
(2)Reflects the value of equity calculated in accordance with the SEC methodology for determining Compensation Actually Paid for each period presented (as set forth in Item 402(v)(2)). The equity component of compensation actually paid for fiscal year 2024 is further detailed in the supplemental table below.
         
Non-PEO NEO Average Total Compensation Amount [1]   $ 1,523,663 $ 1,689,279 $ 1,561,981 $ 2,200,145 $ 1,945,655  
Non-PEO NEO Average Compensation Actually Paid Amount [2]   $ 477,812 2,116,313 1,339,269 2,598,640 1,701,174  
Adjustment to Non-PEO NEO Compensation Footnote  
The following table reconciles the Non-PEO NEOs Average Summary Compensation Table total to Average Compensation Actually Paid for the periods indicated:
Fiscal YearAverage SalaryAverage Bonus and Non-Equity Incentive CompensationAverage Equity CompensationAverage All Other CompensationAverage Summary Compensation Table TotalDeductions from Summary Compensation Table Total (1)(Deductions) Additions to Compensation Table Total (2)Average Compensation Actually Paid
2024$386,648 $70,830 $650,027 $416,158 $1,523,663 $(650,027)$(395,824)$477,812 
2023570,096 353,867 759,407 5,909 1,689,279 (759,407)1,186,441 2,116,313 
2022550,000 338,580 667,219 6,182 1,561,981 (667,219)444,507 1,339,269 
2021536,539 640,700 697,157 325,749 2,200,145 (697,157)1,095,652 2,598,640 
2020410,300 360,564 865,989 308,802 1,945,655 (865,989)621,508 1,701,174 
__________________
(1)Represents the average grant date fair value of equity-based awards granted each year.
(2)Reflects the average value of equity calculated in accordance with the SEC methodology for determining average compensation actually paid for each period presented (as set forth in Item 402(v)(2)). The equity component of average compensation actually paid for fiscal year 2024 is further detailed in the supplemental table below.
         
Compensation Actually Paid vs. Total Shareholder Return  
6
         
Compensation Actually Paid vs. Net Income  
4
         
Compensation Actually Paid vs. Company Selected Measure  
8
         
Tabular List, Table  
1.Adjusted Diluted Earnings Per Share
2.Revenue
3.Adjusted Operating Income
         
Total Shareholder Return Amount   $ 64.15 139.94 100.18 97.64 88.32  
Peer Group Total Shareholder Return Amount [3]   140.73 105.29 86.17 107.49 95.69  
Net Income (Loss)   $ (122,700,000) $ 254,400,000 $ 109,200,000 $ 222,900,000 $ (158,800,000)  
Company Selected Measure Amount [4]   1.79 2.78 2.36 2.45 (0.69)  
PEO Name Mr. Spanos           Mr. Deno
PSU Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage, Granted in 2023   0.00% 100.00%        
PSU Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage, Granted in 2024   50.00%          
PSU Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage, Granted in 2022     0.00% 100.00%      
PSU Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage, Granted in 2020       148.00% 200.00%    
Measure:: 1              
Pay vs Performance Disclosure              
Name   Adjusted Diluted Earnings Per Share          
Measure:: 2              
Pay vs Performance Disclosure              
Name   Revenue          
Measure:: 3              
Pay vs Performance Disclosure              
Name   Adjusted Operating Income          
Spanos [Member]              
Pay vs Performance Disclosure              
PEO Total Compensation Amount [5]   $ 3,965,019 $ 0 $ 0 $ 0 $ 0  
PEO Actually Paid Compensation Amount [2]   3,676,625 0 0 0 0  
Deno [Member]              
Pay vs Performance Disclosure              
PEO Total Compensation Amount [5]   6,339,020 6,825,003 6,251,632 7,518,278 5,576,984  
PEO Actually Paid Compensation Amount [2]   $ (2,087,085) 8,305,815 5,068,922 11,384,346 6,261,185  
PEO | Spanos [Member]              
Pay vs Performance Disclosure              
Salary   303,846          
Bonus and Non-Equity Incentive Compensation   158,846          
Equity Compensation   2,500,012          
Other Compensation   1,002,315          
PEO | Spanos [Member] | Adjustment Type 1 [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount [6]   $ (2,500,012)          
PEO | Spanos [Member] | Adjustment Type 2 [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount   2,211,618 [7] 0 0 0 0  
PEO | Spanos [Member] | Addition of Fair Value of Current Year Equity Awards at Fiscal Year End [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation Amount for Equity Value   2,211,618 0 0 0 0  
PEO | Spanos [Member] | Additions (Deductions) for Change in Value of Prior Years' Awards Unvested at Fiscal Year End [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation Amount for Equity Value [8]   0 0 0 0 0  
PEO | Spanos [Member] | Additions (Deductions) for Change in Value of Prior Years' Awards That Vested in Fiscal Year [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation Amount for Equity Value [8]   $ 0 $ 0 $ 0 $ 0 $ 0  
PEO | Deno [Member]              
Pay vs Performance Disclosure              
Salary   1,000,000 1,000,000 984,615 900,000 695,597  
Bonus and Non-Equity Incentive Compensation   420,000 910,500 897,969 2,011,500 1,271,700  
Equity Compensation   4,900,017 4,900,025 4,350,033 4,600,046 3,600,036  
Other Compensation   19,003 14,478 19,015 6,732 9,651  
PEO | Deno [Member] | Adjustment Type 1 [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount [6]   $ (4,900,017) $ (4,900,025) $ (4,350,033) $ (4,600,046) $ (3,600,036)  
PEO | Deno [Member] | Adjustment Type 2 [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount [7]   (3,526,088) 6,380,837 3,167,323 8,466,114 4,284,237  
PEO | Deno [Member] | Addition of Fair Value of Current Year Equity Awards at Fiscal Year End [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation Amount for Equity Value   1,324,934 5,194,051 3,910,236 3,268,932 3,298,873  
PEO | Deno [Member] | Additions (Deductions) for Change in Value of Prior Years' Awards Unvested at Fiscal Year End [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation Amount for Equity Value [8]   (4,409,586) (329,870) (1,252,356) 3,748,314 1,895,458  
PEO | Deno [Member] | Additions (Deductions) for Change in Value of Prior Years' Awards That Vested in Fiscal Year [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation Amount for Equity Value [8]   $ (441,436) $ 1,516,656 $ 509,443 $ 1,448,868 $ (910,094)  
Non-PEO NEO              
Pay vs Performance Disclosure              
Average Salary   386,648 570,096 550,000 536,539 410,300  
Average Bonus and Non-Equity Incentive Compensation   70,830 353,867 338,580 640,700 360,564  
Average Equity Compensation   650,027 759,407 667,219 697,157 865,989  
Average Other Compensation   416,158 5,909 6,182 325,749 308,802  
Non-PEO NEO | Adjustment Type 1 [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount [9]   $ (650,027) $ (759,407) $ (667,219) $ (697,157) $ (865,989)  
Non-PEO NEO | Adjustment Type 2 [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount [10]   (395,824) 1,186,441 444,507 1,095,652 621,508  
Non-PEO NEO | Adjustment Type 3 [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount   292,356 821,094 599,763 422,722 975,526  
Non-PEO NEO | Adjustment Type 4 [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount [11]   (272,941) (63,284) (278,452) 364,276 (57,273)  
Non-PEO NEO | Adjustment Type 5 [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount   (66,203) 428,631 123,196 308,654 (296,745)  
Non-PEO NEO | Adjustment Type 6 [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount   $ (349,036) $ 0 $ 0 $ 0 $ 0  
[1] The Non-PEO NEOs are comprised of: 2024 - Messrs. Healy, Berenstein, Graff, Meyer and Scarlett and Mses. Lefferts and Isaacs; 2023 - Messrs. Meyer, Scarlett and Patterson and Ms. Lefferts; 2022 - Messrs. Meyer, Scarlett and Murtha and Ms. Lefferts; 2021 - Messrs. Meyer, Scarlett, Murtha and Stutts and Ms. Lefferts; 2020 - Messrs. Meyer, Scarlett, Stutts and Herlihy and Ms. Lefferts.
[2] The charts below detail the additions to and deductions from the Summary Compensation Table Totals to calculate the Compensation Actually Paid amounts.
[3] The peer group is made up of the same 25 companies in our peer group used for executive compensation benchmarking as described on page 54.
[4] Adjusted Diluted EPS was selected as the third metric to be included in the disclosure (as the Company-Selected Measure). A detailed Adjusted Diluted EPS reconciliation can be found within Appendix C. Adjusted Diluted EPS for the fiscal years 2023, 2022 and 2021 has been recast to remove the 5.1 million, 6.1 million and 10.0 million share benefit, respectively, of the convertible note hedge transactions which was previously included as a non-GAAP share adjustment.
[5] Mr. Spanos (1st PEO) was appointed PEO effective September 3, 2024. Mr. Deno (2nd PEO) was the PEO from the beginning of 2020 through September 2, 2024.
[6] Represents the grant date fair value of equity-based awards granted each year.
[7] Reflects the value of equity calculated in accordance with the SEC methodology for determining Compensation Actually Paid for each period presented (as set forth in Item 402(v)(2)). The equity component of compensation actually paid for fiscal year 2024 is further detailed in the supplemental table below.
[8] The valuation for PSUs granted in 2023 and 2024, and vesting in 2026 and 2027, decreased from 100% at the end of 2023 to 0% and 50%, respectively, at the end of 2024. The valuation for PSUs granted in 2022 and vesting in 2025 decreased from 100% at the end of fiscal year 2022 to 0% at the end of fiscal year 2023. The valuation for PSUs granted in 2020 and vesting in 2023 decreased from 200% at the end of fiscal year 2021 to 148% at the end of fiscal year 2022.
[9] Represents the average grant date fair value of equity-based awards granted each year.
[10] Reflects the average value of equity calculated in accordance with the SEC methodology for determining average compensation actually paid for each period presented (as set forth in Item 402(v)(2)). The equity component of average compensation actually paid for fiscal year 2024 is further detailed in the supplemental table below.
[11] The valuation for PSUs granted in 2023 and 2024, and vesting in 2026 and 2027, decreased from 100% at the end of 2023 to 0% and 50%, respectively, at the end of 2024. The valuation for PSUs granted in 2022 and vesting in 2025 decreased from 100% at the end of fiscal year 2022 to 0% at the end of fiscal year 2023. The valuation for PSUs granted in 2020 and vesting in 2023 decreased from 200% at the end of fiscal year 2021 to 148% at the end of fiscal year 2022.