Total share-based compensation included in net income for the years ended December 29, 2023, December 30, 2022, and December 31, 2021 is as follows:


	Year Ended
	December 29,		December 30,		December 31,
	2023		2022		2021
Restricted stock units	$	10,714	$	10,252	$	9,716
Common stock subject to vesting requirements		10		15		406
	$	10,724	$	10,267	$	10,122

The number of shares available for future issuance under the Company's stock plans as of December 29, 2023 were 2.3 million. The Company issues new shares as they are required to be delivered under the plan.

The Company has granted stock options to employees and directors of the Company at exercise prices equal to the fair value of the stock at the date of grant. The options generally vested ratably over four years, based on continued employment, with a maximum term of ten years. The Company did not have any stock options outstanding during 2023. Stock option activity under the Company’s stock option plans for the years ended December 30, 2022 and December 31, 2021, are summarized as follows:


	December 30, 2022					December 31, 2021
	Option Shares			Weighted Average Exercise Price		Option Shares			Weighted Average Exercise Price
Outstanding at beginning of year		30,000		$	4.00		180,000		$	4.00
Exercised		(30,000	)		4.00		(150,000	)		4.00
Outstanding at end of year		—		$	-		30,000		$	4.00
Exercisable at end of year		—		$	-		30,000		$	4.00

The intrinsic value of the options that were exercised in 2022 and 2021 was $0.6 million and $2.4 million, respectively.

All of the Company's outstanding SARs were exercised in December 2021. As a result of the tax deduction related to the exercise of the 2.9 million SARs in 2021, the Company had recorded an income tax benefit of $7.7 million, which resulted in a receivable balance of $3.4 million in prepaid expenses and other current assets on the consolidated balance sheet as of December 31, 2021. The intrinsic value of the SARs that were exercised in 2021 was $46.1 million.

Under the Company stock plan, participants may be granted restricted stock units, each of which represents a conditional right to receive a common share in the future. The restricted stock units granted under this plan generally vest over one of the following vesting schedules: (1) a four -year period, with 50% vesting on the second anniversary and 25% of the shares vesting on the third and fourth anniversaries of the grant date, (2) a four -year period, with 25% vesting on the first, second, third and fourth anniversary, (3) a three -year period with 33% vesting on the first, second and third anniversary, or (4) a one-year period with 100% vest on the first anniversary. Upon vesting, the restricted stock units will convert into an equivalent number of shares of common stock. The amount of expense relating to the restricted stock units is based on the closing market price of the Company’s common stock on the date of grant and is amortized on a straight-line basis over the applicable requisite service period. Restricted stock unit activity for the year ended December 29, 2023, was as follows:


	Number of Restricted Stock Units			Weighted Average Grant-Date Fair Value
Nonvested balance as of December 30, 2022		1,212,902			17.85
Granted		590,286			21.40
Vested		(562,945	)		17.34
Forfeited		(35,461	)		18.91
Nonvested balance as of December 29, 2023		1,204,782		$	19.82

The Company recorded restricted stock units-based compensation expense of $10.7 million, $10.3 million and $9.7 million in 2023, 2022, and 2021 respectively, which is included in stock compensation expense, based on the vesting provisions of the restricted stock units and the fair value of the stock on the grant date. As of December 29, 2023, there was $12.1 million of total restricted stock unit compensation expense related to the unvested awards not yet recognized, which is expected to be recognized over a weighted average period of 2.1 years. The Company accounts for certain restricted stock units under liability accounting as a result of the fixed monetary amount and a variable number of shares that will be issued.

Shares of common stock subject to vesting requirements were issued to certain employees of a 2017 acquisition. These shares vested over a period of four years. Compensation expense was based on the fair value of the Company’s common stock at the time of grant and is recognized on a straight-line basis. As of December 30, 2022, the Company had 1,318 of these shares outstanding at a grant date fair value of $16.17. These shares vested in the fourth quarter of 2023 and no shares of common stock subject to vesting requirements are outstanding as of December 29, 2023.

The Company recorded compensation expense of $10 thousand, $15 thousand and $0.4 million in 2023, 2022 and 2021, respectively, related to common stock subject to vesting requirements.