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Stock Based Compensation (Tables) | 9 Months Ended
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Sep. 27, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Price Appreciation Equity Program Awards | The following tables summarize information about the Company’s stock price appreciation equity program awards described above:
Award Summary
Tranche |  | Grant Date Fair Value |  |  | Share Price Vesting Conditions* |  | Underlying Share # |  |  | Contractual Service Period |  | Derived Service Period
|  | September 16, 2024 |  |  | September 17, 2024 |  |  | Both Grant Dates |  | September 16, 2024 |  |  | September 17, 2024 |  |  | Both Grant Dates |  | September 16, 2024 |  | September 17, 2024
1 |  | $ | 21.26 |  |  | $ | 22.85 |  |  | >$30 pershare |  |  | 424,000 |  |  |  | 202,450 |  |  | 1 year |  | 0.60 years |  | 0.46 years
2 |  | $ | 14.96 |  |  | $ | 16.31 |  |  | $30 to$40 pershare |  |  | 424,000 |  |  |  | 202,450 |  |  | 2 years |  | 2.00 years |  | 1.86 years
3 |  | $ | 9.93 |  |  | $ | 11.03 |  |  | $40 to$50 pershare |  |  | 424,000 |  |  |  | 202,450 |  |  | 3 years |  | 2.71 years |  | 2.60 years
7. Stock Based Compensation (continued)
Summary of Fair Valye Assumption Utilized in Lattice Valuation Model | The following table summarizes the fair value assumption utilized in the lattice valuation model to calculate fair value:
Grant Date |  | Volatility |  |  | Risk Free Interest Rate |  |  | Dividend Yield |
September 16, 2024 |  |  | 29.5 | % |  |  | 3.38 | % |  |  | 1.70 | %
September 17, 2024 |  |  | 29.5 | % |  |  | 3.41 | % |  |  | 1.65 | %
In connection with the acquisition of LeewayHertz (Note 1), the Company entered into an employment agreement with the selling shareholder and certain key employees by which the Company granted 439,453 restricted stock units, with either both performance and service requirements or just service requirements at a grant-date fair value of $25.86 per share with four year vesting terms. For the quarter and nine months ended September 27, 2024, the Company recorded $0.2 million of non-cash stock compensation expense.

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