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Stock Based Compensation (Tables)

9 Months Ended

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			>$30pershare			424,000				202,450			1 year		0.60 years		0.46 years
2		$	14.96			$	16.31			$30to$40pershare			424,000				202,450			2 years		2.00 years		1.86 years
3		$	9.93			$	11.03			$40to$50pershare			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.