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Stockholder's Equity | 3 Months Ended
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Mar. 29, 2026
Stockholder's Equity |
Stockholder's Equity | Note 12 – Stockholder’s Equity Preferred Stock The Company is authorized to issue up to 9,840,000 shares of preferred stock, excluding the Series A Preferred Stock, with a par value of $0.0001 per share. There were no shares of preferred stock that were issued or outstanding at March 29, 2026 or December 28, 2025, other than the Series A Preferred Stock discussed above. Common Stock The Company is authorized by its amended and restated certificate of incorporation to issue up to 75.0 million shares of common stock, par value $0.0001 per share. As of March 29, 2026 and December 28, 2025, there were 31.5 million and 31.2 million shares of common stock outstanding, respectively. ​ Stock Purchase Program ​ The Company’s Board of Directors authorized a repurchase program of up to $15.0 million of outstanding common stock that was completed in December 2023. In March 2024, the Company’s Board of Directors authorized an additional $5.0 million of repurchases under this program. During the three periods ended March 30, 2025, the Company purchased 0.1 million shares for aggregate consideration of $0.3 million. There were no stock repurchases in the first quarter of 2026. As of March 29, 2026, the Company had purchased 3.4 million shares for $19.3 million under the program. ​ Warrants ​ In connection with the acquisition of the Benihana and RA Sushi restaurants, on May 1, 2024, the Company issued both market and penny warrants to the following holders of the Series A Preferred Stock. The holders of the penny warrants are entitled to receive any dividends issued to common stockholders. The Company has the following warrants to purchase shares of common stock outstanding as of March 29, 2026 and December 28, 2025: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Warrants | ​ | Exercise | ​ | Shares available for purchase
Issuance date | ​ | Holder of warrants | ​ | Expiration date | ​ | Issued | ​ | Price | ​ | March 29, 2026 | ​ | December 28, 2025
May 1, 2024 | ​ | HPC III Kaizen LP | ​ | May 1, 2029 | ​ | 1,000,000 | ​ | $ | 10.00 | ​ | 1,000,000 | ​ | 1,000,000
May 1, 2024 | ​ | HPS and affiliates | ​ | May 1, 2029 | ​ | 66,667 | ​ | $ | 10.00 | ​ | 66,667 | ​ | 66,667
May 1, 2024 | ​ | HPC III Kaizen LP | ​ | May 1, 2034 | ​ | 1,786,582 | ​ | $ | 0.01 | ​ | 1,786,582 | ​ | 1,786,582
May 1, 2024 | ​ | HPS and affiliates | ​ | May 1, 2034 | ​ | 119,105 | ​ | $ | 0.01 | ​ | 119,105 | ​ | 119,105
​

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