XML 37 R30.htm IDEA: XBRL DOCUMENT v3.24.3
Stock-Based Compensation (Tables)
9 Months Ended
Oct. 05, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Allocation of Stock-Based Compensation Expense in Condensed Consolidated Statements of Operations

Stock-based compensation expense recognized and included in “Selling, general and administrative expenses” in the condensed consolidated statements of earnings, and related tax impacts were as follows:

 

12 Weeks Ended

 

 

40 Weeks Ended

 

(In thousands)

October 5, 2024

 

 

October 7, 2023

 

 

October 5, 2024

 

 

October 7, 2023

 

Restricted stock expense

$

 

1,082

 

 

$

 

1,771

 

 

$

 

4,343

 

 

$

 

8,468

 

Restricted stock unit expense

 

 

845

 

 

 

 

 

 

 

 

4,509

 

 

 

 

 

Performance share unit expense (benefit)

 

 

549

 

 

 

 

577

 

 

 

 

(800

)

 

 

 

1,492

 

Income tax benefit

 

 

(686

)

 

 

 

(593

)

 

 

 

(2,129

)

 

 

 

(3,502

)

Stock-based compensation expense, net of tax

$

 

1,790

 

 

$

 

1,755

 

 

$

 

5,923

 

 

$

 

6,458

 

Summary of Stock Incentive Plans Activity

The following table summarizes activity in the stock incentive plans for the 40 weeks ended October 5, 2024:

 

 

 

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

Restricted

 

 

Average

 

 

Restricted

 

 

Average

 

 

Performance

 

 

Average

 

 

Stock

 

 

Grant-Date

 

 

Stock

 

 

Grant-Date

 

 

Share

 

 

Grant-Date

 

 

Awards

 

 

Fair Value

 

 

Units

 

 

Fair Value

 

 

Units

 

 

Fair Value

 

Outstanding at December 30, 2023

 

 

819,457

 

 

$

 

24.92

 

 

 

 

 

 

$

 

 

 

 

 

290,310

 

 

$

 

27.00

 

Granted

 

 

 

 

 

 

 

 

 

 

594,321

 

 

 

 

20.30

 

 

 

 

418,008

 

 

 

 

20.55

 

Vested

 

 

(466,544

)

 

 

 

23.14

 

 

 

 

(15,490

)

 

 

 

20.41

 

 

 

 

 

 

 

 

 

Cancelled/Forfeited

 

 

(23,104

)

 

 

 

27.11

 

 

 

 

(27,960

)

 

 

 

20.41

 

 

 

 

(28,274

)

 

 

 

23.30

 

Outstanding at October 5, 2024

 

 

329,809

 

 

$

 

27.29

 

 

 

 

550,871

 

 

$

 

20.30

 

 

 

 

680,044

 

 

$

 

23.19

 

Summarizes the Unrecognized Compensation Cost and Weighted Average Recognition Period For Awards Granted Under the Company's Stock Incentive Plans

The following table summarizes the unrecognized compensation cost and weighted average recognition period for awards granted under the Company's stock incentive plans as of October 5, 2024:

 

 

 

 

 

Weighted

 

Unrecognized

 

 

Average

 

Compensation

 

 

Recognition

 

Cost

 

 

Period

 

(In thousands)

 

 

(in years)

Restricted stock awards

$

 

4,169

 

 

 

1.2

Restricted stock units

 

 

7,017

 

 

 

2.2

Performance share units

 

 

7,006

 

 

 

2.2

Total

$

 

18,192

 

 

 

 

Summary of Share-based Payment Expense Recognized as a Reduction of Net Sales in Condensed Consolidated Statements of Operations

Share-based payment expense recognized as a reduction of “Net sales” in the condensed consolidated statements of earnings, and related tax benefits were as follows:

 

12 Weeks Ended

 

 

40 Weeks Ended

 

(In thousands)

October 5, 2024

 

 

October 7, 2023

 

 

October 5, 2024

 

 

October 7, 2023

 

Warrant expense

$

 

184

 

 

$

 

319

 

 

$

 

700

 

 

$

 

1,279

 

Income tax benefit

 

 

(17

)

 

 

 

(43

)

 

 

 

(72

)

 

 

 

(138

)

Warrant expense, net of tax

$

 

167

 

 

$

 

276

 

 

$

 

628

 

 

$

 

1,141

 

Summary of Stock Warrant Activity

The following table summarizes stock warrant activity for the 40 weeks ended October 5, 2024:

 

 

 

 

 

 

 

 

Warrant

 

Outstanding and nonvested at December 30, 2023

 

 

 

 

 

 

 

 

3,262,357

 

Vested

 

 

 

 

 

 

 

 

(217,492

)

Outstanding and nonvested at October 5, 2024

 

 

 

 

 

 

 

 

3,044,865