XML 57 R44.htm IDEA: XBRL DOCUMENT v3.25.0.1
Share-Based Payments (Tables)
12 Months Ended
Dec. 28, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Restricted Stock Activity

The following table summarizes restricted stock activity for 2024, 2023 and 2022:

 

Restricted

 

 

Weighted Average

 

 

Restricted

 

 

Weighted Average

 

 

Stock

 

 

Grant-Date

 

 

Stock

 

 

Grant-Date

 

 

Awards

 

 

Fair Value

 

 

Units

 

 

Fair Value

 

Outstanding and nonvested at January 1, 2022

 

 

1,031,837

 

 

$

 

17.56

 

 

 

 

 

 

$

 

 

Granted

 

 

391,334

 

 

 

 

28.63

 

 

 

 

 

 

 

 

 

Vested

 

 

(470,145

)

 

 

 

17.92

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(89,963

)

 

 

 

20.71

 

 

 

 

 

 

 

 

 

Outstanding and nonvested at December 31, 2022

 

 

863,063

 

 

 

 

22.05

 

 

 

 

 

 

 

 

 

Granted

 

 

447,910

 

 

 

 

26.95

 

 

 

 

 

 

 

 

 

Vested

 

 

(432,549

)

 

 

 

21.16

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(58,967

)

 

 

 

25.96

 

 

 

 

 

 

 

 

 

Outstanding and nonvested at December 30, 2023

 

 

819,457

 

 

 

 

24.92

 

 

 

 

 

 

 

 

 

Granted

 

 

 

 

 

 

 

 

 

 

610,842

 

 

 

 

20.28

 

Vested

 

 

(468,785

)

 

 

 

23.14

 

 

 

 

(15,490

)

 

 

 

20.41

 

Forfeited

 

 

(25,444

)

 

 

 

27.15

 

 

 

 

(31,881

)

 

 

 

20.41

 

Outstanding and nonvested at December 28, 2024

 

 

325,228

 

 

$

 

27.32

 

 

 

 

563,471

 

 

$

 

20.27

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Performance Share Units Activity

The following table summarizes performance share unit activity for 2024 and 2023:

 

Performance

 

 

Weighted Average

 

 

Share

 

 

Grant-Date

 

 

Units

 

 

Fair Value

 

Outstanding and nonvested at December 31, 2022

 

 

 

 

$

 

 

Granted

 

 

299,840

 

 

 

 

27.01

 

Forfeited

 

 

(9,530

)

 

 

 

27.24

 

Outstanding and nonvested at December 30, 2023

 

 

290,310

 

 

$

 

27.00

 

Granted

 

 

422,786

 

 

 

 

20.56

 

Forfeited

 

 

(34,531

)

 

 

 

23.24

 

Outstanding and nonvested at December 28, 2024

 

 

678,565

 

 

$

 

23.18

 

Summary of Allocation of Stock-Based Compensation Expense in Consolidated Statements of Operations -based compensation expense recognized and included in “Selling, general and administrative expenses” in the consolidated statements of earnings, and related tax benefits were as follows:

(In thousands)

 

 

 

2024

 

 

2023

 

 

2022

 

Restricted stock award expense

 

 

 

$

 

5,418

 

 

$

 

10,220

 

 

$

 

8,308

 

Restricted stock unit expense

 

 

 

 

 

5,399

 

 

 

 

 

 

 

 

 

Performance share unit expense

 

 

 

 

 

(162

)

 

 

 

2,048

 

 

 

 

 

Income tax benefit

 

 

 

 

 

(2,776

)

 

 

 

(4,199

)

 

 

 

(4,094

)

Stock-based compensation expense, net of tax

 

 

 

$

 

7,879

 

 

$

 

8,069

 

 

$

 

4,214

 

Stock-based compensation expense is recognized net of estimated forfeitures, determined based on historical experience.

Summary of Stock Warrant Activity

The following table summarizes the Warrant activity for 2024, 2023 and 2022:

 

 

 

 

 

 

 

 

Warrant

 

Outstanding and nonvested at January 1, 2022

 

 

 

 

 

 

 

 

3,914,833

 

Vested

 

 

 

 

 

 

 

 

(434,984

)

Outstanding and nonvested at December 31, 2022

 

 

 

 

 

 

 

 

3,479,849

 

Vested

 

 

 

 

 

 

 

 

(217,492

)

Outstanding and nonvested at December 30, 2023

 

 

 

 

 

 

 

 

3,262,357

 

Vested

 

 

 

 

 

 

 

 

(217,492

)

Outstanding and nonvested at December 28, 2024

 

 

 

 

 

 

 

 

3,044,865

 

Summary of Stock-Based Payment Expense Recognized Included as a Reduction of Net Sales in Consolidated Statements of Operations

Warrant expense recognized as a reduction of “Net sales” in the consolidated statements of earnings, and related tax benefits were as follows:

(In thousands)

 

 

 

2024

 

 

2023

 

 

2021

 

Warrant expense

 

 

 

$

 

868

 

 

$

 

1,559

 

 

$

 

2,158

 

Tax benefits

 

 

 

 

 

(71

)

 

 

 

(133

)

 

 

 

(203

)

Warrant expense, net of tax

 

 

 

$

 

797

 

 

$

 

1,426

 

 

$

 

1,955