v3.25.1
Share-based Compensation (Tables)
3 Months Ended
Mar. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Share Option Awards

A summary of the status of the Company’s share option awards is presented below:

 

 

Shares

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Life
(In Years)

 

 

Aggregate
Intrinsic
Value

 

Outstanding at December 29, 2024

 

 

509,660

 

 

$

4.67

 

 

 

 

 

 

 

Granted

 

 

315,000

 

 

 

1.18

 

 

 

 

 

 

 

Forfeited

 

 

(3,375

)

 

 

4.80

 

 

 

 

 

 

 

Outstanding at March 30, 2025

 

 

821,285

 

 

$

3.33

 

 

 

7.97

 

 

$

 

Exercisable at March 30, 2025

 

 

302,222

 

 

$

4.26

 

 

 

5.35

 

 

$

 

Vested and Expected to Vest at March 30, 2025

 

 

812,727

 

 

$

3.34

 

 

 

7.95

 

 

$

 

Weighted-Average Assumptions Used to Estimate the Fair Value of Each Share Option Award

The fair value of each share option award on the date of grant was estimated using the Black-Scholes method based on the following weighted-average assumptions:

 

 

13 Weeks Ended

 

 

 

March 30,
2025

 

 

March 31,
2024

 

Risk-free interest rate

 

 

4.2

%

 

 

4.2

%

Expected term

 

7.5 years

 

 

7.5 years

 

Expected volatility

 

 

81.4

%

 

 

77.6

%

Expected dividend yield

 

 

 

 

 

4.1

%

Summary of Nonvested Share Awards Activity

A summary of the status of the Company’s nonvested share awards is presented below:

 

 

Shares

 

 

Weighted-
Average Grant-
Date Fair
Value

 

Balance at December 29, 2024

 

 

691,800

 

 

$

7.24

 

Granted

 

 

262,980

 

 

 

0.99

 

Vested

 

 

(223,685

)

 

 

9.81

 

Forfeited

 

 

(8,870

)

 

 

7.31

 

Balance at March 30, 2025

 

 

722,225

 

 

$

4.17