Stock-Based Compensation (Tables)
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3 Months Ended |
Mar. 29, 2025 |
Share-Based Payment Arrangement [Abstract] |
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Summary of stock-based compensation expense |
The following table summarizes the Company’s stock-based compensation expense (in thousands): | | | | | | | | | | | | | | | | | | | | Fiscal Quarter Ended | | | | | March 29, 2025 | | March 30, 2024 | | | Selling, general, and administrative | | $ | 1,971 | | $ | 1,243 | | | | | $ | 1,971 | | $ | 1,243 | | |
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Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] |
The following table represents the Company’s restricted stock units activity during the fiscal quarter ended March 29, 2025: | | | | | | | | | | Weighted- | | | | | Average Grant- | | | Shares | | Date Fair Value | Outstanding at January 1, 2025 | | 4,200,759 | | $ | 3.12 | Granted | | 798,077 | | | 7.31 | Vested | | (941,370) | | | 3.20 | Forfeited | | (56,405) | | | 3.16 | Outstanding at March 29, 2025 | | 4,001,061 | | $ | 3.93 |
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Share-Based Payment Arrangement, Option, Activity [Table Text Block] |
The following table represents the Company’s stock option activity during the fiscal quarter ended March 29, 2025: | | | | | | | | | | | | | | | | Weighted- | | Weighted- | | | | | | | | | Average | | Average | | | | | | | | Exercise Price | | Remaining | | Aggregate | | | Shares | | per Share | | Contract Term | | Intrinsic Value | | | | | | | | (in years) | | (in thousands) | Outstanding at January 1, 2025 | | 1,383,738 | | $ | 15.20 | | | | | | Granted | | — | | | — | | | | | | Exercised | | — | | | — | | | | | | Forfeited | | — | | | — | | | | | | Expired | | — | | | — | | | | | | Outstanding at March 29, 2025 | | 1,383,738 | | $ | 15.20 | | 6.61 | | $ | 83 | Vested and expected to vest at March 29, 2025 | | 1,383,738 | | $ | 15.20 | | 6.61 | | $ | 83 | Options exercisable at March 29, 2025 | | 976,745 | | $ | 15.72 | | 6.58 | | $ | 42 |
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Schedule of stock appreciation rights activity |
The following table represents the Company’s stock appreciation rights activity during the quarter ended March 29, 2025: | | | | | | | | | | | | | | | | Weighted- | | Weighted- | | | | | | | | | Average | | Average | | | | | | | | Exercise Price | | Remaining | | Aggregate | | | Shares | | per Share | | Contract Term | | Intrinsic Value | | | | | | | | (in years) | | (in thousands) | Outstanding at January 1, 2025 | | 660,556 | | $ | 3.15 | | | | | | Granted | | — | | | — | | | | | | Exercised | | — | | | — | | | | | | Forfeited | | — | | | — | | | | | | Outstanding at March 29, 2025 | | 660,556 | | $ | 3.15 | | 8.13 | | $ | 2,168 | Vested and expected to vest at March 29, 2025 | | 660,556 | | $ | 3.15 | | 8.13 | | $ | 2,168 | Stock appreciation rights exercisable at March 29, 2025 | | 292,602 | | $ | 3.19 | | 8.12 | | $ | 949 |
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Schedule of PSU activity |
The following table represents the Company’s PSU activity during the fiscal quarter ended March 29, 2025: | | | | | | | | | | | Weighted- | | | | | | Average | | | | | | Grant Date | | | Shares | | | Fair Value | | | | | | | Outstanding at January 1, 2025 | | 807,771 | | $ | 2.91 | Granted | | 325,613 | | | 7.33 | Adjustment for performance achievement (1) | | — | | | — | Forfeited | | — | | | — | Outstanding at March 29, 2025 | | 1,133,384 | | $ | 4.18 |
| (1) | Represents the adjustment to previously granted PSUs based on performance expectations as of the end of each respective fiscal year. |
| (2) | An additional 325,613 PSUs could potentially be included if the maximum performance level of 200% is earned for all PSUs granted during the fiscal quarter ended March 29, 2025. |
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