v3.25.2
Stock-Based Compensation (Tables)
6 Months Ended
Jul. 12, 2025
Payout Determined from Total Shareholder Return Shares The Company TSR compared to the Peer Group TSR will determine the payout as set forth below:

 

Percentile

 

Payout as %
of Target

 

90th

 

 

200

%

70th

 

 

150

%

50th

 

 

100

%

30th

 

 

50

%

Below 30th

 

 

0

%

Schedule of ROIC Shares Earned Based on Ranges of Target The ROIC Shares can be earned based on a ranges of target as defined below:

 

Difference of ROIC minus WACC

 

2025 and 2024 Award

Less than 150 basis points

 

0%

150 basis points

 

50%

300 basis points

 

100%

450+ basis points

 

150%

 

 

 

Difference of ROIC minus WACC

 

2023 Award

Less than 175 basis points

 

0%

175 basis points

 

50%

375 basis points

 

100%

475+ basis points

 

125%

Performance-Contingent Restricted Stock Awards

The table below presents the TSR modifier share adjustment (a 13.25% final payout), ROIC modifier share adjustment (a 125% final payout), accumulated dividends on vested shares, and the tax benefit at vesting of the performance-contingent restricted stock awards (amounts in thousands, except per share data):

 

Award Granted

 

 

Fiscal Year
Vested

 

 

TSR Modifier
Increase
Shares

 

 

ROIC Modifier
Increase
Shares

 

 

Dividends at
Vesting

 

 

Tax
Expense

 

 

Fair Value at
Vesting

 

 

2022

 

 

 

2025

 

 

 

 

 

 

71,539

 

 

$

1,150

 

 

$

(2,630

)

 

$

7,475

 

Performance-Contingent Restricted Stock Activity

The company’s performance-contingent restricted stock activity for the twenty-eight weeks ended July 12, 2025 is presented below (amounts in thousands, except price data):

 

 

 

Shares

 

 

Weighted
Average
Grant Date
Fair Value

 

Nonvested shares at December 28, 2024

 

 

1,835

 

 

$

27.85

 

Granted

 

 

606

 

 

$

22.55

 

Grant increase for achieving the ROIC modifier

 

 

72

 

 

$

22.55

 

Vested

 

 

(412

)

 

$

27.78

 

Forfeited

 

 

(274

)

 

$

30.55

 

Nonvested shares at July 12, 2025

 

 

1,827

 

 

$

25.65

 

Time-Based Restricted Stock Units Awards

The following TBRSU Shares have been granted under the Omnibus Plan during the twenty-eight weeks ended July 12, 2025 (amounts in thousands, except price data):

 

Grant Date

 

Shares Granted

 

 

Vesting Date

 

Fair Value
per Share

 

12/29/2024

 

 

915

 

 

Equally over 3 years

 

$

20.47

 

 

Time-Based Restricted Stock Units Activity

The TBRSU Shares activity for the twenty-eight weeks ended July 12, 2025 is set forth below (amounts in thousands, except price data):

 

 

 

TBRSU Shares

 

 

Weighted
Average
Fair
Value

 

 

Weighted
Average
Remaining
Contractual
Term (Years)

 

 

Unrecognized
Compensation
Cost

 

Nonvested shares at December 28, 2024

 

 

987

 

 

$

23.56

 

 

 

 

 

 

 

Vested

 

 

(397

)

 

$

24.19

 

 

 

 

 

 

 

Granted

 

 

915

 

 

$

20.42

 

 

 

 

 

 

 

Forfeitures

 

 

(33

)

 

$

21.49

 

 

 

 

 

 

 

Nonvested shares at July 12, 2025

 

 

1,472

 

 

$

21.48

 

 

 

2.08

 

 

$

24,113

 

Vesting of Time-Based Restricted Stock Units

The table below presents the accumulated dividends on vested shares and the tax expense at vesting of the time-based restricted stock units (amounts in thousands).

 

Award Granted

 

 

Fiscal Year
Vested

 

 

Dividends at
Vesting

 

 

Tax
Expense

 

 

Fair Value at
Vesting

 

 

2024

 

 

 

2025

 

 

$

240

 

 

$

(149

)

 

$

5,072

 

 

2023

 

 

 

2025

 

 

$

113

 

 

$

(130

)

 

$

1,215

 

 

2022

 

 

 

2025

 

 

$

149

 

 

$

(100

)

 

$

1,096

 

Deferred Stock Activity

The deferred stock activity for the twenty-eight weeks ended July 12, 2025 is set forth below (amounts in thousands, except price data):

 

 

 

Shares

 

 

Weighted
Average
Fair
Value

 

 

Weighted
Average
Remaining
Contractual
Term (Years)

 

 

Unrecognized
compensation
cost

 

Nonvested shares at December 28, 2024

 

 

79

 

 

$

23.52

 

 

 

 

 

 

 

Vested

 

 

(79

)

 

$

23.52

 

 

 

 

 

 

 

Granted

 

 

101

 

 

$

16.88

 

 

 

 

 

 

 

Nonvested shares at July 12, 2025

 

 

101

 

 

$

16.88

 

 

 

0.84

 

 

$

1,402

 

Summary of Company's Stock Based Compensation Expense

The following table summarizes the company’s stock-based compensation expense for the twelve and twenty-eight weeks ended July 12, 2025 and July 13, 2024, (amounts in thousands):

 

 

 

For the Twelve Weeks Ended

 

 

 

July 12, 2025

 

 

July 13, 2024

 

Performance-contingent restricted stock awards

 

$

3,479

 

 

$

3,393

 

TBRSU Shares

 

 

3,276

 

 

 

1,997

 

Deferred and restricted stock

 

 

413

 

 

 

424

 

Total stock-based compensation

 

$

7,168

 

 

$

5,814

 

 

 

 

 

 

 

 

 

 

For the Twenty-Eight Weeks Ended

 

 

 

July 12, 2025

 

 

July 13, 2024

 

Performance-contingent restricted stock awards

 

$

10,597

 

 

$

10,643

 

TBRSU Shares

 

 

7,591

 

 

 

5,357

 

Deferred and restricted stock

 

 

981

 

 

 

943

 

Total stock-based compensation

 

$

19,169

 

 

$

16,943

 

Performance-Contingent Total Shareholder Return Shares  
Performance Contingent TSR Shares, ROIC Shares and Restricted Stock Awards

The following performance-contingent TSR Shares have been granted during the twenty-eight weeks ended July 12, 2025 under the Omnibus Plan (amounts in thousands, except price data):

 

Grant Date

 

Shares
Granted

 

 

Vesting Date

 

Fair Value
per Share

 

12/29/2024

 

 

303

 

 

2/29/2028

 

$

24.63

 

 

Return On Invested Capital  
Performance Contingent TSR Shares, ROIC Shares and Restricted Stock Awards

The following performance-contingent ROIC Shares have been granted under the Omnibus Plan during the twenty-eight weeks ended July 12, 2025 (amounts in thousands, except price data):

 

Grant Date

 

Shares
Granted

 

 

Vesting Date

 

Fair Value
per Share

 

12/29/2024

 

 

303

 

 

2/29/2028

 

$

20.47