Non-Qualified Stock Options

Generally, employee options vest over a four-year period, and have a duration of six years. Outstanding options are exercisable for various periods through May 2030.

(a)Total shares valued at the market price of the underlying stock as of March 28, 2026, less the exercise price.

As of March 28, 2026, the total unrecognized compensation expense related to unvested stock option awards was $0.6 million, which is expected to be recognized over a weighted average period of approximately one year. There were no options granted during 2026. The weighted average grant date fair value of options granted during 2025 and 2024 was $6.60 and $11.02, respectively. The total fair value of stock options vested during 2026, 2025 and 2024 was $0.8 million, $1.7 million and $1.4 million, respectively. There were no stock options exercised during 2026, 2025 or 2024.

Restricted Stock

Monro issues restricted stock awards (“RSAs”), restricted stock units (“RSUs”) and performance stock units (“PSUs”) to certain members of management as well as non-employee directors of the Company (collectively, “restricted stock”). RSAs represent shares issued upon grant that are restricted whereas RSUs and PSUs represent shares issued upon vesting in the future. The fair value for RSAs, RSUs and PSUs are generally calculated based on the stock price on the date of grant. RSAs have voting rights and earn dividends during the vesting period. RSUs and PSUs do not have voting rights but earn dividends during the vesting period. The dividends are paid to the recipient at the time the RSA, RSU or PSU becomes vested. If the recipient leaves Monro prior to the vesting date for any reason, the shares of RSA or the shares underlying RSU or PSU, and the dividends accrued on those shares will be forfeited and returned to Monro. Generally, RSAs and RSUs vest equally over three or four years. Generally, PSUs vest at the end of three years based upon the achievement of certain performance targets.

During 2026, the Company granted RSAs, RSUs and PSUs in connection with the appointment of its new President and Chief Executive Officer, effective December 2, 2025. 26,441 RSAs will vest over one year, and 59,492 RSUs will vest equally over two years on December 31, 2026 and December 31, 2027. 178,476 PSUs may vest upon the Company’s common stock price meeting certain market conditions on December 31, 2027.

In 2024, the Company issued a limited number of PSUs to members of senior management which may vest at the end of three years upon the achievement of a three-year average return on invested capital target. In 2025, the Company issued a limited number of PSUs to members of senior management which may vest upon the achievement of a three-year average relative total shareholder return (“rTSR”) target. In 2026, the Company issued a limited number of PSUs to members of senior management, which performance vesting is split evenly between the achievement of a three-year average rTSR target and the achievement of a fiscal 2026 EBITDA target, followed by an additional two-year time-vesting period.