v3.26.1
Equity and Stock-Based Compensation
6 Months Ended
Jun. 28, 2026
Share-Based Payment Arrangement [Abstract]  
Equity and Stock-Based Compensation Equity and Stock-Based Compensation
Stock option awards
There were no stock option awards granted during the twenty-six weeks ended June 28, 2026. A summary of stock option activity during the twenty-six weeks ended June 28, 2026 was as follows:
NUMBER OF OPTIONSWEIGHTED AVERAGE
EXERCISE PRICE PER SHARE
AGGREGATE INTRINSIC VALUE
(in thousands)
WEIGHTED AVERAGE
REMAINING CONTRACTUAL LIFE
(in years)
Outstanding, December 28, 2025
3,577,374 $10.15 $20,614 3.2
Expired(59,018)$12.96 
Exercised(28,781)$8.86 
Outstanding and exercisable, June 28, 2026
3,489,575 $10.12 $9,356 2.6
The aggregate intrinsic value is based on the difference between the exercise price of the stock option and the closing price of the Company’s common stock on the Nasdaq Global Select Market (“Nasdaq”) on the last trading day of the period.
A summary of the non-vested stock option activity during the twenty-six weeks ended June 28, 2026 is as follows:
NUMBER OF OPTIONSWEIGHTED AVERAGE GRANT DATE FAIR VALUE PER SHARE
Nonvested, December 28, 2025
3,946 $5.22 
Vested (3,946)$5.22 
Nonvested, June 28, 2026
— $— 
Restricted stock units
During the twenty-six weeks ended June 28, 2026, a total of 1,136,227 restricted stock units (“RSUs”) were granted. Of these RSUs, 901,643 will vest over a period of three years; 113,353 will vest in full one year from the grant date; 94,636 will vest in full three years from the grant date; and 26,595 will vest in full four years from the grant date.
A summary of the Company’s RSU activity during the twenty-six weeks ended June 28, 2026 is as follows:
RESTRICTED STOCK UNITSWEIGHTED AVERAGE GRANT DATE FAIR VALUE PER SHAREAGGREGATE INTRINSIC VALUE
(in thousands)
Outstanding, December 28, 2025
2,010,917 $17.60 $31,994 
Granted 1,136,227 $12.33 
Forfeited(79,553)$16.09 
Vested (551,676)$18.30 
Outstanding, June 28, 2026
2,515,915 $15.11 $32,053 
The aggregate intrinsic value is based on the closing price of the Company’s common stock on Nasdaq of $12.74 and $15.91 on June 26, 2026 and December 26, 2025, the last trading days of the periods, respectively.
Stock-based compensation expense, net of amounts capitalized, was $3.7 million and $2.8 million during the thirteen weeks ended June 28, 2026 and June 29, 2025, respectively, and $7.0 million and $5.0 million during the twenty-six weeks ended June 28, 2026 and June 29, 2025, respectively. Capitalized stock-based compensation included in property, fixtures and equipment totaled $0.1 million for both the twenty-six weeks ended June 28, 2026 and June 29, 2025.
Unrecognized stock-based compensation expense
The following represents unrecognized stock-based compensation expense and the remaining weighted average vesting period as of June 28, 2026:
UNRECOGNIZED STOCK-BASED COMPENSATION EXPENSE
(in thousands)
REMAINING WEIGHTED AVERAGE
RECOGNITION PERIOD
(in years)
Restricted stock units $31,421 2.6
As of June 28, 2026, all stock options were fully vested and there were no unvested stock options outstanding.