Note 3 – Stockholders’ Equity and Share-Based Compensation

Reverse Stock Split

On May 11, 2026, at the 2026 Annual Meeting of Stockholders, the Company’s stockholders approved the implementation of a Reverse Stock Split to be effected at such time and date, as determined by the Company’s Board of Directors in its sole discretion and a form of certificate of amendment to the Company’s Second Amended and Restated

Certificate of Incorporation (the “Certificate of Amendment”) to effect the Reverse Stock Split. On May 11, 2026, the Company’s Board of Directors then approved a 1-for-10 reverse stock split of the Company’s issued and outstanding common stock. On May 21, 2026, the Company filed the Certificate of Amendment with the Secretary of State of the State of Delaware to effectuate the Reverse Stock Split on May 26, 2026. As a result of the Reverse Stock Split, every ten shares of common stock outstanding immediately prior to effectiveness were combined and converted into one share of common stock. All share and per share information are presented after giving effect to the Reverse Stock Split retrospectively.

The reverse stock split did not change the authorized number of shares of the Company’s common stock.

Common Stock Issuance

On March 21, 2026, the Company entered into a Purchase Agreement with certain investors. The Company issued and sold an aggregate of 1,000 shares of common stock, par value $0.001 per share, at a purchase price of $8.00 per share, resulting in gross proceeds of $8,000.

Options and Restricted Stock Units

The Company had the following common stock option activity during the twenty-six weeks ended July 4, 2026:

The following table summarizes the Company’s restricted stock unit ("RSU") and restricted stock award (“RSA”) activity for the twenty-six weeks ended July 4, 2026, and details regarding the awards outstanding and exercisable as of July 4, 2026 (in thousands):

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During the twenty-six weeks ended July 4, 2026, 71 RSUs and RSAs that vested were time-based.

For the thirteen and twenty-six weeks ended July 4, 2026, we recorded compensation costs related to stock options, RSUs and RSAs of $690 and $2,439, respectively. For the thirteen and twenty-six weeks ended June 28, 2025, we recorded compensation costs related to stock options, RSUs and RSAs of $2,481 and $5,647, respectively. As of July 4, 2026, there was unrecognized compensation expense related to stock options, RSUs and RSAs of $4,726 that will be expensed through June 2030.