v3.26.1
Share-Based Compensation
6 Months Ended
Jul. 04, 2026
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
Class B Incentive Units
Beginning in the fourth quarter of 2022, pursuant to an incentive unit grant agreement, certain participants have been granted Class B units in Camelot Return Ultimate, LP (the “Partnership” or “Camelot Return Ultimate”), an indirect parent of the Company. The Class B units provide the holder with the opportunity to participate, upon certain vesting events and subject to Partnership repurchase rights and conditions, in the appreciation of the Partnership’s equity value from the date of grant. The Class B units vest over a five-year period on a straight-line basis. For the six months ended July 4, 2026, 1,349,839 Class B units were granted. The Company recognized a gain due to terminations and forfeitures of $0.1 million in the three months ended July 4, 2026 and expense of $1.3 million in the three months ended June 28, 2025. The Company recognized a gain from incentive units of $4.4 million in the six months ended July 4, 2026 and a gain from incentive units of $2.4 million in the six months ended June 28, 2025. The Company estimates that the unrecognized expense related to the Class B units is expected to be recognized over a weighted-average period of 3.9 years totaling $24.3 million.
Restricted Class A-2 Units
For the six months ended July 4, 2026, 224,980 restricted Class A-2 units in the Partnership were granted. The restricted Class A-2 units granted to non-employee directors vest over a one-year period and the restricted Class A-2 units granted to the Chief Executive Officer vest over a two year period. The Company recognized expense from restricted Class A-2 units of $0.4 million in the three months ended July 4, 2026 and $0.8 million in the six months ended July 4, 2026. The Company estimates that the unrecognized expense related to restricted Class A-2 units is expected to be recognized over a weighted-average period of 0.9 years totaling $3.4 million.