In connection with its initial public offering, the Company adopted the 2015 equity incentive plan (the “2015 Plan”) pursuant to which the Company’s Board of Directors may grant stock options, restricted shares or other awards to employees, directors, and consultants. The 2015 Plan allowed for the issuance of up to 5,250,000 shares. Awards were made pursuant to agreements and are subject to vesting and other restrictions as determined by the Board of Directors or the Compensation Committee of the Board. The Company uses authorized and unissued shares to satisfy share award exercises. After adoption of the 2025 Plan as described below, no additional equity grants were made under the 2015 Plan, although equity grants made under the 2015 Plan will continue to be governed by the 2015 Plan.

As of June 12, 2025, upon stockholder approval of the same at the Company’s annual meeting, the Company adopted a new 2025 Equity Incentive Plan (the “2025 Plan”). Pursuant to the 2025 Plan, the Company’s Board of Directors may grant stock options, restricted shares, restricted stock units, or other awards to officers, directors, key employees,

and professional service providers, pursuant to agreements and subject to vesting and other restrictions as determined by the Board of Directors.

As of August 1, 2026, there were 4,663,457 shares available for grant under the 2025 Plan.

Stock Options

The exercise price for stock options is determined at the fair value of the underlying stock on the date of grant. The vesting period for awards granted is generally set at four years (25% ratably per year). Awards are subject to employment for vesting, expire 10 years from the date of grant, and are not transferable other than upon death.

A summary of the Company’s stock option activity and related information for the twenty-six weeks ended August 1, 2026 follows:

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The weighted average grant date fair value per option for options granted during the twenty-six weeks ended August 1, 2026 and August 2, 2025 was $40.65 and $53.80, respectively. The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model that used the weighted average assumptions in the following table:

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To estimate the expected life of stock options, the Company uses its historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior for its stock option grants. For expected volatility, the Company uses its historical information over the expected life of the option granted to calculate the fair value of option grants. The risk-free interest rate is based on U.S. Treasury notes with a term approximating the expected life of the option.

Restricted Stock Units

Restricted stock units (“RSUs”) are issued at the closing price of the Company’s common stock on the date of grant. RSUs outstanding generally vest ratably over four years or cliff vest in one or four years. Awards are subject to employment for vesting and are not transferable other than upon death.

A summary of the Company’s RSU activity and related information for the twenty-six weeks ended August 1, 2026 is as follows:

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Stock-Based Compensation Expense

The compensation cost for stock options and RSUs which have been recorded within selling, general, and administrative expenses related to the Company’s equity incentive plans was $3.7 million and $3.4 million for the thirteen weeks ended August 1, 2026 and August 2, 2025, respectively, and $7.1 million and $6.5 million for the twenty-six weeks ended August 1, 2026 and August 2, 2025, respectively.

As of August 1, 2026, there was $34.4 million of total unrecognized compensation cost related to non-vested stock-based compensation arrangements. That cost is expected to be recognized over a weighted average period of 2.9 years. Compensation costs related to awards are recognized using the straight-line method.