Stockholders’ Equity |
6 Months Ended |
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Jun. 27, 2026 | |
| Equity [Abstract] | |
| Stockholders’ Equity | Stockholders’ Equity The Company’s Board of Directors has authorized one class of shares, common stock. On July 13, 2026, the Company effected a 142.7-for-1 forward split of its common stock and a proportionate increase in the number of authorized shares. Accordingly, all share and per share information throughout the consolidated financial statements have been retroactively adjusted to reflect the stock split. As of June 27, 2026, the Company was authorized to issue 107,025,000 shares of common stock and had 49,793,037 shares issued and outstanding, as adjusted for the stock split. Effective July 31, 2026, the number of authorized shares of the Company’s common stock available for issuance was increased to 500,000,000. Dividend Recapitalization Transaction On June 17, 2026, the Company declared a dividend in the amount of $1.63 per share (as adjusted for the 142.7-for-1 forward stock split) to holders of its common stock using proceeds from the Amendment to the Credit Agreement as discussed in Note 7. The Board of Directors determined the dividend to be an extraordinary dividend under the 2019 Plan and certain RSU agreements, and consequently approved an adjustment to options outstanding under the 2019 Plan and RSUs outstanding under the RSU Agreements, pursuant to which (i) certain options and RSUs received an amount in cash equal to $1.63 for each such option and RSU, as applicable, (ii) the strike price of certain options was reduced by $1.63 for each such option and (iii) certain RSUs received an accrued dividend right equal to $1.63 for each such RSU, which are payable at the same time, and subject to the same terms, as the underlying RSU. The aggregate amount of the dividend and cash payments in respect of certain options and RSUs was $89.7 million, of which $60.6 million was paid during the thirteen weeks ended June 27, 2026 and $29.1 million was paid shortly thereafter. Accordingly, $29.1 million is recorded as a recapitalization dividend payable on the Company’s condensed consolidated balance sheet at June 27, 2026. During the 13 weeks ended June 27, 2026, the Company recognized stock-based compensation expense of $1.5 million in connection with the dividend declaration on June 17, 2026.
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