Information related to stock options under the Restated Employee Equity Incentive Plan and the Stock Option Plan for Non-Employee Directors and upper management is summarized as follows:


	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term in Years		Aggregate Intrinsic Value (in thousands)
Vested and expected to vest at December 27, 2025		289,550		$	313.93
Granted		4,146			181.63
Exercised		(3,120	)		157.58
Forfeited/ Expired		(125,231	)		387.22
Outstanding at September 26, 2026		165,345		$	258.06		7.37	$	121
Exercisable at September 26, 2026		82,171		$	282.78		5.86	$	121
Vested and expected to vest at September 26, 2026		156,054		$	264.29		7.18	$	121

Of the total options outstanding as of September 26, 2026, 6,930 shares were performance-based options for which the performance criteria had yet to be achieved.

On May 27, 2026, the Company granted options to purchase an aggregate of 4,146 shares of the Company’s Class A Common Stock to the Company’s non-employee Directors. All of the options vested immediately on the date of the grant. These options have a fair value and exercise price per share of $94.18 and $181.63, respectively.

On August 20, 2026, the Company announced that Diego Reynoso had decided to step down from his role as Treasurer and Chief Financial Officer, effective September 15, 2026. As a result, Mr. Reynoso forfeited an aggregate of 2,430 options. These forfeited options had a weighted average fair value and exercise price per share of $163.32 and $333.50, respectively.

The following table summarizes vesting activities of shares issued under the investment share program and restricted stock units:


	Number of Shares			Weighted Average Fair Value
Non-vested at December 27, 2025		229,603		$	265.97
Granted		65,928			209.31
Vested		(62,339	)		303.73
Forfeited		(47,108	)		251.34
Non-vested at September 26, 2026		186,084		$	236.95

Of the total non-vested shares as of September 26, 2026, 51,976 shares were performance-based shares for which the performance criteria had yet to be achieved.

On March 1, 2026, the Company granted a combined 52,427 shares of restricted stock units to certain officers, senior managers and key employees. Of the restricted stock units granted, 6,507 had performance-based vesting criteria. The remainder of restricted stock units granted on March 1, 2026 vests ratably over service periods of four years. Additionally, on March 1, 2026, employees elected to purchase a combined 11,083 shares under the Company’s investment share program. The weighted average fair value of the restricted stock units and investment shares, which are sold to employees at discount under its investment share program, was $226.78 and $132.59 per share, respectively.

On May 27, 2026, the Company granted a combined 2,148 shares of restricted stock units to the Company’s non-employee Directors, of which all shares vest one year from the grant date. The fair value of the restricted stock units was $181.63 per share.

On July 29, 2026, the Company granted a combined 270 shares of restricted stock units to a member of senior leadership, of which all shares vest ratably over a service period of four years. The fair value of the restricted stock units was $185.69 per share.

On August 20, 2026, the Company announced that Diego Reynoso had decided to step down from his role as Treasurer and Chief Financial Officer, effective September 15, 2026. As a result, Mr. Reynoso forfeited a combined 17,579 shares of restricted stock units. The weighted average fair value of the forfeited restricted stock units was $251.11 per share.

The following table provides information regarding stock-based compensation expense included in operating expenses in the accompanying condensed consolidated statements of comprehensive operations:


	Thirteen weeks ended				Thirty-nine weeks ended
	September 26, 2026		September 27, 2025		September 26, 2026		September 27, 2025
	(in thousands)				(in thousands)
Amounts included in advertising, promotional and selling expenses	$	1,742	$	1,687	$	5,148	$	5,691
Amounts included in general and administrative expenses		1,914		1,797		9,978		8,717
Total stock-based compensation expense	$	3,656	$	3,484	$	15,126	$	14,408

Weighted average assumptions used to estimate fair values of stock options on the date of grants and shares purchased under the Company's investment share program are as follows:


	2026
Expected volatility		37.3	%
Risk-free interest rate		3.7	%
Expected dividends		0.0	%
Exercise factor		2.0
Discount for post-vesting restrictions		0.0	%

In 1998, the Company began a share repurchase program. Under this program, the Company's Board of Directors has authorized the repurchase of the Company's Class A Stock. On October 2, 2024, the Board of Directors authorized an increase in the aggregate expenditure limit for the Company’s stock repurchase program by $400.0 million, increasing the limit from $1.2 billion to $1.6 billion. The Board of Directors did not specify a date upon which the total authorization would expire and, in the future, can further increase the authorized amount. Share repurchases under this program for the periods included herein were effected through open market transactions.

During the thirteen and thirty-nine weeks ended September 26, 2026, the Company repurchased and subsequently retired 140,377 and 371,406 shares, respectively, of its Class A Common Stock under the share repurchase program, for aggregate purchase prices of $25.0 million and $73.5 million, respectively. In addition, during the thirteen and thirty-nine weeks ended September 26, 2026, the Company repurchased and subsequently retired 433 and 1,137 unvested investment shares, respectively, issued under the Investment Share Program of the Company’s Employee Equity Incentive Plan. These shares were not repurchased under the Company’s share repurchase program.

As of September 26, 2026, the Company had repurchased a cumulative total of approximately 16.1 million shares of its Class A Common Stock for an aggregate purchase price of approximately $1.45 billion and had approximately $155 million remaining on the $1.6 billion stock repurchase expenditure limit set by the Board of Directors.