v3.26.3
EQUITY
 9 Months Ended
Sep. 27, 2026
Equity [Abstract]  
EQUITY EQUITY
Equity Structure Prior to the IPO and Reorganization Transactions
Prior to the Reorganization Transactions and the IPO, Jersey Mike’s Holdings had three classes of membership interests: Class A-1 Units, Class A-2 Units and Class B Units. Class A-1 and Class A-2 Units had identical economic rights and participated ratably in distributions and allocations of profits and losses; the Class A-2
Units were issued to certain members, including as rollover equity in connection with the sponsor acquisition. Both classes generally possessed voting rights on matters submitted to the members. Class B Units were profits interests issued under Jersey Mike’s Holdings’ equity incentive arrangements that participated in distributions only after the Class A Units had received the return thresholds specified in the operating agreement and generally had no voting rights other than with respect to limited protective matters. The following table summarizes the authorized, issued, and outstanding membership interests before reorganization (in millions):

AuthorizedIssuedOutstanding
Class A-1 Units6,071 6,071 6,071 
Class A-2 Units13 13 13 
Class B Units320 267 267 
Equity Structure Following the IPO and Reorganization Transactions
In connection with the IPO, Jersey Mike's Holdings' limited liability company agreement was amended and restated to, among other things, modify its capital structure by reclassifying its outstanding Class A Units into a new class of limited liability company interests (the “Common Units”) and reclassifying its outstanding Class B Units into a new class of limited liability company interests (the “Incentive Units”). The Incentive Units are held directly by Jersey Mike’s Management Aggregator LLC (a management aggregator vehicle established for tax purposes) (“Aggregator”) through which the Continuing Unitholders who hold Incentive Units following the reclassification of the partnership interests of Jersey Mike’s Holdings (the “Continuing Incentive Unitholders”) indirectly hold such Incentive Units. Each Incentive Unit of Aggregator corresponds to an Incentive Unit of Jersey Mike’s Holdings. As a result of these transactions, pre-IPO owners hold their ownership interests directly in Jersey Mike's Holdings (in the case of the Continuing Unitholders) or Jersey Mike’s Subs Inc. (in the case of the Pre-IPO Stockholders).
The Corporation’s amended and restated certificate of incorporation has three classes of ownership interests: 10 billion shares of Class A common stock, par value $0.0001 per share, 10 billion shares of Class B common stock, par value $0.0001 per share, and 1 billion shares of preferred stock, par value $0.0001 per share. Shares of Class B common stock have no economic rights but entitle each holder to one vote per share and, together with an equal number of Common Units, are exchangeable for shares of Class A common stock on a one-for-one basis.