| Shareholders' Equity |
SHAREHOLDERS’ EQUITY The following tables depict the activity in the accounts which make up shareholders’ equity for the three and nine months ended October 4, 2026 and September 28, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | SHARES | | COMMON STOCK | | ADDITIONAL PAID-IN CAPITAL | | RETAINED
EARNINGS | | FOREIGN CURRENCY TRANSLATION ADJUSTMENT | | PENSION LIABILITY | | TOTAL | | (in thousands, except per share data) | | Balance, at December 28, 2025 | 57,891 | | | $ | 5,789 | | | $ | 248,910 | | | $ | 517,980 | | | $ | (92,691) | | | $ | (39,314) | | | $ | 640,674 | | | Net income | — | | | — | | | — | | | 23,611 | | | — | | | — | | | 23,611 | | | Issuances of stock related to restricted share units and performance shares | 1,065 | | | 106 | | | (106) | | | — | | | — | | | — | | | — | | Cash dividends declared, $0.03 per common share | — | | | — | | | — | | | (1,882) | | | — | | | — | | | (1,882) | | | Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings | (440) | | | (44) | | | (8,818) | | | — | | | — | | | — | | | (8,862) | | | Share repurchases | (461) | | | (46) | | | (11,954) | | | — | | | — | | | — | | | (12,000) | | | Foreign currency translation adjustment | — | | | — | | | — | | | — | | | (8,344) | | | — | | | (8,344) | | | Pension liability adjustment | — | | | — | | | — | | | — | | | — | | | 1,388 | | | 1,388 | | | Balance, at April 5, 2026 | 58,055 | | | $ | 5,805 | | | $ | 228,032 | | | $ | 539,709 | | | $ | (101,035) | | | $ | (37,926) | | | $ | 634,585 | | | Net income | — | | | — | | | — | | | 51,407 | | | — | | | — | | | 51,407 | | | Issuances of stock related to restricted share units and performance shares | 58 | | | 5 | | | (5) | | | — | | | — | | | — | | | — | | Cash dividends declared, $0.03 per common share | — | | | — | | | — | | | (1,739) | | | — | | | — | | | (1,739) | | | Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings | (3) | | | — | | | 4,572 | | | — | | | — | | | — | | | 4,572 | | Share repurchases | (310) | | | (30) | | | (8,765) | | | — | | | — | | | — | | | (8,795) | | | Foreign currency translation adjustment | — | | | — | | | — | | | — | | | (1,505) | | | — | | | (1,505) | | | Pension liability adjustment | — | | | — | | | — | | | — | | | — | | | (160) | | | (160) | | | Balance, at July 5, 2026 | 57,800 | | | $ | 5,780 | | | $ | 223,834 | | | $ | 589,377 | | | $ | (102,540) | | | $ | (38,086) | | | $ | 678,365 | | | Net income | — | | | — | | | — | | | 39,220 | | | — | | | — | | | 39,220 | | | | | | | | | | | | | | | | Cash dividends declared, $0.03 per common share | — | | | — | | | — | | | (1,734) | | | — | | | — | | | (1,734) | | | Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings | — | | | — | | | 3,355 | | | — | | | — | | | — | | | 3,355 | | | | | | | | | | | | | | | | | Foreign currency translation adjustment | — | | | — | | | — | | | — | | | (6,102) | | | — | | | (6,102) | | | Pension liability adjustment | — | | | — | | | — | | | — | | | — | | | 442 | | | 442 | | | Balance, at October 4, 2026 | 57,800 | | | $ | 5,780 | | | $ | 227,189 | | | $ | 626,863 | | | $ | (108,642) | | | $ | (37,644) | | | $ | 713,546 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | SHARES | | COMMON STOCK | | ADDITIONAL PAID-IN CAPITAL | | RETAINED
EARNINGS | | FOREIGN CURRENCY TRANSLATION ADJUSTMENT | | PENSION LIABILITY | | TOTAL | | (in thousands, except per share data) | | Balance, at December 29, 2024 | 58,304 | | | $ | 5,830 | | | $ | 261,028 | | | $ | 405,441 | | | $ | (143,317) | | | $ | (39,834) | | | $ | 489,148 | | Net income | — | | | — | | | — | | | 13,002 | | | — | | | — | | | 13,002 | | | Issuances of stock related to restricted share units and performance shares | 658 | | | 66 | | | (66) | | | — | | | — | | | — | | | — | | Cash dividends declared, $0.01 per common share | — | | | — | | | — | | | (641) | | | — | | | — | | | (641) | | | Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings | (352) | | | (35) | | | (3,546) | | | — | | | — | | | — | | | (3,581) | | | Foreign currency translation adjustment | — | | | — | | | — | | | — | | | 15,834 | | | — | | | 15,834 | | | Pension liability adjustment | — | | | — | | | — | | | — | | | — | | | (695) | | | (695) | | | Balance, at March 30, 2025 | 58,610 | | | $ | 5,861 | | | $ | 257,416 | | | $ | 417,802 | | | $ | (127,483) | | | $ | (40,529) | | | $ | 513,067 | | | Net income | — | | | — | | | — | | | 32,561 | | | — | | | — | | | 32,561 | | | Issuances of stock related to restricted share units and performance shares | 1 | | | — | | | — | | | — | | | — | | | — | | | — | | Cash dividends declared, $0.01 per common share | — | | | — | | | — | | | (586) | | | — | | | — | | | (586) | | | Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings | — | | | — | | | 2,765 | | | — | | | — | | | — | | | 2,765 | | | Share repurchases | (218) | | | (22) | | | (4,423) | | | — | | | — | | | — | | | (4,445) | | | Foreign currency translation adjustment | — | | | — | | | — | | | — | | | 33,445 | | | — | | | 33,445 | | | Pension liability adjustment | — | | | — | | | — | | | — | | | — | | | (1,782) | | | (1,782) | | | Balance, at June 29, 2025 | 58,393 | | | $ | 5,839 | | | $ | 255,758 | | | $ | 449,777 | | | $ | (94,038) | | | $ | (42,311) | | | $ | 575,025 | | | Net income | — | | | — | | | — | | | 46,146 | | | — | | | — | | | 46,146 | | | Issuances of stock related to restricted share units | 54 | | | 5 | | | (5) | | | — | | | — | | | — | | | — | | Cash dividends declared, $0.02 per common share | — | | | — | | | — | | | (1,170) | | | — | | | — | | | (1,170) | | | Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings | (24) | | | (2) | | | 2,991 | | | — | | | — | | | — | | | 2,989 | | | Share repurchases | (32) | | | (3) | | | (695) | | | — | | | — | | | — | | | (698) | | | Foreign currency translation adjustment | — | | | — | | | — | | | — | | | (2,356) | | | — | | | (2,356) | | | Pension liability adjustment | — | | | — | | | — | | | — | | | — | | | 1,015 | | | 1,015 | | | Balance, at September 28, 2025 | 58,391 | | | $ | 5,839 | | | $ | 258,049 | | | $ | 494,753 | | | $ | (96,394) | | | $ | (41,296) | | | $ | 620,951 | |
Repurchases of Common Stock In May 2022, the Company adopted a share repurchase program in which the Company is authorized to repurchase up to $100 million of its outstanding shares of common stock. The program has no specific expiration date. During the nine months ended October 4, 2026, the Company repurchased 771,125 shares of common stock at a weighted average price of $26.90 per share pursuant to this program. Stock Incentive Plan Restricted Share Unit Awards Compensation expense related to the restricted share units was $5.5 million and $4.6 million for the nine months ended October 4, 2026 and September 28, 2025, respectively. The Company has reduced its expense for any restricted share units forfeited during the period. The following table summarizes restricted share units outstanding as of October 4, 2026, as well as activity during the nine months then ended: | | | | | | | | | | | | | Restricted Share Units | | Weighted Average
Grant Date
Fair Value | | Outstanding at December 28, 2025 | 797,400 | | | $ | 15.88 | | | Granted | 256,000 | | | 31.04 | | | Vested | (487,500) | | | 13.95 | | | Forfeited or canceled | (11,500) | | | 20.54 | | | Outstanding at October 4, 2026 | 554,400 | | | $ | 24.48 | |
As of October 4, 2026, the unrecognized total compensation cost related to unvested restricted share units was $9.1 million. That cost is expected to be recognized by the second quarter of 2029. Performance Share Awards The following table summarizes the performance shares outstanding as of October 4, 2026, as well as the activity during the nine months then ended: | | | | | | | | | | | | | Performance Shares | | Weighted Average
Grant Date
Fair Value | | Outstanding at December 28, 2025 | 1,070,300 | | | $ | 14.04 | | | Granted | 399,200 | | | 21.53 | | | Vested | (635,500) | | | 10.79 | | | Forfeited or canceled | (14,900) | | | 19.34 | | | Outstanding at October 4, 2026 | 819,100 | | | $ | 20.11 | |
Compensation expense related to the performance shares was $7.5 million and $5.5 million for the nine months ended October 4, 2026 and September 28, 2025, respectively. The Company has reduced its expense for any performance shares forfeited during the period. Unrecognized compensation expense related to these performance shares was approximately $11.1 million as of October 4, 2026. The amount and timing of future compensation expense will depend on the performance of the Company. The compensation expense related to these outstanding performance shares is expected to be recognized by the first quarter of 2029. The tax benefit recognized with respect to restricted share units and performance shares was approximately $1.5 million for the nine months ended October 4, 2026.
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