Stock-Based Compensation (Tables)

4 Months Ended

Apr. 19, 2025

Payout Determined from Total Shareholder Return Shares

The Company TSR compared to the Peer Group TSR will determine the payout as set forth below:

Percentile	Payout as % of Target
90th		200	%
70th		150	%
50th		100	%
30th		50	%
Below 30th		0	%

Schedule of ROIC Shares Earned Based on Ranges of Target

The ROIC Shares can be earned based on a ranges of target as defined below:

Difference of ROIC minus WACC	2025 and 2024 Award
Less than 150 basis points	0%
150 basis points	50%
300 basis points	100%
450+ basis points	150%
Difference of ROIC minus WACC	2023 Award
Less than 175 basis points	0%
175 basis points	50%
375 basis points	100%
475+ basis points	125%

Performance-Contingent Restricted Stock Awards

The table below presents the TSR modifier share adjustment (a 13.25% final payout), ROIC modifier share adjustment (a 125% final payout), accumulated dividends on vested shares, and the tax benefit at vesting of the performance-contingent restricted stock awards (amounts in thousands, except per share data):

Award Granted		Fiscal Year Vested		TSR Modifier Increase Shares		ROIC Modifier Increase Shares		Dividends at Vesting		Tax Expense			Fair Value at Vesting
	2022		2025		—		71,539	$	1,150	$	(2,630	)	$	7,475

Performance-Contingent Restricted Stock Activity

The company’s performance-contingent restricted stock activity for the sixteen weeks ended April 19, 2025 is presented below (amounts in thousands, except price data):

	Shares			Weighted Average Grant Date Fair Value
Nonvested shares at December 28, 2024		1,835		$	27.85
Granted		606		$	22.55
Grant increase for achieving the ROIC modifier		72		$	22.55
Vested		(412	)	$	27.78
Forfeited		(260	)	$	30.99
Nonvested shares at April 19, 2025		1,841		$	25.65

Time-Based Restricted Stock Units Awards

The following TBRSU Shares have been granted under the Omnibus Plan during the sixteen weeks ended April 19, 2025 (amounts in thousands, except price data):

Grant Date	Shares Granted		Vesting Date	Fair Value per Share
12/29/2024		915	Equally over 3 years	$	20.47

Time-Based Restricted Stock Units Activity

The TBRSU Shares activity for the sixteen weeks ended April 19, 2025 is set forth below (amounts in thousands, except price data):

	TBRSU Shares			Weighted Average Fair Value		Weighted Average Remaining Contractual Term (Years)		Unrecognized Compensation Cost
Nonvested shares at December 28, 2024		987		$	23.56
Vested		(397	)	$	24.19
Granted		915		$	20.42
Forfeitures		(18	)	$	21.85
Nonvested shares at April 19, 2025		1,487		$	21.48		2.28	$	27,594

Vesting of Time-Based Restricted Stock Units

The table below presents the accumulated dividends on vested shares and the tax expense at vesting of the time-based restricted stock units (amounts in thousands).

Award Granted		Fiscal Year Vested		Dividends at Vesting		Tax Expense			Fair Value at Vesting
	2024		2025	$	240	$	(149	)	$	5,072
	2023		2025	$	113	$	(130	)	$	1,215
	2022		2025	$	149	$	(100	)	$	1,096

Deferred Stock Activity

The deferred stock activity for the sixteen weeks ended April 19, 2025 is set forth below (amounts in thousands, except price data):

	Shares			Weighted Average Fair Value		Weighted Average Remaining Contractual Term (Years)		Unrecognized compensation cost
Nonvested shares at December 28, 2024		79		$	23.52
Vested		(7	)	$	22.51
Granted		7		$	20.55
Nonvested shares at April 19, 2025		79		$	23.33		0.34	$	264

Summary of Company's Stock Based Compensation Expense

The following table summarizes the company’s stock-based compensation expense for the sixteen weeks ended April 19, 2025 and April 20, 2024, respectively (amounts in thousands):

	For the Sixteen Weeks Ended
	April 19, 2025		April 20, 2024
Performance-contingent restricted stock awards	$	7,118	$	7,250
TBRSU Shares		4,315		3,360
Deferred and restricted stock		568		519
Total stock-based compensation	$	12,001	$	11,129

Performance-Contingent Total Shareholder Return Shares

Performance Contingent TSR Shares, ROIC Shares and Restricted Stock Awards

The following performance-contingent TSR Shares have been granted during the sixteen weeks ended April 19, 2025 under the Omnibus Plan (amounts in thousands, except price data):

Grant Date	Shares Granted		Vesting Date	Fair Value per Share
12/29/2024		303	2/29/2028	$	24.63

Return On Invested Capital

Performance Contingent TSR Shares, ROIC Shares and Restricted Stock Awards

The following performance-contingent ROIC Shares have been granted under the Omnibus Plan during the sixteen weeks ended April 19, 2025 (amounts in thousands, except price data):

Grant Date	Shares Granted		Vesting Date	Fair Value per Share
12/29/2024		303	2/29/2028	$	20.47