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Equity Based Compensation (Tables)
 12 Months Ended
Jan. 06, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Summary of Option Activity

A summary of activity related to the options is as follows:

 

 

Number of Options

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Contractual Term

 

 

Aggregate Intrinsic Value
(in thousands)

 

Outstanding at December 31, 2022

 

 

213,178

 

 

$

17.00

 

 

 

 

 

 

 

Granted

 

 

325,878

 

 

 

19.76

 

 

 

 

 

 

 

Forfeited

 

 

(54,965

)

 

 

17.91

 

 

 

 

 

 

 

Outstanding at January 6, 2024

 

 

484,091

 

 

$

18.76

 

 

 

8.7

 

 

$

—

 

Exercisable at January 6, 2024

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 
Summary of Restricted Stock Awards Activity

A summary of activity related to the RSUs is as follows:

 

 

Number of RSUs

 

 

Weighted Average Grant Date
Fair Value

 

Outstanding at December 31, 2022

 

 

285,459

 

 

$

18.24

 

Granted

 

 

349,569

 

 

 

16.45

 

Vested

 

 

(146,243

)

 

 

17.63

 

Forfeited

 

 

(66,924

)

 

 

17.33

 

Outstanding at January 6, 2024

 

 

421,861

 

 

$

17.11

 
Schedule of Stock Based Compensation Expenses

The Company recognized equity-based compensation expense in the following amounts within in selling, general and administrative expense on the Consolidated Statements of Operations:

 

 

For the Years Ended

 

 

January 6, 2024

 

 

December 31, 2022

 

 

December 25, 2021

 

Class A Common Stock Options

 

$

1,104

 

 

$

440

 

 

$

305

 

Restricted Stock Units

 

 

3,673

 

 

 

2,839

 

 

 

1,219

 

Time-based Units

 

 

1,088

 

 

 

2,277

 

 

 

1,122

 

2.0x and 2.5x Units

 

 

694

 

 

 

1,123

 

 

 

7,240

 

3.0x Units

 

 

4,429

 

 

 

2,354

 

 

 

1,249

 

Total

 

$

10,988

 

 

$

9,033

 

 

$

11,135

 
Lattice Model [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Weighted Average Assumptions of Stock Option Grants

The following table presents the weighted average assumptions used in the lattice model to determine the fair value of the stock options granted during the year ended January 6, 2024:

 

 

For the Year Ended January 6, 2024

 

Expected dividend yield

 

 

0.0

%

Expected volatility

 

 

61.5

%

Risk-free rate

 

 

3.6

%

Suboptimal exercise factor

 

2.5x

 
Black-Scholes Model [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Weighted Average Assumptions of Stock Option Grants

The following table presents the assumptions used in the Black-Scholes model to determine the fair value of the stock options granted during the year ended December 25, 2021.

 

 

 

For the Year Ended December 25, 2021

 

Expected dividend yield

 

 

0.0

%

Expected volatility

 

 

43.8

%

Risk-free rate

 

 

0.9

%

Expected term (in years)

 

 

6.5

 
Time Based Units [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Activity

The following table sets forth the activity related to the Time-Based Units for the year ended January 6, 2024:

 

 

Number of Time-Based Units

 

 

Weighted Average Grant Date
Fair Value

 

Outstanding at December 31, 2022

 

 

309,330

 

 

$

2.53

 

Vested

 

 

(270,458

)

 

 

2.48

 

Forfeited

 

 

(13,197

)

 

 

3.40

 

Outstanding at January 6, 2024

 

 

25,675

 

 

$

2.54

 
Two Point Zero And Two Point Five Units [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Activity

The following table sets forth the activity related to the 2.0x and 2.5x Units for the year ended January 6, 2024:

 

 

Number of 2.0x and 2.5x Units

 

 

Weighted Average Grant Date
Fair Value

 

Outstanding at December 31, 2022

 

 

72,579

 

 

$

17.00

 

Vested

 

 

(44,642

)

 

 

17.00

 

Forfeited

 

 

(16,500

)

 

 

17.00

 

Outstanding at January 6, 2024

 

 

11,437

 

 

$

17.00

 
Three Point Zero Units [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Weighted Average Assumptions of Stock Option Grants The following

table presents the weighted average assumptions used in the simulation to determine the fair value of the original award on the modification date:

 

 

 

For the Year Ended January 6, 2024

 

Expected dividend yield

 

 

0.0

%

Expected volatility

 

 

50.0

%

Risk-free rate

 

 

4.7

%
Summary of Activity

The following table sets forth the activity related to the 3.0x Units for the year ended January 6, 2024:

 

 

Number of 3.0x Units

 

 

Weighted Average Grant Date
Fair Value

 

Outstanding at December 31, 2022

 

 

533,707

 

 

$

7.76

 

Vested

 

 

(533,707

)

 

 

7.76

 

Outstanding at January 6, 2024

 

 

—

 

 

$

—