Stock-Based Compensation (Tables)

12 Months Ended

Dec. 28, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The following assumptions apply to time-based options awarded during fiscal years 2024, 2023 and 2022 under the Black-Scholes-Merton option pricing model: 

	Fiscal Year
	2024	2023	2022
Expected volatility	35.9% to 43.0%	35.4% to 35.7%	32.7% to 39.8%
Risk-free interest rate	3.9% to 4.3%	3.4% to 4.2%	1.8% to 3.6%
Expected term (in years)	6.0 to 6.5	6.5	6.5

The following assumptions were used to remeasure the fair value of performance-based options resulting from the October 2022 and May 2023 modifications under the Black-Scholes-Merton option pricing model:

	Fiscal Year
	2023	2022
Expected volatility	35.5%	35.1%
Risk-free interest rate	3.5%	3.8%
Expected term (in years)	6.5	6.5

The following assumptions were used to remeasure the fair value of performance-based options resulting from the July 2023 modifications under the Monte Carlo simulation:

	Fiscal Year
	2023
Expected volatility	35.0%
Risk-free interest rate	3.55% to 3.74%
Expected term (in years)	3.1 to 6.6

Schedule of Share-Based Payment Arrangement, Option, Activity

The following table summarizes activity related to time-based options: 

(in thousands, except per share amounts and remaining term)	Number of Options	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value
Outstanding at December 30, 2023	7,530	$	5.99	6.93	$	85,774
Granted	527	19.08
Exercised	(1,420)	2.23
Forfeited or expired	(691)	14.52
Outstanding at December 28, 2024	5,946	7.06		6.30	29,842
Exercisable at December 28, 2024	3,900	3.77		5.47	27,419

Schedule of Share-Based Payment Arrangement, Performance Shares, Activity

The following table summarizes activity related to performance-based options: 

(in thousands, except per share amounts and remaining term)	Number of Options	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value
Outstanding at December 30, 2023	7,948	$	2.05	5.78	$	121,750
Exercised	(365)	1.66
Forfeited or expired	(338)	1.61
Outstanding at December 28, 2024	7,245	2.10		5.07	59,455
Exercisable at December 28, 2024	3,516	2.12		5.07	28,813

Schedule of Share-Based Payment Arrangement, Restricted Stock Unit, Activity

The following table summarizes activity related to RSUs as of December 28, 2024:

(in thousands, except per share amounts)	Number of Units	Weighted Average Grant-Date Fair Value Per Share
Unvested at December 30, 2023	547	$	22.81
Granted	565	18.59
Vested	(186)	22.66
Forfeited	(87)	21.56
Unvested at December 28, 2024	839	20.13