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Shareholders' Equity
 3 Months Ended
Mar. 30, 2025
Stockholders' Equity Note [Abstract]  
Shareholders' Equity SHAREHOLDERS’ EQUITY
The following tables depict the activity in the accounts which make up shareholders’ equity for the three months ended March 30, 2025 and March 31, 2024:
SHARESCOMMON STOCKADDITIONAL PAID-IN CAPITALRETAINED
EARNINGS		PENSION LIABILITYFOREIGN CURRENCY TRANSLATION ADJUSTMENT
TOTAL
(in thousands, except per share data)
Balance, at December 29, 202458,304 $5,830 $261,028 $405,441 $(39,834)$(143,317)$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)
Pension liability adjustment— — — — (695)— (695)
Foreign currency translation adjustment— — — — — 15,834 15,834 
Balance, at March 30, 202558,610 $5,861 $257,416 $417,802 $(40,529)$(127,483)$513,067 
SHARESCOMMON STOCKADDITIONAL PAID-IN CAPITALRETAINED
EARNINGS		PENSION LIABILITYFOREIGN CURRENCY TRANSLATION ADJUSTMENT
TOTAL
(in thousands, except per share data)
Balance, at December 31, 202358,112 $5,811 $252,909 $320,833 $(34,016)$(119,590)$425,947 
Net income
— — — 14,179 — — 14,179 
Issuances of stock related to restricted share units and performance shares
472 47 (47)— — — — 
Cash dividends declared, $0.01 per common share
— — — (589)— — (589)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings
(311)(31)(324)— — — (355)
Pension liability adjustment— — — — 458 — 458 
Foreign currency translation adjustment— — — — — (11,092)(11,092)
Balance, at March 31, 202458,273 $5,827 $252,538 $334,423 $(33,558)$(130,682)$428,548 
The Company has share-based employee compensation plans, which are described more fully in Note 14 to the consolidated financial statements included in Item 8 of the Annual Report on Form 10-K for the fiscal year ended December 29, 2024.
Restricted Stock Awards
Compensation expense related to restricted stock grants was $0.3 million and $0.9 million for the three months ended March 30, 2025 and March 31, 2024, respectively. The Company has reduced its expense for any restricted stock forfeited during the period.
The following table summarizes restricted stock outstanding as of March 30, 2025, as well as activity during the three months then ended:
Restricted Stock
Weighted Average
Grant Date
Fair Value
Outstanding at December 29, 2024242,300 $13.92 
Granted— — 
Vested(184,000)13.19 
Forfeited or canceled— — 
Outstanding at March 30, 202558,300 $16.22 
As of March 30, 2025, the unrecognized total compensation cost related to unvested restricted stock was $0.1 million. That cost is expected to be recognized during the second quarter of 2025.
Restricted Share Unit Awards
Compensation expense related to the restricted share units was $1.8 million and $0.9 million for the three months ended March 30, 2025 and March 31, 2024, 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 March 30, 2025, as well as activity during the three months then ended:
Restricted Share UnitsWeighted Average
Grant Date
Fair Value
Outstanding at December 29, 2024823,300 $11.76 
Granted247,200 21.46 
Vested(283,100)11.95 
Forfeited or canceled(900)10.80 
Outstanding at March 30, 2025786,500 $14.75 
As of March 30, 2025, the unrecognized total compensation cost related to unvested restricted share units was $9.5 million. That cost is expected to be recognized by the first quarter of 2028.
Performance Share Awards
The following table summarizes the performance shares outstanding as of March 30, 2025, as well as the activity during the three months then ended:
Performance SharesWeighted Average
Grant Date
Fair Value
Outstanding at December 29, 20241,171,700 $12.23 
Granted300,700 19.96 
Vested(375,500)12.99 
Forfeited or canceled(2,000)12.20 
Outstanding at March 30, 20251,094,900 $14.09 
Compensation expense related to the performance shares was $2.0 million and $2.1 million for the three months ended March 30, 2025 and March 31, 2024, 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 $11.2 million as of March 30, 2025. 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 2028.
The tax benefit recognized with respect to restricted stock, restricted share units and performance shares was approximately $0.4 million for the three months ended March 30, 2025.