
	2024	2023	2022
Stock awards(1)	$8,157	$11,053	$9,471
Stock options	3,287	3,802	3,752
Total stock-based compensation expense(1)	11,444	14,855	13,223
Income tax benefit	2,747	3,476	3,319
Total stock-based compensation expense, net of tax	$8,697	$11,379	$9,904

(1)Changes in annual stock-based compensation expense includes the cumulative impact of the change in the expected achievements of certain

A summary of the Company’s stock option activity was as follows (in thousands, except per share amounts and years):


	Stock Options	Weighted- Average Exercise Price per Share	Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value(1)
Outstanding at December 30, 2023	1,046	$40.80	6.2	$—
Granted	—	—
Exercised	—	—
Canceled/Forfeited	(104)	40.38
Outstanding at December 28, 2024	942	$40.85	5.6	$—
Exercisable at December 28, 2024	736	$42.90	4.9	$—
Vested and expected to vest at December 28, 2024	926	$40.95	5.6	$—

(1)Aggregate intrinsic value includes only those options where the current share price is equal to or greater than the share price on the date of grant.


	2024	2023	2022
Weighted-average grant date fair value of stock options granted	$—	$16.41	$30.22
Total intrinsic value (at exercise) of stock options exercised	$—	$298	$1,298

At December 28, 2024, there was $2.1 million of total stock option compensation expense related to non-vested stock

options not yet recognized, which is expected to be recognized over a weighted-average period of 1.2 years.

The assumptions used to calculate the fair value of options granted using the Black-Scholes-Merton option-pricing

model were as follows. There were no grants of new stock option awards for the fiscal year ended December 28, 2024.


Valuation Assumptions	2024	2023	2022
Expected dividend yield	—%	0.0%	0.0%
Expected volatility	—%	64%	57%
Risk-free interest rate	—%	3.8%	2.2%
Expected term (years)	—	5.7	5.3


	Time- Based Stock Awards	Weighted- Average Grant Date Fair Value	Performance- Based Stock Awards	Weighted- Average Grant Date Fair Value
Outstanding at December 30, 2023	397	$37.38	699	$51.74
Granted	674	13.70	211	13.53
Vested	(181)	39.62	(45)	127.50
Canceled/Forfeited	(77)	23.05	(88)	99.19
Outstanding at December 28, 2024	813	$18.60	777	$31.74

At December 28, 2024, there was $8.7 million of unrecognized compensation expense related to non-vested time-based

stock awards, which is expected to be recognized over a weighted-average period of 1.8 years, and $2.8 million of

unrecognized compensation expense related to non-vested performance-based stock awards, which is expected to be


	2024	2023	2022
Amount repurchased under Board-approved share repurchase program	$—	$—	$54,868
Amount repurchased in connection with the vesting of employee restricted stock grants	768	3,747	9,320
Total amount repurchased (based on trade dates)	$768	$3,747	$64,188

As of December 28, 2024, the remaining authorization under the Board-approved $600 million share repurchase

The components of basic and diluted net (loss) income per share were as follows (in thousands, except per share


	2024	2023	2022
Net (loss) income	$(20,334)	$(15,287)	$36,610
Reconciliation of weighted-average shares outstanding:
Basic weighted-average shares outstanding	22,606	22,429	22,396
Dilutive effect of stock-based awards	—	—	456
Diluted weighted-average shares outstanding	22,606	22,429	22,852
Net (loss) income per share – basic	$(0.90)	$(0.68)	$1.63
Net (loss) income per share – diluted	$(0.90)	$(0.68)	$1.60

Additional potential dilutive stock-based awards totaling 1.2 million, 1.3 million and 0.6 million for 2024, 2023 and 2022,

respectively, have been excluded from the diluted net (loss) income per share calculations because these stock-based

awards were anti-dilutive. For both 2024 and 2023, otherwise dilutive stock-based awards of 0.1 million have been

excluded from the calculation of diluted weighted-average shares outstanding, as their inclusion would have had an anti-