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Common Stock and Stock-Based Compensation (Tables)
6 Months Ended
Jun. 29, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Options under Employee Equity Incentive Plan and Stock Option Plan for Non-Employee Directors

Information related to stock options under the Restated Employee Equity Incentive Plan and the Stock Option Plan for Non-Employee Directors and upper management is summarized as follows:

 

 

 

Shares

 

 

Weighted-
Average
Exercise Price

 

 

Weighted-
Average
Remaining
Contractual
Term in Years

 

 

Aggregate
Intrinsic
Value
(in thousands)

 

Outstanding at December 30, 2023

 

 

207,810

 

 

$

361.53

 

 

 

 

 

 

 

Granted

 

 

24,045

 

 

 

300.14

 

 

 

 

 

 

 

Exercised

 

 

(6,164

)

 

 

204.25

 

 

 

 

 

 

 

Forfeited/ Expired

 

 

(15,487

)

 

 

383.46

 

 

 

 

 

 

 

Outstanding at June 29, 2024

 

 

210,204

 

 

$

357.50

 

 

 

5.35

 

 

$

6,358

 

Exercisable at June 29, 2024

 

 

127,340

 

 

$

327.04

 

 

 

4.29

 

 

$

6,031

 

Vested and expected to vest at June 29, 2024

 

 

190,382

 

 

$

361.14

 

 

 

5.22

 

 

$

6,306

 

 

Weighted Average Assumptions used to Estimate Fair Value of Stock Options

Weighted average assumptions used to estimate fair values of stock options on the date of grants are as follows:

 

 

 

2024

 

Expected Volatility

 

 

40.1

%

Risk-free interest rate

 

 

4.2

%

Expected Dividends

 

 

0.0

%

Exercise factor

 

 

2.1

 

Discount for post-vesting restrictions

 

 

0.0

%

Summary of Vesting Activities of Shares Issued Under Investment Share Program and Restricted Stock Units

The following table summarizes vesting activities of shares issued under the investment share program and restricted stock units:

 

 

 

Number of Shares

 

 

Weighted Average Fair Value

 

Non-vested at December 30, 2023

 

 

114,797

 

 

$

373.56

 

Granted

 

 

85,569

 

 

 

290.21

 

Vested

 

 

(32,385

)

 

 

382.98

 

Forfeited

 

 

(2,224

)

 

 

325.06

 

Non-vested at June 29, 2024

 

 

165,757

 

 

$

329.34

 

 

Stock-Based Compensation Expense Included in Operating Expenses

The following table provides information regarding stock-based compensation expense included in operating expenses in the accompanying condensed consolidated statements of comprehensive operations:

 

 

 

Thirteen weeks ended

 

 

Twenty-six weeks ended

 

 

 

June 29,
2024

 

 

July 1,
2023

 

 

June 29,
2024

 

 

July 1,
2023

 

 

 

(in thousands)

 

 

(in thousands)

 

Amounts included in advertising, promotional and selling expenses

 

 

1,465

 

 

 

1,539

 

 

$

3,930

 

 

$

3,582

 

Amounts included in general and administrative expenses

 

 

2,416

 

 

 

2,654

 

 

 

7,078

 

 

 

4,684

 

Total stock-based compensation expense

 

$

3,881

 

 

$

4,193

 

 

$

11,008

 

 

$

8,266