Annual report pursuant to Section 13 and 15(d)

Stock Incentive Plans (Tables)

v3.22.4
Stock Incentive Plans (Tables)
 12 Months Ended
Dec. 25, 2022
Share-Based Payment Arrangement [Abstract]  
Scheduleof status of the Company's stock option plans
The tables below summarize the status of the Company's stock option plans (in thousands, except exercise price):
Stock Options
Shares Weighted Average Exercise Price
Outstanding, December 26, 2021
 453  $ 36.91 
Granted —  — 
Forfeited/expired (33) 27.95 
Exercised (1) 12.61 
Outstanding, December 25, 2022
 419  $ 37.69 
Shares Weighted
Average
Exercise
Price		 Weighted
Average
Remaining
Years of
Contractual
Life		 Aggregate
Intrinsic Value
Outstanding as of December 25, 2022
 419  $ 37.69  3.67 $ — 
Vested and expected to vest as of December 25, 2022(1)
416  $ 37.82  3.65 — 
Exercisable as of December 25, 2022
 361  $ 41.68  3.10 $ — 
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(1)    The expected to vest options are the result of applying the pre-vesting forfeiture rate assumption to total outstanding options. The Company applies estimated forfeiture rates that are derived from our historical forfeitures of similar awards.
The table below summarizes the status of the Company' inducement grants (shares in thousands):
Restricted Stock Units Performance Stock Units
Shares Weighted Average Grant-Date Fair Value (per share) Shares Weighted Average Grant-Date Fair Value (per share)
Outstanding, December 26, 2021
 —  $ —  —  $ — 
Awarded 188  7.57  124  6.13 
Forfeited —  —  —  — 
Vested —  —  —  — 
Outstanding, December 25, 2022(1)
188  $ 7.57  124  $ 6.13 
(1) Awards expected to vest are the result of applying the pre-vesting forfeiture rate assumption to total outstanding options. The Company applies estimated forfeiture rates that are derived from our historical forfeitures of similar awards.
Schedule of average assumptions used in estimation of fair value of options
The estimated fair value of each option granted is calculated using the Black-Scholes multiple option-pricing model, and expense is recognized straight line over the vesting period. No options were granted during 2022 or 2021. The average assumptions used in the model for the fiscal years ended December 25, 2022, December 26, 2021 and December 27, 2020 were as follows:
2020
Risk-free interest rate 0.5  %
Expected years until exercise 4.7
Expected stock volatility 61.0  %
Dividend yield —  %
Weighted average Black-Scholes fair value per share at date of grant $ 6.28 
Total intrinsic value of options exercised was $4 thousand, $89 thousand, and $30 thousand in 2022, 2021, and 2020, respectively.
Schedule of the status of the Company's restricted stock units
The table below summarizes the status of the Company's time-based RSUs under the 2017 and 2007 Stock Plans (shares in thousands):
Restricted Stock Units
Shares Weighted Average Grant-Date Fair Value (per share)
Outstanding, December 26, 2021
 419  $ 28.89 
Awarded 339  14.70 
Forfeited (113) 23.68 
Vested (213) 29.04 
Outstanding, December 25, 2022(1)
432  $ 19.05 
(1) Awards expected to vest are the result of applying the pre-vesting forfeiture rate assumption to total outstanding options. The Company applies estimated forfeiture rates that are derived from our historical forfeitures of similar awards.
Schedule of status of Company's performance based stock units
The table below summarizes the status of the Company's performance stock units under the 2017 Stock Plan (shares in thousands):
Performance Stock Units
Shares Weighted Average Grant-Date Fair Value (per share)
Outstanding, December 26, 2021
 380  $ 28.54 
Awarded 206  26.72 
Forfeited (350) 23.25 
Vested (3) 29.40 
Outstanding, December 25, 2022(1)
233  $ 34.82 
(1) Awards expected to vest are the result of applying the pre-vesting forfeiture rate assumption to total outstanding options. The Company applies estimated forfeiture rates that are derived from our historical forfeitures of similar awards.