STOCK-BASED COMPENSATION (Tables)
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12 Months Ended |
Dec. 30, 2023 |
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| Share-Based Payment Arrangement [Abstract] |
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| Summary of recorded stock-based compensation cost |
The Company recorded stock-based compensation cost as follows: | | | | | | | | | | | | | | | | | | | For the fiscal years ended | | (dollars in thousands) | December 30, 2023 | | December 31, 2022 | | January 1, 2022 | | Stock options | $ | — | | | $ | 189 | | | $ | 1,347 | | | Restricted stock: | | | | | | | Time-based awards | 17,243 | | | 17,893 | | | 14,756 | | Performance-based awards(*) | 670 | | | 2,091 | | | 3,608 | | | Stock awards | 1,550 | | | 1,706 | | | 1,318 | | | Total | $ | 19,463 | | | $ | 21,879 | | | $ | 21,029 | |
(*)Decrease in fiscal 2023 relates to the downward revision of estimates for the achievement of performance targets related to certain performance-based grants.
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| Summary of stock option activity |
Changes in the Company’s stock options for the fiscal year ended December 30, 2023 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Number of shares | | Weighted- average exercise price | | Weighted-average remaining contractual terms (years) | | Aggregate intrinsic value
(in thousands) | | Outstanding, December 31, 2022 | 563,048 | | | $ | 92.99 | | | | | | | | | | | | | | Granted(*) | — | | | $ | — | | | | | | | Exercised | (64,700) | | | $ | 68.29 | | | | | | | Forfeited | — | | | $ | — | | | | | | | Expired | (51,517) | | | $ | 96.18 | | | | | | | Outstanding, December 30, 2023 | 446,831 | | | $ | 96.20 | | | 2.95 | | $ | — | | | | | | | | | | | Vested and expected to vest, December 30, 2023 | 446,831 | | | $ | 96.20 | | | 2.95 | | $ | — | | | Exercisable, December 30, 2023 | 446,831 | | | $ | 96.20 | | | 2.95 | | $ | — | |
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| Summary of restricted stock award activity |
The following table summarizes activity related to all restricted stock awards during the fiscal year ended December 30, 2023: | | | | | | | | | | | | | Restricted
stock
awards | | Weighted-average grant-date
fair value | | Outstanding, December 31, 2022 | 629,686 | | | $ | 94.71 | | | Granted | 408,643 | | | $ | 73.33 | | | Vested | (184,803) | | | $ | 91.84 | | | Forfeited | (98,237) | | | $ | 88.70 | | | Outstanding, December 30, 2023 | 755,289 | | | $ | 84.63 | |
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| Summary of issued shares of common stock to non-management board members |
| | | | | | | | | | | | | | | | Fiscal year | | Number of shares granted | | Weighted-average fair value per share | 2021(*) | | — | | | $ | — | | | 2022 | | 89,760 | | | $ | 91.12 | | | 2023 | | 112,284 | | | $ | 74.06 | |
(*)The Company did not grant any performance-based restricted stock awards in fiscal 2021. During fiscal years 2023, 2022, and 2021, such awards were as follows: | | | | | | | | | | | | | | | | | | | | | | Fiscal year | | Number of shares issued | | Fair value per share | | Aggregate value
(in thousands) | | 2021 | | 13,037 | | $ | 101.09 | | | $ | 1,318 | | | 2022 | | 21,725 | | $ | 78.51 | | | $ | 1,706 | | | 2023 | | 23,850 | | $ | 65.01 | | | $ | 1,550 | |
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