Stock-Based Compensation (Tables)

9 Months Ended

Oct. 03, 2023

Stock-Based Compensation

Schedule of information related to stock-based compensation, net of forfeitures

The following table presents information related to stock-based compensation, net of forfeitures (in thousands):

	Thirteen		Thirteen		Thirty-Nine		Thirty-Nine
	Weeks Ended		Weeks Ended		Weeks Ended		Weeks Ended
	October 3, 2023		September 27, 2022		October 3, 2023		September 27, 2022
Labor expenses	$	2,365	$	2,237	$	7,153	$	6,621
Other operating costs and expenses		76		74		227		224
General and administrative expenses		4,182		3,302		11,470		10,375
Total stock-based compensation		6,623		5,613		18,850		17,220
Income tax benefit		1,653		1,379		4,706		4,229
Total stock-based compensation, net of taxes	$	4,970	$	4,234	$	14,144	$	12,991
Capitalized stock-based compensation (1)	$	44	$	52	$	131	$	161

(1) It is our policy to capitalize the portion of stock-based compensation costs for our internal development department that relates to capitalizable activities such as the design and construction of new restaurants, remodeling existing locations and equipment installation. Capitalized stock-based compensation is included in property and equipment, net on the condensed consolidated balance sheets.

Schedule of stock option activity

				Weighted-
				Average
		Weighted-		Remaining
		Average		Contractual	Aggregate
	Shares	Exercise Price		Term	Intrinsic Value (1)
	(In thousands)	(Per share)		(In years)	(In thousands)
Outstanding at January 3, 2023	1,685	$	46.11	4.2	$	—
Granted	40		40.42
Exercised	—		—
Forfeited or cancelled	(175)		48.01
Outstanding at October 3, 2023	1,550	$	45.75	4.0	$	—
Exercisable at October 3, 2023	1,199	$	47.11	3.4	$	—

(1) Aggregate intrinsic value is calculated as the difference between our closing stock price at fiscal period end and the exercise price, multiplied by the number of in-the-money options and represents the pre-tax amount that would have been received by the option holders, had they all exercised their options on the fiscal period-end date.

Schedule of restricted share and restricted share unit activity

		Weighted-
		Average
	Shares	Fair Value
	(In thousands)	(Per share)
Outstanding at January 3, 2023	2,512	$	41.93
Granted	887		38.75
Vested	(459)		43.24
Forfeited	(110)		39.78
Outstanding at October 3, 2023	2,830	$	40.81