Compensation Plans	6 Months Ended
Jul. 01, 2023
Compensation Plans [Abstract]
COMPENSATION PLANS	NOTE 10 - COMPENSATION PLANS In May 2017, the Company’s shareholders approved the 2017 Stock Incentive Plan (the “2017 SIP”) under which employees, independent contractors, and non-employee directors may be granted stock options, restricted stock, deferred stock awards, and stock appreciation rights, any of which may or may not require the satisfaction of performance objectives. Vesting requirements are determined by the Compensation Committee of the Board of Directors. The Company reserved 750,000 shares for issuance under the 2017 SIP. In June 2023, the Company’s shareholders approved the Company’s 2023 Stock Incentive Plan (the “2023 SIP”) under which employees, independent contractors, and non-employee directors may be granted stock options, restricted stock, deferred stock awards, and stock appreciation rights, any of which may or may not require the satisfaction of performance objectives. Subject to the terms of the 2023 SIP, vesting requirements are determined by the Compensation Committee of the Board of Directors. The Company reserved 1,000,000 new shares for issuance under the 2023 SIP and, further, any unused shares remaining from the 2017 SIP will also be available for future grants under the terms of the 2023 SIP. As of June 30, 2023, 121,034 shares remained unawarded from the 2017 SIP. Since the 2023 SIP was approved by the Company’s shareholders, no additional awards have been or will be granted under the 2017 SIP. Previously granted and outstanding awards under the 2017 SIP will remain subject to the terms of the 2017 SIP. Restricted Stock Units The Company grants performance-based and retention-based restricted stock units to senior employees. The vesting of the performance-based awards is dependent on the achievement of corporate objectives established by the Compensation Committee of the Board of Directors and a three-year vesting period. The retention-based awards are subject only to a three-year vesting period. There were 113,862 restricted stock units issued during the six months ended July 2, 2022. Total compensation costs related to these restricted stock units are $6.0 million. Compensation costs related to all outstanding restricted stock units recognized in the statements of income aggregated $1.1 million and $3.4 million for the three and six months ended July 1, 2023, respectively, and $1.7 million and $3.4 million for the three and six months ended July 2, 2022, respectively.

Compensation Plans

6 Months Ended

Jul. 01, 2023

NOTE 10 - COMPENSATION PLANS

In May 2017, the Company’s shareholders approved the 2017 Stock Incentive Plan (the “2017 SIP”) under which employees, independent contractors, and non-employee directors may be granted stock options, restricted stock, deferred stock awards, and stock appreciation rights, any of which may or may not require the satisfaction of performance objectives. Vesting requirements are determined by the Compensation Committee of the Board of Directors. The Company reserved 750,000 shares for issuance under the 2017 SIP.

In June 2023, the Company’s shareholders approved the Company’s 2023 Stock Incentive Plan (the “2023 SIP”) under which employees, independent contractors, and non-employee directors may be granted stock options, restricted stock, deferred stock awards, and stock appreciation rights, any of which may or may not require the satisfaction of performance objectives. Subject to the terms of the 2023 SIP, vesting requirements are determined by the Compensation Committee of the Board of Directors. The Company reserved 1,000,000 new shares for issuance under the 2023 SIP and, further, any unused shares remaining from the 2017 SIP will also be available for future grants under the terms of the 2023 SIP. As of June 30, 2023, 121,034 shares remained unawarded from the 2017 SIP. Since the 2023 SIP was approved by the Company’s shareholders, no additional awards have been or will be granted under the 2017 SIP. Previously granted and outstanding awards under the 2017 SIP will remain subject to the terms of the 2017 SIP.

Restricted Stock Units

The Company grants performance-based and retention-based restricted stock units to senior employees. The vesting of the performance-based awards is dependent on the achievement of corporate objectives established by the Compensation Committee of the Board of Directors and a three-year vesting period. The retention-based awards are subject only to a three-year vesting period. There were 113,862 restricted stock units issued during the six months ended July 2, 2022. Total compensation costs related to these restricted stock units are $6.0 million.

Compensation costs related to all outstanding restricted stock units recognized in the statements of income aggregated $1.1 million and $3.4 million for the three and six months ended July 1, 2023, respectively, and $1.7 million and $3.4 million for the three and six months ended July 2, 2022, respectively.