Annual report [Section 13 and 15(d), not S-K Item 405]

Equity-Based Compensation (Tables)

v3.25.0.1
Equity-Based Compensation (Tables)
 12 Months Ended
Dec. 28, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Remaining Unrecognized Compensation Expense
The following table shows the remaining unrecognized compensation expense on a pre-tax basis for all types of unvested equity awards that are outstanding and expected to vest, as of December 28, 2024. This table does not include an estimate for future grants that may be issued.
2025 $ 10,973 
2026 7,553 
2027 4,093 
2028 524 
$ 23,143 
Schedule of Weighted-Average Assumptions Used to Calculate Fair Value of Stock Settled Stock Appreciation Rights
The following table includes the weighted-average assumptions the Company used to calculate the fair value of stock-settled stock appreciation rights that were granted during the periods indicated.
Year Ended
2024 2023 2022
Expected volatility (1)
31.28  % 39.89  % N/A
Risk-free interest rate (2)
4.05  % 3.78  % N/A
Expected life (3)
 3.5 yrs
3.5 yrs
 N/A
Expected dividend yield (4)
0.00  % 0.00  % N/A
Weighted-average exercise price (5)
$ 50.85  $ 58.79  N/A
(1)The Company utilizes historical volatility of the trading price of its common stock.
(2)Risk-free interest rate is based on the U.S. Treasury yield curve with respect to the expected life of the award.
(3)Depending upon the terms of the award, one of two methods will be used to calculate expected life:
(i)a weighted-average that includes historical settlement data of the Company’s equity awards and a hypothetical holding period, or (ii) the simplified method.
(4)The Company historically has not paid and currently has no plan to pay dividends.
(5)Exercise price is the closing price of the Company's common stock on the date of grant.
Schedule of Stock-Settled Appreciation Right Activity
A summary of the Company’s stock-settled stock appreciation right activity is as follows:
Shares Weighted-average exercise price Weighted-average remaining
contractual term		 Aggregate intrinsic value*
Outstanding at December 30, 2023 112  $ 63.88  1.1 $ — 
Granted 4  50.85 
Exercised —  — 
Forfeited (5) 55.00 
Expired (87) 62.98 
Outstanding at December 28, 2024 24  $ 66.61  2.1 $ — 
Exercisable at December 28, 2024 10  $ 75.79  2.1 $ — 
* Aggregate intrinsic value is defined as the difference between the current market value at the reporting date (the closing price of the Company’s common stock on the last trading day of the period) and the exercise price of awards that were in-the-money. The closing price of the Company’s common stock at December 28, 2024 and December 30, 2023 was $35.69 and $53.60, respectively.
Schedule of Stock-Settled Restricted Stock Unit Activity
A summary of the Company’s stock-settled restricted stock unit activity is as follows:
Shares Weighted-average grant date fair value
Outstanding at December 30, 2023 490 $ 71.35 
Granted 328 49.84 
Vested (195) 47.85 
Forfeited (31) 61.95 
Outstanding at December 28, 2024 592 $ 59.87 
Schedule of Cash-Settled Restricted Stock Unit Activity
A summary of the Company’s cash-settled restricted stock unit activity is as follows:
Shares Weighted-average grant date fair value
Nonvested at December 30, 2023 22 $ 68.71 
Granted 13 50.53 
Vested (7) 47.30 
Forfeited (7) 13.36 
Nonvested at December 28, 2024 21 $ 59.58 
Schedule of Share-based Payment Award, Performance Stock Units, Valuation Assumptions
The following table includes the weighted-average assumptions the Company used to calculate the fair value of performance stock units that were granted during the periods indicated.
Year Ended Year Ended Year Ended
2024 2023 2022
Expected volatility (1)
N/A 37.84  % N/A
Risk-free interest rate (2)
N/A 4.09  % N/A
Expected dividend yield (3)
N/A —  % N/A
(1)The Company utilizes historical volatility of the trading price of its common stock.
(2)Risk-free interest rate is based on the U.S. Treasury yield curve with respect to the expected life of the award.
(3)The Company historically has not paid and currently has no plan to pay dividends.
Schedule of Market-Based and Performance-Based Condition
Market condition
Performance condition
Target share price
active Customer CAGR
Fiscal year-end 2025 active Customers(1)
Payout as % of target number of shares
$59.84 6% 584,000 100%
$59.84 9% 635,000 150%
$59.84 12% 688,000 200%
(1) Based on active Customer count of 490,000 at December 31, 2022. For purposes of this performance condition, "active Customer" is defined as active Customer in the Company’s direct selling operating segment (discussed further in Note M – Segment Information below), excluding customers from mergers and acquisitions.