Note 13 – Stock-Based Compensation

Stock-Based Compensation

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As of June 28, 2026, the Company had 2,865,293 shares available for issuance under the Company’s 2019 Equity Incentive Plan (the “2019 Equity Plan”).

Stock-based compensation cost for the three periods ended June 28, 2026 and June 29, 2025 was $1.1 million and $1.5 million, respectively and for the six periods ended June 28, 2026 and June 29, 2025 was $2.3 million and $3.1 million, respectively. Stock-based compensation is included in general and administrative expenses in the condensed consolidated statements of operations. Included in stock-based compensation cost was $0.2 million and $0.4 million of cost related to unrestricted stock granted to directors for the three and six periods ended June 28, 2026 and June 29, 2025, respectively. Such grants were awarded consistent with the Board of Director’s compensation practices. Stock-based compensation for the three and six periods ended June 28, 2026, included $0.3 million and $0.5 million, respectively, of compensation costs for performance stock units that contain both a market condition and time element (“PSUs”), compared to $0.2 million and $0.5 million for the three and six periods ended June 29, 2025, respectively.

Stock Option Activity

Stock options in the table below include time-based awards. Changes in stock options during the six periods ended June 28, 2026 were as follows:

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As of June 28, 2026 and December 28, 2025, there were no unvested stock options.

Restricted Stock Unit Activity

The Company issues restricted stock units (“RSUs”) under the 2019 Equity Plan. RSUs in the table below include time-based awards. The fair value of time-based RSUs is determined based upon the closing market value of the Company’s common stock on the grant date.

A summary of the status of RSUs and changes during the six periods ended June 28, 2026 is presented below:

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As of June 28, 2026, the Company had approximately $3.8 million of unrecognized compensation costs related to RSUs, which will be recognized over a weighted average period of 2.0 years.

The fair value of RSUs vested during the three and six periods ended June 28, 2026, was $0.4 million and $1.5 million, respectively.

Performance Stock Unit Activity

The Company issues PSUs under the 2019 Equity Plan. PSUs in the table below include both a market condition and time element. The PSUs may be earned based on achieving common stock price targets within a time period, and if earned, will vest and be settled based on a time element specified in the respective agreement. 

A summary of the status of PSUs and changes during the six periods ended June 28, 2026 is presented below:

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As of June 28, 2026, the Company had $0.7 million of unrecognized compensation costs related to PSUs, which will be recognized over a weighted average period of 1.7 years.