v3.24.1.u1
Share-based Awards (Tables)
3 Months Ended
Mar. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
The following table summarizes stock option activity under all equity incentive plans during the 13 weeks ended March 30, 2024:
Time-Based Stock OptionsPerformance-Based Stock Options
Number of OptionsWeighted-Average
Exercise Price
Number of OptionsWeighted-Average
Exercise Price
Options outstanding as of December 30, 2023
2,091,523$12.97227,605$6.62
Exercised(453,640)7.34(29,775)3.81
Options outstanding as of March 30, 2024
1,637,883$14.53197,830$7.05
Options vested and exercisable as of March 30, 2024
1,627,850$14.53197,830$7.05
Schedule of RSU Activity
The following table summarizes restricted stock unit ("RSU") activity under all equity incentive plans during the 13 weeks ended March 30, 2024:
Number of SharesWeighted-Average
Grant Date Fair Value
Unvested balance as of December 30, 2023
857,820 $28.82 
Granted575,389 25.79 
Vested(339,198)29.73 
Forfeitures(4,957)28.08 
Unvested balance as of March 30, 2024
1,089,054 $26.94 
Schedule of PSU Activity
The following table summarizes performance-based restricted stock unit ("PSU") activity under the Grocery Outlet Holding Corp. 2019 Incentive Plan during the 13 weeks ended March 30, 2024:
Number of SharesWeighted-Average
Grant Date Fair Value
Unvested balance as of December 30, 2023
1,753,989 $29.50 
Granted (1)
559,861 25.79 
Adjustment for expected performance achievement (2)
88,817 27.34 
Vested(301,392)35.45 
Forfeitures(2,364)27.77 
Unvested balance as of March 30, 2024 (3)
2,098,911 $27.57 
_______________________
(1)Represents initial grant of PSUs based on performance target level achievement of 100%.
(2)Represents the year-to-date adjustment to previously granted PSUs based on performance expectations as of March 30, 2024.
(3)An additional 648,189 PSUs could potentially be included if the maximum performance level of 200% is reached for all PSUs outstanding as of March 30, 2024.
Schedule of Share-Based Compensation Expense
Share-based compensation expense consisted of the following (amounts in thousands):
13 Weeks Ended
March 30,
2024
April 1,
2023
Time-based stock options$9 $408 
RSUs3,236 2,495 
PSUs4,897 3,773 
Share-based compensation expense$8,142 $6,676