v3.24.3
Reorganization and Realignment Costs
 9 Months Ended
Sep. 29, 2024
Restructuring and Related Activities [Abstract]  
Reorganization and Realignment Costs Reorganization and Realignment Costs
The following is a summary of the initiatives included in “Reorganization and realignment costs:”
Three Months EndedNine Months Ended
September 29,
2024		October 1,
2023		September 29,
2024		October 1,
2023
Organizational redesign$296 $579 $8,327 $7,986 
Other reorganization and realignment plans58 32 152 114 
Reorganization and realignment costs$354 $611 $8,479 $8,100 
Organizational Redesign

In February 2023, the Board of Directors approved a plan to redesign the Company’s organizational structure to better support the execution of the Company’s long-term growth strategy by maximizing organizational efficiency and streamlining decision making (the “Organizational Redesign Plan”). As a result of the Organizational Redesign Plan, the Company held its general and administrative expense in 2023 relatively flat compared with 2022. Additionally, in January 2024, the Board of Directors announced the appointment of Kirk Tanner as the Company’s new President and Chief Executive Officer, effective February 5, 2024. Mr. Tanner succeeded Todd A. Penegor, the Company’s previous President and Chief Executive Officer, who departed from the Company in February 2024. The Company expects to incur total costs of approximately $18,000 related to the Organizational Redesign Plan, including costs related to the succession of the President and Chief Executive Officer role. During the nine months ended September 29, 2024 and October 1, 2023, the Company recognized costs totaling $8,327 and $7,986, respectively, which primarily included severance and related employee costs. The Company expects to incur additional costs aggregating approximately $800, comprised primarily of share-based compensation. The Company expects costs related to the Organizational Redesign Plan to continue into 2026.

The following is a summary of the costs recorded as a result of the Organizational Redesign Plan:
Three Months EndedNine Months EndedTotal Incurred Since Inception
September 29,
2024		October 1,
2023		September 29,
2024		October 1,
2023
Severance and related employee costs$12 $114 $7,322 $5,674 $13,565 
Recruitment and relocation costs75 140 157 304 711 
Third-party and other costs57 173 120 904 1,117 
144 427 7,599 6,882 15,393 
Share-based compensation (a)152 152 728 1,104 1,998 
Total organizational redesign$296 $579 $8,327 $7,986 $17,391 
_______________

(a)Primarily represents the accelerated recognition of share-based compensation resulting from the termination of employees under the Organizational Redesign Plan.

As of September 29, 2024, the accruals for the Organizational Redesign Plan are included in “Accrued expenses and other current liabilities” and “Other liabilities” and totaled $4,210 and $1,215, respectively. The tables below present a rollforward of our accruals for the Organizational Redesign Plan.
Balance
December 31,
2023
ChargesPayments
Balance
September 29,
2024
Severance and related employee costs$1,692 $7,322 $(3,589)$5,425 
Recruitment and relocation costs— 157 (157)— 
Third-party and other costs— 120 (120)— 
$1,692 $7,599 $(3,866)$5,425 

Balance
January 1,
2023		ChargesPaymentsBalance
October 1,
2023
Severance and related employee costs$— $5,674 $(3,524)$2,150 
Recruitment and relocation costs— 304 (304)— 
Third-party and other costs— 904 (904)— 
$— $6,882 $(4,732)$2,150 
Other Reorganization and Realignment Plans

Costs incurred under the Company’s other reorganization and realignment plans were not material during the nine months ended September 29, 2024 and October 1, 2023. The Company does not expect to incur any material additional costs under these plans.