Company: CHEF
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001517175-25-000008
Chunk: 20

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 20
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, 2025December 27, 2024Principal AmountUnamortized Deferred CostsNet AmountPrincipal AmountUnamortized Deferred CostsNet Amount2028 Convertible Notes$287,500 $(4,297)$283,203 $287,500 $(4,584)$282,916 The components of interest expense on the Company’s convertible notes were as follows: Thirteen Weeks Ended March 28, 2025March 29, 2024Coupon interest$1,707 $1,893 Amortization of deferred costs and premium286 333 Total interest$1,993 $2,226 As of March 28, 2025, the Company had reserved $37,575 of its asset-based loan facility for the issuance of letters of credit and funds totaling $162,425 were available for borrowing.

12

Note 9 – Stockholders’ Equity

Equity AwardsThe following table reflects the activity of RSAs and RSUs during the thirteen weeks ended March 28, 2025:Time-basedPerformance-basedMarket-basedSharesWeighted AverageGrant Date Fair ValueSharesWeighted AverageGrant Date Fair ValueSharesWeighted AverageGrant Date Fair ValueUnvested at December 27, 2024483,284 $35.68 881,500 $34.79 303,036 $30.04 Granted192,089 63.67 528,973 63.67 35,101 61.16 Vested(158,796)34.80 (162,351)32.45 (162,351)29.12 Forfeited(8,543)37.37 (149,880)33.52 — — Unvested at March 28, 2025508,034 $46.51 1,098,242 $49.22 175,786 $37.10 The Company granted 756,163 RSAs and RSUs to its employees and directors at a weighted average grant date fair value of $63.55 during the thirteen weeks ended March 28, 2025. These awards are a mix of time-, market- and performance-based grants that generally vest over a range of periods up to five years. The Company recognized expense on its RSAs and RSUs totaling $4,121 and $3,590 during the thirteen weeks ended March 28, 2025