Company: CHEF
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001517175-25-000002
Chunk: 125

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 125
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 total unrecognized compensation cost for the unvested RSAs and RSUs was $19,797 to be recognized over a weighted-average period of approximately 1.7 years. Of this total, $10,936 related to awards with time-based vesting provisions to be recognized over a weighted average period of 1.6 years and $8,861 related to awards with performance- or market-based vesting provisions to be recognized over a weighted average period of 1.8 years. The following table summarizes stock option activity during the fiscal year ended December 27, 2024:SharesWeightedAverageExercise PriceAggregateIntrinsicValueWeighted AverageRemaining ContractualTerm (in years)Outstanding December 29, 2023109,527 $20.23 $1,008 2.2Exercised(8,651)20.23 Outstanding December 27, 2024100,876 $20.23 $2,870 1.1Exercisable at December 27, 2024100,876 20.23 $2,870 1.1The total intrinsic value of options exercised during fiscal 2024, 2023 and 2022 was $194, $22 and $63, respectively. The Company issues new shares upon the exercise of stock options. No stock option expense was recognized during the fiscal years ended December 27, 2024, December 29, 2023 and December 30, 2022.In connection with the CME acquisition, the Company issued stock awards to certain members of the CME management team which were classified as liabilities. These awards vest over a period of up to four years. Stock-based compensation expense for these awards was $2,175, $2,175 and $362 during the fiscal years ended December 27, 2024, December 29, 2023 and December 30, 2022, respectively. As of December 27, 2024 and December 29, 2023, the fair value of these awards was $4,712 and $2,537, respectively, and they are presented within accrued liabilities on the Company’s consolidated balance sheets.Share Repurchase ProgramIn November 2023, the Company announced a two-year share repurchase program in an amount up to $100,000. The remaining share purchase authorization was $82,617 at December 27, 2024. The Company is not obligated to repurchase any specific number of