Company: CAVA
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-007882
Chunk: 250

Company: CAVA GROUP, INC.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 250
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 the accounting standards election, during the time in which it was an emerging growth company, the Company was not subject to the same implementation timing for new or revised accounting standards as other public companies that were not emerging growth companies and, as a result, the Company’s financial statements may not have been comparable to companies that complied with new or revised accounting pronouncements as of public company effective dates.As of July 12, 2024, the last trading day of the Company’s most recently completed second fiscal quarter, the market value of the Company’s common stock held by non-affiliates exceeded $700.0 million. As a result, the Company became a large accelerated filer as of the end of fiscal 2024 and is no longer an emerging growth company. As a large accelerated filer, the Company is subject to certain disclosure and compliance requirements that apply to other public companies that did not previously apply to the Company due to its status as an emerging growth company. These requirements include, but are not limited to: the requirement that the Company’s independent registered public accounting firm attest to the effectiveness of the Company’s internal control over financial reporting under Section 404 of the Sarbanes-Oxley Act of 2002; compliance with any requirements that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditors’ report providing additional information about the audit and the financial statements; the requirement that the Company provide more detailed disclosures regarding executive 

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compensation; and the requirement that the Company hold a non-binding advisory vote on executive compensation and obtain stockholder approval of any golden parachute payments not previously approved.Recently Adopted Accounting Standards—In November 2023, the Financial Accounting Standards Board (“FASB”), issued Accounting Standards Updated (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves reportable segment disclosure through enhanced disclosures about significant segment expenses. The Company adopted the guidance beginning with its consolidated financial statements for the fiscal year ended December 29, 2024, which includes additional segment expense disclosures, among other items.Recently Issued Accounting Standards— In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which improves income tax disclosures through enhanced disaggregation within the rate reconciliation table and disaggregation of income taxes paid by jurisdiction. The amendment is effective for fiscal years beginning after December 15