Company: CHEF
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001517175-25-000002
Chunk: 122

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 122
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 (the “Unsecured Note”) that matured on June 29, 2023 as partial consideration for an acquisition. The Unsecured Note and was repaid in full, including all accrued interest, for $4,049 in cash.Convertible NotesThe net carry value of the Company’s convertible senior notes as of December 27, 2024 and December 29, 2023 was:December 27, 2024December 29, 2023Principal AmountUnamortized Deferred Costs and PremiumNet AmountPrincipal AmountUnamortized Deferred Costs and PremiumNet Amount2028 Convertible Notes$287,500 $(4,584)$282,916 $287,500 $(5,730)$281,770 2024 Convertible Notes— — — 39,684 (185)39,499 Total$287,500 $(4,584)$282,916 $327,184 $(5,915)$321,269 

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The components of interest expense on the Company’s convertible notes were as follows: Fiscal Years Ended December 27, 2024December 29, 2023December 30, 2022Coupon interest$7,572 $7,578 $4,272 Amortization of deferred costs and premium1,332 1,334 932 Loss on extinguishment of debt— — 14,145 Total interest$8,904 $8,912 $19,349 

Note 10 – Stockholders’ Equity

WarrantsIn connection with an acquisition during fiscal 2022, the Company issued warrants with a fair value of $1,701 to purchase up to 150,000 shares of the Company’s common stock at an exercise price of $31.55 per share. These warrants expire on December 26, 2025. At December 27, 2024, there were 27,908 warrants outstanding.2023 Employee Stock Purchase PlanOn May 12, 2023, the Company’s stockholders adopted the Company’s Employee Stock Purchase Plan (the “ESPP”), which permits participants to purchase a total of 793,402 shares of the Company’s common stock through payroll deductions of up to 10% of eligible compensation. The purchase price of the shares will be 85% of the fair market value of the common stock on the date of purchase. The plan does not include any look-back or reset provisions. The