Company: CAVA
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-007882
Chunk: 262

Company: CAVA GROUP, INC.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 262
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-average grant date fair value of RSUs during fiscal 2023 and 2022 was $17.52 and $6.74, respectively. The aggregate fair value of shares vested during fiscal 2024, 2023, and 2022 was $64.8 million, $8.5 million, and $2.6 million, respectively.2023 Employee Stock Purchase Plan—In connection with the IPO, the Company’s Board of Directors adopted the 2023 Employee Stock Purchase Plan (the “2023 ESPP”). The 2023 ESPP authorizes issuance of 1.8 million shares of common stock to the Company’s employees of which, 1.7 million were available for issuance as of December 29, 2024. The number of shares of the Company’s common stock reserved for issuance will automatically increase on the first day of each fiscal year ending on December 29, 2032 by the lesser of (i) 1% of the outstanding common stock of the Company on the last day of the immediately preceding fiscal year and (ii) a lower number of shares of our common stock as determined by the Board of Directors. 

The 2023 ESPP allows eligible employees to acquire shares of the Company’s common stock through payroll deduction over offering periods that are approximately six months. The per share purchase price is equal to 85% of the lesser of the fair market value of a share of the Company’s common stock on (i) the first day of the offering period or (ii) the last day of the offering period. During fiscal 2024, the Company issued less than 0.1 million shares under the 2023 ESPP. 

12.    EARNINGS (LOSS) PER SHARE

The following table sets forth the computation of earnings (loss) per common share for the fiscal years indicated:(in thousands, except per share amounts)202420232022Net income (loss)$130,319 $13,280 $(58,987)Weighted-average shares outstanding:Basic114,292 60,512 1,328 Dilutive awards3,981 2,936 — Diluted118,273 63,448 1,328 Earnings (loss) per common share:Basic$1.14 $0.22 $(44.41)Diluted$1.10 $0.21 $(44.41)

80

The Company excluded the following potential