Company: CHEF
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001517175-25-000008
Chunk: 37

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 8
Chunk 37
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 the Company made voluntary principal prepayments totaling $6,000 towards the senior secured term loan. In connection with the prepayments, the Company wrote-off unamortized deferred financing fees of $239 during the thirteen weeks ended March 29, 2024, which were included in interest expense within the Company’s condensed consolidated statements of operations.Convertible NotesThe net carrying value of the Company’s 2028 convertible senior notes as of March 28, 2025 and December 27, 2024 was:March 28, 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.

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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