Company: CHEF
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001517175-25-000002
Chunk: 108

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 108
---
 30, 2022Net income per share:   Basic$1.46 $0.92 $0.75 Diluted$1.32 $0.88 $0.73 Weighted average common shares:   Basic37,914,060 37,633,672 37,094,220 Diluted45,983,065 45,639,220 38,742,328 Reconciliation of net income per common share: Fiscal Years Ended December 27, 2024December 29, 2023December 30, 2022Numerator:   Net income$55,479 $34,590 $27,750 Add effect of dilutive securities:   Interest on convertible notes, net of tax5,234 5,399 580 Net income available to common shareholders$60,713 $39,989 $28,330 Denominator:   Weighted average basic common shares outstanding37,914,060 37,633,672 37,094,220 Dilutive effect of unvested common shares687,524 574,707 638,293 Dilutive effect of stock options and warrants57,540 38,024 66,719 Dilutive effect of convertible notes7,323,941 7,392,817 943,096 Weighted average diluted common shares outstanding45,983,065 45,639,220 38,742,328 

58

Potentially dilutive securities that have been excluded from the calculation of diluted net income per common share because the effect is anti-dilutive are as follows: Fiscal Years Ended December 27, 2024December 29, 2023December 30, 2022Restricted share awards and restricted share units270,751 532,608 906 Stock options and warrants— 300,000 — Convertible notes— — 392,732 

Note 4 – Fair Value Measurements

 Assets and Liabilities Measured at Fair Value The Company’s contingent earn-out liabilities are measured at fair value. These liabilities were estimated using Level 3 inputs. The fair value of contingent consideration are predominantly determined based on a probability-based approach which includes projected results, percentage probability of occurrence and the application of a discount rate to present value the payments. A significant change in projected results, discount rate,