Company: CAVA
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-007882
Chunk: 261

Company: CAVA GROUP, INC.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 261
---
ested and expected to vest - December 29, 20242,264 $13.96 6.9$227,328 As of December 29, 2024, there was $8.9 million of unrecognized compensation costs related to option awards. This cost is expected to be recognized over a weighted-average period of 3.0 years. The aggregate intrinsic value of options exercised during fiscal 2024, 2023, and 2022, was $99.3 million, $1.1 million, and $0.1 million, respectively.The following table reflects the weighted-average assumptions utilized in the Black-Scholes option pricing model during the fiscal years indicated:202420232022Expected term (in years)16.36.46.2Volatility246.7%46.0%45.0%Risk-free interest rate4.1%3.8%1.7%Dividend rate—%—%—%Weighted-average grant date fair value per share$24.47$9.98$2.97

79

__________________1    Expected term was calculated using the simplified method, which is an average of the contractual term and vesting period of the option, as we do not have sufficient historical data for determining the expected term of our stock option awards. 2    Volatility was based on a group of industry peers with sufficient history. Restricted Stock Units—Vesting terms of RSUs are determined by our Board of Directors and generally vest annually in equal installments over four years of continuous service, except for 0.3 million RSUs that were granted to the Company’s CEO in connection with the IPO that vest over five years of continuous service. A summary of the Company’s restricted stock unit activity is as follows:(in thousands, except per share amounts)Number of UnitsWeighted-Average Grant Date Fair ValueAggregate Intrinsic ValueNon-vested - December 31, 20232,653 $12.69 $113,985 Granted34 63.24 Vested(900)10.42 Forfeited(151)14.98 Non-vested - December 29, 20241,636 $14.79 $187,109 As of December 29, 2024, there was $18.4 million of unrecognized compensation expense related to RSU awards. This cost is expected to be recognized over a weighted-average period of 2.6 years. The weighted