Company: CAVA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049080
Chunk: 21

Company: CAVA GROUP, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 21
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 under successful claims could materially and adversely affect the Company’s business, financial condition, results of operations, or cash flows.Investments—Refer to Note 3 (Investments) for information regarding the Company’s commitment related to an investment in a convertible promissory note.

10.    EQUITY-BASED COMPENSATION

The Company recognized equity-based compensation expense (including applicable payroll taxes) of $3.3 million and $14.5 million during the twelve and forty weeks ended October 5, 2025, and $3.5 million and $12.2 million during the twelve and forty weeks ended October 6, 2024, respectively, related to its equity incentive plans and employee stock purchase plan, recorded within general and administrative expenses in the accompanying unaudited condensed consolidated statements of operations.A summary of the Company’s stock option activity is as follows:Weighted Average(in thousands, except per share amounts)Number Of OptionsExercise PriceRemaining Contractual Term (Years)Aggregate Intrinsic ValueOutstanding - December 29, 20242,264 $13.96 6.9$227,328 Granted107 95.03 Exercised(195)4.10 Forfeited or expired(83)28.48 Outstanding - October 5, 20252,093 $18.45 6.6$97,295 Exercisable - October 5, 20251,255 $12.42 5.8Vested and expected to vest - October 5, 20252,093 $18.45 6.6$97,295 

12

As of October 5, 2025, unrecognized compensation expense related to option awards was $10.0 million, which is expected to be recognized over a weighted-average period of 2.7 years.A summary of the Company’s restricted stock unit (“RSU”) activity is as follows:(in thousands, except per share amounts)Number of UnitsWeighted-Average Grant Date Fair ValueAggregate Intrinsic ValueNon-vested - December 29, 20241,636 $14.79 $187,109 Granted152 92.10 Vested(666)12.74 Forfeited(132)22.62 Non-vested - October 5, 2025990 $26.99 $62,895 

As of October 5, 2025, unrecognized