Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation

Stock-Based Compensation
12 Months Ended
Dec. 25, 2022
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
The Company has outstanding awards under the 2012 Plan and the 2020 Plan. On July 30, 2020, the Company’s stockholders approved the 2020 Plan, which replaced the 2012 Plan and no further awards may be granted under the 2012 Plan. The termination of the 2012 Plan did not affect outstanding awards granted under the 2012 Plan. Options granted under these plans vest over five years from the date of grant and have a maximum term of ten years. As of December 25, 2022, the Company had 12,344 of stock options outstanding and exercisable with a remaining weighted average contractual term of less than one year.
Restricted stock units granted under the 2012 and 2020 Plan vest over 4 to 5 years from the date of grant. As of December 25, 2022, a total of 876,364 shares of common stock were reserved and remained available for issuance under the 2020 Plan.
Stock-based compensation cost recognized in the consolidated statements of income was approximately $3.8 million, $3.9 million and $3.7 million for the years ended December 25, 2022, December 26, 2021 and December 27, 2020, respectively. Stock-based compensation recognized as capitalized development was approximately $0.2 million for the years ended December 25, 2022, December 26, 2021 and December 27, 2020. Capitalized stock-based compensation is included in Property and equipment, net on the consolidated balance sheets.
A summary of stock-based compensation activity related to restricted stock units for the year ended December 25, 2022 are as follows:
Shares Weighted
Fair Value
Outstanding at December 26, 2021 417,017  $ 24.10 
Granted 146,971  31.13 
Vested (176,233) 23.40 
Forfeited (4,657) 28.55 
Outstanding at December 25, 2022 383,098  $ 27.06  2.51
The fair value of the restricted stock units is the quoted market value of our common stock on the date of grant. As of December 25, 2022, total unrecognized stock-based compensation expense related to non-vested restricted stock units was approximately $7.4 million. This amount is expected to be recognized evenly over the remaining vesting period of the grants.