Stock-Based Compensation |
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| 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 31, 2023, the Company had 1,422 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 31, 2023, a total of 743,699 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 $4.1 million, $3.8 million and $3.9 million for the fiscal years ended December 31, 2023, December 25, 2022 and December 26, 2021, respectively. Stock-based compensation recognized as capitalized development was approximately $0.2 million for the fiscal years ended December 31, 2023, December 25, 2022 and December 26, 2021. Capitalized stock-based compensation is included in Property and equipment, net on the consolidated balance sheets.
On July 27, 2023, the Company’s stockholders approved the 2023 Employee Stock Purchase Plan ("the 2023 ESPP"). As of December 31, 2023, the Company had 500,000 shares of common stock reserved and available for issuance under the 2023 ESPP. As of December 31, 2023, there has not been any offering period or purchase period under the 2023 ESPP, and no such period will begin unless and until determined by the administrator.
A summary of stock-based compensation activity related to restricted stock units for the year ended December 31, 2023 are as follows:
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