Note 3 – Stockholders’ Equity and Share-Based Compensation

Options and Restricted Stock Units

The Company had the following common stock option activity during the twenty-six weeks ended July 1, 2023:

The following table summarizes the Company’s restricted stock unit ("RSU") activity for the twenty-six weeks ended July 1, 2023, and details regarding the awards outstanding and exercisable as of July 1, 2023 (in thousands):

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During the twenty-six weeks ended July 1, 2023, 658 RSUs that vested were time-based and 269 were performance-based.

For the thirteen and twenty-six weeks ended July 1, 2023, we recorded compensation costs related to stock options and RSUs of $2,937 and $7,107, respectively. For the thirteen and twenty-six weeks ended July 2, 2022, we recorded compensation costs related to stock options and RSUs of $771 and $5,077, of which $0 and $81 related to common shares issued to consultants as part of their compensation for services provided during those respective periods. As of July 1, 2023, there was unrecognized compensation expense related to stock options and RSUs of $26,503 that will be expensed through June 2027.

Stock Repurchase Program

On July 27, 2021, the Company’s Board of Directors authorized a stock repurchase program under which the Company may purchase up to $30 million of the Company’s common stock from time to time. The repurchases of common stock may be executed through open market purchases, block trades, the implementation of a 10b5-1 plan, and/or any other available methods. During the twenty-six weeks ended July 1, 2023, the Company repurchased 250 shares of its common stock at a total cost of $1,047, excluding commissions, at an average price of $4.19 per share. During the twenty-six weeks ended July 2, 2022, the Company did not repurchase any shares of its common stock. As of July 1, 2023, the Company remained authorized to repurchase up to approximately $28,473 in shares of its common stock.