What was the stock-based compensation expense for Brueggers Bagels?
Brueggers_Bagels Franchise · 2025 FDDAnswer from 2025 FDD Document
blic companies in a similar line of business. From the comparable public companies, a representative market value multiple is determined and then applied to the Company's financial metrics. Total stock-based compensation expense for awards issued under the CCOC-LTIP and CCOC-EOP for the fiscal years ended December 31, 2024, December 26, 2023, and December 27, 2022 was $3.4 million, $3.8 million, and $2.2 million, respectively, and is included in general and administrative expenses on the consolidated statements of operations.
13. Noncontrolling Interests Subject to Put Provisions and Stock-Based Compensation (continued)
Caribou Coffee Operating Company Long-Term Incentive Plan and Executive Ownership Plan
Stock option activity during the fiscal years ended December 31, 2024 and December 26, 2023 is as follows (in thousands, except per share and life data):
| Options Outstanding | Number of Shares | Weighted Average Exercise Price | Weighted Average Contract Life |
|---|---|---|---|
| Outstanding, December 27, 2022 | 75 | $ 29.29 | 6.8 years |
| Granted | - | - | |
| Exercised | (2) | 27.91 | |
| Expired |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 61)
What This Means (2025 FDD)
According to Brueggers Bagels' 2025 Franchise Disclosure Document, the total stock-based compensation expense for awards issued under the CCOC-LTIP and CCOC-EOP for the fiscal year ended December 31, 2024, was $3.4 million. For the fiscal year ended December 26, 2023, the expense was $3.8 million, and for the fiscal year ended December 27, 2022, it was $2.2 million. These expenses are included in general and administrative expenses on the consolidated statements of operations.
Additionally, the document states that the Company, CCOC, and ENRGI discounted new shareholder loans to present value and recorded a discount of $0.4 million as stock-based compensation expense for the fiscal year ended December 31, 2024. For the fiscal year ended December 26, 2023, the expense was $0.3 million, and for the fiscal year ended December 27, 2022, it was less than $0.1 million. These amounts are also included in general and administrative expenses on the consolidated statement of operations.
Furthermore, stock-based compensation expense for the ENRGI-LTIP and ENRGI-EOP was $5.0 million for the fiscal year ended December 31, 2024. For the fiscal year ended December 26, 2023, the expense was $5.3 million, and for the fiscal year ended December 27, 2022, it was $3.9 million. These expenses are also included in general and administrative expenses on the consolidated statements of operations. Finally, total stock-based compensation expense for all CCCI C-LTIP and matching awards under the C-EOP plans for the fiscal years ended December 31, 2024, December 26, 2023, and December 27, 2022 was $0.4 million, $0.7 million, and $1.3 million, respectively, and is included in general and administrative expenses on the consolidated statements of operations.
These figures represent the expenses recognized by Brueggers Bagels for stock-based compensation plans, which are non-cash expenses that reflect the value of stock options and other equity-based awards granted to employees and shareholders. Prospective franchisees should understand that these expenses can impact the company's overall financial performance and may be relevant when assessing the financial health and stability of the franchise system.