Share-Based Compensation

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

During the three months ended March 31, 2026, the Company granted restricted stock, restricted stock units (RSUs) and performance stock units (PSUs) to certain executives and associates. A summary of the Company’s stock option, restricted stock, RSU and PSU activity follows, with PSUs reflected at the target achievement percentage until the completion of the performance period (shares in thousands).


	Stock Options			Restricted Stock & RSUs			PSUs
	Options	Weighted-Average Exercise Price		Shares / Units	Weighted-Average Fair Value		Units	Weighted-Average Fair Value
December 31, 2025	2,709	$	23.38	825	$	15.85	233	$	17.80
Granted	—	—		250	16.12		150	16.12
Exercised (1)	(3)	15.47		—	—		—	—
Vested (2)	—	—		(143)	15.41		—	—
Forfeited	(87)	18.66		(2)	20.40		(2)	20.40
March 31, 2026	2,619	$	23.55	930	$	16.68	381	$	17.13

(1)Exercise activity only applicable to stock options.

(2)Vesting activity not applicable to stock options.

Share-based compensation expense was $3,824 during the three months ended March 31, 2026, and $3,545 during the three months ended March 31, 2025. As of March 31, 2026, total unrecognized share-based compensation expense related to stock options was $431, which will be amortized to expense over the weighted-average remaining life of 1.0 year. As of March 31, 2026, total unrecognized share-based compensation expense related to non-vested restricted stock, RSUs and PSUs was $8,497, which will be amortized over the weighted-average remaining service period of 2.2 years.

Shareholders of The Marcus Corporation approved the adoption of the Marcus Corporation Omnibus Incentive Plan effective May 7, 2025 and authorized 2,000,000 shares available for issuance under the plan. At March 31, 2026, there were 1,603,111 shares available for grants of various equity awards under the plan.

MARCUS CORP 10-Q