
	Number of Shares (in millions)	Weighted Average Grant Date Fair Value		Aggregate Fair Value (1) (in millions)
Beginning outstanding balance	7.4	$	449.94
Awarded	4.6	$	368.45
Released	(3.0)	$	430.69
Forfeited	(0.4)	$	441.31

Ending outstanding balance	8.6	$	413.42	$	4,846

Expected to vest	7.7	$	414.19	$	4,320

(1) The aggregate fair value is calculated using the closing stock price as of September 1, 2023 of $563.21.

The total fair value of restricted stock units vested during the nine months ended September 1, 2023 was $1.20 billion.

In the first quarter of fiscal 2023, the Executive Compensation Committee of our Board of Directors (the “ECC”) approved the 2023 Performance Share Program, the terms of which are similar to the 2022 Performance Share Program that is still outstanding. For information regarding our outstanding Performance Share Programs, including the terms, see “Note 12. Stock-Based Compensation” of our Annual Report on Form 10-K for the fiscal year ended December 2, 2022.

As of September 1, 2023, the shares awarded under our 2023, 2022 and 2021 Performance Share Programs remained outstanding and were yet to be earned.


	Number of Shares (in millions)	Weighted Average Grant Date Fair Value		Aggregate Fair Value (1) (in millions)
Beginning outstanding balance	0.4	$	495.23
Awarded	0.2	$	437.58
Released	(0.1)	$	498.74
Forfeited	—	$	492.68
Ending outstanding balance	0.5	$	465.76	$	263

Expected to vest	0.4	$	466.10	$	232

(1) The aggregate fair value is calculated using the closing stock price as of September 1, 2023 of $563.21.

Under our Performance Share Programs, participants generally have the ability to receive up to 200% of the target number of shares originally granted. Shares released during the nine months ended September 1, 2023 resulted from 63% achievement of target for the 2020 Performance Share Program, as certified by the ECC in the first quarter of fiscal 2023.

The total fair value of performance shares vested during the nine months ended September 1, 2023 was $39 million.

Employees purchased 1.1 million shares at an average price of $286.31 and 0.8 million shares at an average price of $333.92 for the nine months ended September 1, 2023 and September 2, 2022, respectively. The intrinsic value of shares purchased during the nine months ended September 1, 2023 and September 2, 2022 was $185 million and $73 million, respectively. The intrinsic value is calculated as the difference between the market value on the date of purchase and the purchase price of the shares.

As of September 1, 2023, there was $3.17 billion of unrecognized compensation cost, adjusted for estimated forfeitures, related to non-vested stock-based awards and purchase rights which will be recognized over a weighted average period of 2.44 years. Total unrecognized compensation cost will be adjusted for future changes in estimated forfeitures.

Total stock-based compensation costs included in our condensed consolidated statements of income for the three and nine months ended September 1, 2023 and September 2, 2022 were as follows:


	Three Months				Nine Months
(in millions)	2023		2022		2023		2022
Cost of revenue	$	30	$	26	$	88	$	71
Research and development	224		189		657		527
Sales and marketing	130		112		375		305
General and administrative	58		51		171		149
Total	$	442	$	378	$	1,291	$	1,052