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Employee Stock Purchase and Stock Option Plans | 12 Months Ended
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Sep. 27, 2019
Share-based Payment Arrangement [Abstract] |
Employee Stock Purchase and Stock Option Plans | Employee Stock Purchase and Stock Option Plans Employee Stock Purchase Plans Under the 1989 ESPP and the GESPP, eligible employees who elect to participate in these plans are granted the right to purchase shares of the common stock of Jacobs at a discount that is limited to 5% of the per-share market value on the day shares are sold to employees. The following table summarizes the stock issuance activity under the 1989 ESPP and the GESPP for the fiscal years ended September 27, 2019, September 28, 2018 and September 29, 2017:
| For the Years Ended
| September 27, 2019 |  | September 28, 2018 |  | September 29, 2017
Aggregate Purchase Price Paid for Shares Sold: |  |  |  |  |  |  |  |
Under the 1989 ESPP | $ | 24,824,232 |  |  | $ | 21,590,858 |  |  | $ | 21,084,657 |
Under the GESPP | 2,471,193 |  |  | 2,240,609 |  |  | 2,105,834 |
Total | $ | 27,295,425 |  |  | $ | 23,831,467 |  |  | $ | 23,190,491 |
Aggregate Number of Shares Sold: |  |  |  |  |  |  |  |
Under the 1989 ESPP | 354,580 |  |  | 357,899 |  |  | 403,652 |
Under the GESPP | 34,843 |  |  | 36,405 |  |  | 39,648 |
Total | 389,423 |  |  | 394,304 |  |  | 443,300 |
On January 19, 2017, the Company’s stockholders approved an increase in the number of shares authorized by 4,350,000 shares for the 1989 ESPP and by 150,000 shares for the GESPP. At September 27, 2019, there remains 3,833,375 shares reserved for issuance under the 1989 ESPP and 103,732 shares reserved for issuance under the GESPP. Stock Incentive Plans We also sponsor the 1999 Stock Incentive Plan, as amended and restated (the "SIP") and the 1999 Outside Director Stock Plan, as amended and restated (the "ODSP"). The 1999 SIP provides for the issuance of incentive stock options, non-qualified stock options, share appreciation rights ("SARs"), restricted stock and restricted stock units to employees. The 1999 ODSP provides for awards of shares of common stock, restricted stock, restricted stock units and grants of non-qualified stock options to our outside (i.e., nonemployee) directors. The following table sets forth certain information about the 1999 Plans:
| 1999 SIP |  | 1999 ODSP |  | Total
Number of shares authorized | 29,850,000 |  |  | 1,100,000 |  |  | 30,950,000 |
Number of remaining shares reserved for issuance at September 27, 2019 | 5,719,617 |  |  | 427,002 |  |  | 6,146,619 |
Number of shares relating to outstanding stock options at September 27, 2019 | 755,856 |  |  | 170,750 |  |  | 926,606 |
Number of shares available for future awards: |  |  |  |  |  |  |
At September 27, 2019 | 4,963,761 |  |  | 256,252 |  |  | 5,220,013 |
At September 28, 2018 | 5,335,741 |  |  | 295,630 |  |  | 5,631,371 |
Effective September 28, 2012, all grants of shares under the 1999 SIP are issued on a fungible basis. An award other than an option or SAR are granted on a 1.92-to-1.00 basis (“Fungible”). An award of an option or SAR are granted on a 1-to-1 basis (“Not Fungible”). The following table presents the fair value of shares (of restricted stock and restricted stock units) vested for the years ended September 27, 2019, September 28, 2018 and September 29, 2017 (in thousands):
| For the Years Ended
| September 27, 2019 |  | September 28, 2018 |  | September 29, 2017
Restricted Stock and Restricted Stock Units (service condition) | $ | 37,864 |  |  | $ | 64,121 |  |  | $ | 34,466 |
Restricted Stock Units (service, market, and performance conditions at target) | 17,124 |  |  | 2,626 |  |  | 4,183 |
Total | $ | 54,988 |  |  | $ | 66,747 |  |  | $ | 38,649 |
At September 27, 2019, the amount of compensation cost relating to non-vested awards not yet recognized in the financial statements is approximately $77.2 million. The majority of these unrecognized compensation costs will be recognized by the first quarter of fiscal 2021. The weighted average remaining contractual term of options currently exercisable is 2.1 years. Stock Options The following table summarizes the stock option activity for the years ended September 27, 2019, September 28, 2018 and September 29, 2017:
| Number of Stock Options |  | Weighted Average Exercise Price
Outstanding at September 30, 2016 | 3,577,512 |  |  | $ | 45.69 |
Granted | — |  |  | $ | — |
Exercised | (906,648 | ) |  | $ | 43.79 |
Cancelled or expired | (154,039 | ) |  | $ | 48.79 |
Outstanding at September 29, 2017 | 2,516,825 |  |  | $ | 46.19 |
Granted | — |  |  | $ | — |
Exercised | (636,019 | ) |  | $ | 46.93 |
Cancelled or expired | (114,047 | ) |  | $ | 52.26 |
Outstanding at September 28, 2018 | 1,766,759 |  |  | $ | 45.53 |
Granted | — |  |  | $ | — |
Exercised | (828,529 | ) |  | $ | 45.63 |
Cancelled or expired | (11,624 | ) |  | $ | 42.10 |
Outstanding at September 27, 2019 | 926,606 |  |  | $ | 45.48 |
Cash received from the exercise of stock options, net of tax remitted, during the year ended September 27, 2019 was $37.8 million. Stock options outstanding at September 27, 2019 consisted entirely of non-qualified stock options. The following table presents the total intrinsic value of stock options exercised for the fiscal years ended September 27, 2019, September 28, 2018 and September 29, 2017 (in thousands):
For the Years Ended
September 27, 2019 |  | September 28, 2018 |  | September 29, 2017
$27,720 |  | $13,931 |  | $14,713
The total intrinsic value of stock options exercisable at September 27, 2019 was approximately $38.7 million. The following table presents certain other information regarding our 1999 SIP and 1999 OSDP for the fiscal years ended September 27, 2019, September 28, 2018 and September 29, 2017:
| September 27, 2019 |  | September 28, 2018 |  | September 29, 2017
At fiscal year end: |  |  |  |  |  |  |  |
Range of exercise prices for options exercisable | $32.51–$60.43 |  |  | $32.51–$60.43 |  |  | $32.51–$80.63 |
Number of options exercisable | 860,114 |  |  | 1,557,900 |  |  | 1,992,022 |
For the fiscal year: |  |  |  |  |  |  |  |
Range of prices relating to options exercised | $36.88–$60.43 |  |  | $35.93–$61.26 |  |  | $37.03–$55.53 |
Estimated weighted average fair values of options granted | $ | — |  |  | $ | — |  |  | $ | — |
The following table presents certain information regarding stock options outstanding and stock options exercisable at September 27, 2019:
| September 27, 2019
| Options Outstanding |  | Options Exercisable
Range of Exercise Prices | Number |  | Weighted Average Remaining Contractual Life (years) |  | Weighted Average Price |  | Number |  | Weighted Average Exercise Price
$32.51 - $37.03 | 60,500 |  |  | 2.65 |  | $ | 36.99 |  |  | 60,500 |  |  | $ | 36.99 |
$37.43 - $46.09 | 607,119 |  |  | 4.76 |  | $ | 42.90 |  |  | 540,627 |  |  | $ | 43.02 |
$47.11 - $55.13 | 227,612 |  |  | 3.46 |  | $ | 52.54 |  |  | 227,612 |  |  | $ | 52.54 |
$60.08 - $80.63 | 31,375 |  |  | 4.31 |  | $ | 60.36 |  |  | 31,375 |  |  | $ | 60.36 |
| 926,606 |  |  | 4.29 |  | $ | 45.48 |  |  | 860,114 |  |  | $ | 45.75 |
The 1999 ODSP and the 1999 SIP allow participants to satisfy the exercise price of stock options by tendering shares of Jacobs common stock that have been owned by the participants for at least six months. Shares so tendered are retired and canceled, and are shown as repurchases of common stock in the accompanying Consolidated Statements of Stockholders’ Equity. The weighted average remaining contractual term of options currently exercisable is 4.15 years. Restricted Stock The following table presents the number of shares of restricted stock and restricted stock units issued as common stock under the 1999 SIP for the years ended September 27, 2019, September 28, 2018 and September 29, 2017:
| For the Years Ended
| September 27, 2019 |  | September 28, 2018 |  | September 29, 2017
Restricted stock | — |  |  | — |  |  | — |
Restricted stock units (service condition) | 318,056 |  |  | 1,087,724 |  |  | 496,951 |
Restricted stock units (service, market and performance conditions) | 240,068 |  |  | 254,784 |  |  | 237,058 |
The amount of restricted stock units issued for awards with performance and market conditions in the above table are issued based on performance against the target amount. The number of shares ultimately issued, which could be greater or less than target, will be based on achieving specific performance conditions related to the awards. The following table presents the number and weighted average grant-date fair value of restricted stock and restricted stock units at September 27, 2019:
| Number of Shares |  | Weighted Average Grant-Date Fair Value
Outstanding at September 28, 2018 | 2,329,535 |  |  | $ | 56.11 |
Granted | 710,718 |  |  | $ | 73.12 |
Vested | (1,093,926 | ) |  | $ | 51.54 |
Canceled | (223,290 | ) |  | $ | 57.87 |
Outstanding at September 27, 2019 | 1,723,037 |  |  | $ | 65.80 |
The following table presents the number of shares of restricted stock and restricted stock units canceled and withheld for taxes under the 1999 SIP for the years ended September 27, 2019, September 28, 2018 and September 29, 2017:
| For the Years Ended
| September 27, 2019 |  | September 28, 2018 |  | September 29, 2017
Restricted stock | 105,301 |  |  | 284,254 |  |  | 365,481 |
Restricted stock units (service condition) | 295,122 |  |  | 336,516 |  |  | 128,536 |
Restricted stock units (service, market and performance conditions) | 183,654 |  |  | 95,063 |  |  | 86,742 |
The amount of unvested restricted stock units canceled for awards with service and performance conditions in the above table is based on the service period achieved and performance against the target amount. The restrictions attached to restricted stock and restricted stock units generally relate to the recipient’s ability to sell or otherwise transfer the stock or stock units. There are also restrictions that subject the stock and stock units to forfeiture back to the Company until earned by the recipient through continued employment or service. The following table provides the number of shares of restricted stock units outstanding at September 27, 2019 under the 1999 SIP. No shares of restricted stock were issued under the 1999 ODSP during such periods.
| September 27, 2019
| Total
Restricted stock | 95,626 |
Restricted stock units (service condition) | 833,091 |
Restricted stock units (service, market and performance conditions) | 668,252 |
The following table presents the number of shares of restricted stock and restricted stock units issued under the 1999 ODSP for the years ended September 27, 2019, September 28, 2018 and September 29, 2017:
| For the Years Ended
| September 27, 2019 |  | September 28, 2018 |  | September 29, 2017
Restricted stock units (service condition) | 26,372 |  |  | 21,620 |  |  | 21,123 |
The following table provides the number of shares of restricted stock and restricted stock units outstanding at September 27, 2019 under the 1999 ODSP:
| September 27, 2019
Restricted stock | 34,000 |
Restricted stock units (service condition) | 92,068 |
All shares granted under the 1999 ODSP are issued on a 1.92-to-1.00 basis.

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