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Stockholders' Equity and Stock-Based Compensation (Tables)
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12 Months Ended |
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Sep. 28, 2013
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| Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
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| Stock-Based Compensation Expense in Consolidated Statement of Operations |
The following
presents stock-based compensation expense in the Company’s
Consolidated Statement of Operations in fiscal 2013, 2012 and
2011:
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2013 |
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2012 |
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2011 |
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Cost of revenues
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$ |
7,031 |
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$ |
5,722 |
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$ |
4,602 |
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Research and
development
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7,179 |
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5,328 |
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4,852 |
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Selling and
marketing
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8,915 |
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7,355 |
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5,954 |
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General and
administrative
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20,153 |
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18,667 |
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20,064 |
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Restructuring and
divestiture
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9,029 |
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3,500 |
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— |
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$ |
52,307 |
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$ |
40,572 |
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$ |
35,472 |
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| Information Pertaining to Stock Options Granted and Related Assumptions |
Information
pertaining to stock options granted during fiscal 2013, 2012 and
2011 and related assumptions are noted in the following
table:
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Years
ended |
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September 28,
2013 |
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September 29,
2012 |
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September 24,
2011 |
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Options granted
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2,640 |
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2,259 |
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2,249 |
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Weighted-average exercise
price
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$ |
20.29 |
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$ |
17.21 |
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$ |
17.15 |
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Weighted-average grant date
fair value
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$ |
7.03 |
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$ |
6.48 |
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$ |
6.16 |
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Assumptions:
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Risk-free interest
rates
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0.5 |
% |
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0.7 |
% |
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1.0 |
% |
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Expected life (in
years)
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4.4 |
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4.3 |
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4.2 |
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Expected
volatility
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44 |
% |
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47 |
% |
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45 |
% |
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Dividend yield
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— |
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— |
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— |
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| Stock Option Activity |
The following
table summarizes all stock option activity under the
Company’s stock option plans for the year ended
September 28, 2013:
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Number
of Shares |
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Weighted-
Average
Exercise Price |
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Weighted-
Average
Remaining
Contractual Life
in Years |
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Aggregate
Intrinsic
Value |
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Options outstanding at
September 29, 2012
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18,039 |
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$ |
17.40 |
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4.4 |
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$ |
78,962 |
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Granted
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2,640 |
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20.29 |
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Cancelled/forfeited
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(1,021 |
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20.04 |
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Exercised
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(4,786 |
) |
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13.71 |
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$ |
37,609 |
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Options outstanding at
September 28, 2013
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14,872 |
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$ |
18.92 |
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3.9 |
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$ |
54,956 |
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Options exercisable at
September 28, 2013
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7,472 |
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$ |
20.28 |
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2.9 |
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$ |
29,438 |
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Options vested and expected
to vest at September 28, 2013 (1)
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13,780 |
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$ |
19.00 |
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3.8 |
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$ |
51,656 |
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| (1) |
This represents the number
of vested stock options as of September 28, 2013 plus the
unvested outstanding options at September 28, 2013 expected to
vest in the future, adjusted for estimated forfeitures. |
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| Restricted Stock Unit Activity |
A summary of
the Company’s RSU activity during the year ended
September 28, 2013 is presented below:
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Non-vested
Shares
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Number of
Shares |
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Weighted-Average
Grant-Date Fair
Value |
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Non-vested at
September 29, 2012
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3,580 |
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$ |
16.45 |
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Granted
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1,995 |
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19.94 |
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Vested
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(1,711 |
) |
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15.98 |
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Forfeited
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(405 |
) |
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18.11 |
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Non-vested at
September 28, 2013
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3,459 |
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$ |
18.51 |
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| Black-Scholes Model Weighted Average Assumptions Used to Estimate Fair Value of Shares to Be Issued as of Grant Date |
The Company
uses the Black-Scholes model to estimate the fair value of shares
to be issued as of the grant date using the following weighted
average assumptions:
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September 28,
2013 |
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September 29,
2012 |
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Assumptions:
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Risk-free interest
rates
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0.11 |
% |
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0.16 |
% |
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Expected life (in
years)
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|
0.5 |
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0.5 |
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Expected
volatility
|
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32 |
% |
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|
35 |
% |
|
Dividend yield
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|
— |
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— |
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