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Share-Based Compensation | 6 Months Ended
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Mar. 29, 2024
Share-Based Payment Arrangement [Abstract] |
Share-Based Compensation | SHARE-BASED COMPENSATION: On October 13, 2023, the Company's Compensation and Human Resources Committee of the Board of Directors (the "Committee"), pursuant to the terms of the Third Amended and Restated 2013 Stock Incentive Plan and to reflect the separation and distribution of the Company’s Uniform segment that occurred on September 30, 2023, approved amendments to the performance goals and performance periods for the Company’s outstanding Performance Stock Units ("PSUs"). For the PSUs granted in fiscal 2022, which were subject to performance targets for the three-year period ending September 27, 2024, two-thirds of these PSUs became subject to new adjusted performance targets and an adjusted performance period for the two-year period ending September 29, 2023 and the remaining one-third of these PSUs will be subject to new adjusted performance targets for the one-year period ending September 27, 2024. The PSUs granted in fiscal 2023, which were subject to performance targets for the three-year period ending October 3, 2025, were amended to be subject to adjusted performance targets primarily to reflect the Company on a post-spin off basis. The Committee also approved adjustments increasing the maximum aggregate number of shares authorized for awards under the 2023 Stock Plan by an additional 3.5 million shares. The following table summarizes the share-based compensation expense and related information for Time-Based Options ("TBOs"), Retention Time-Based Options ("TBO-Rs"), Time-Based Restricted Stock Units ("RSUs"), PSUs, Deferred Stock Units and Employee Stock Purchase Plan ("ESPP") recorded within "Selling and general corporate expenses" on the Condensed Consolidated Statements of Income (in millions).
|  | Three Months Ended |  | Six Months Ended
|  | March 29, 2024 |  | March 31, 2023 |  | March 29, 2024 |  | March 31, 2023
TBOs |  | $ | 2.3 |  |  | $ | 3.6 |  |  | $ | 4.7 |  |  | $ | 7.0 |
TBO-Rs |  | 0.9 |  |  | 1.2 |  |  | 1.0 |  |  | 3.1 |
RSUs |  | 8.3 |  |  | 11.2 |  |  | 16.2 |  |  | 22.4 |
PSUs |  | 3.8 |  |  | 2.0 |  |  | 6.6 |  |  | 3.9 |
Deferred Stock Units |  | 0.4 |  |  | 0.5 |  |  | 0.9 |  |  | 0.8 |
ESPP(1) |  | — |  |  | — |  |  | — |  |  | 1.9 |
|  | $ | 15.7 |  |  | $ | 18.5 |  |  | $ | 29.4 |  |  | $ | 39.1 |
Taxes related to share-based compensation |  | $ | 2.7 |  |  | $ | 3.2 |  |  | $ | 5.3 |  |  | $ | 6.7 |
Cash Received from Option Exercises/ESPP Purchases |  | 11.1 |  |  | 4.5 |  |  | 15.6 |  |  | 32.7 |
Tax Benefit on Share Deliveries |  | — |  |  | 0.1 |  |  | — |  |  | 0.8 |
(1) | The Company suspended its ESPP beginning in the second quarter of fiscal 2023.
The below table summarizes the number of shares granted and the weighted-average grant-date fair value per unit during the six months ended March 29, 2024:
| Shares Granted (in millions) |  | Weighted Average Grant-Date Fair Value (dollars per share)
TBOs | 1.2 |  |  | $ | 12.02 |
RSUs | 1.6 |  |  | $ | 28.11 |
PSUs | 0.7 |  |  | $ | 32.14 |
| 3.5 |  |  |

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