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Stockholders' Equity and Stock Compensation Plans | 9 Months Ended
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Jul. 03, 2022
Stockholders' Equity Note [Abstract] |
Stockholders' Equity and Stock Compensation Plans | Stockholders’ Equity and Stock Compensation PlansWe recognize the fair value of our stock-based awards as compensation expense on a straight-line basis over the requisite service period in which the award vests. Stock-based compensation expense for the three and first nine months ended July 3, 2022 was $6.7 million and $19.1 million, respectively, compared to $5.7 million and $16.3 million for the same periods last year. Most of these amounts were included in selling, general and administrative expenses on our consolidated statements of income. In the first nine months of fiscal 2022, we awarded 41,734 performance share units (“PSUs”) to our non-employee directors and executive officers at a fair value of $247.16 per share on the award date. All PSUs are performance-based and vest, if at all, after the conclusion of the three-year performance period. The number of PSUs that ultimately vest is based 50% on the growth in our diluted earnings per share and 50% on our relative total shareholder return over the vesting period. Additionally, we awarded 76,231 restricted stock units (“RSUs”) to our non-employee directors, executive officers and employees at a fair value of $185.35 per share on the award date. All executive officer and employee RSUs have time-based vesting over a four-year period, and the non-employee director RSUs vest after one year.

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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