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Stockholders' Equity and Stock Compensation Plans (Tables) | 12 Months Ended
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Sep. 29, 2024
Stockholders' Equity Note [Abstract] |
Schedule of the stock-based compensation and related income tax benefits | The following table presents our stock-based compensation and related income tax benefits (in thousands):
| Fiscal Year Ended
| September 29, 2024 |  | October 1, 2023 |  | October 2, 2022
Total stock-based compensation | $ | 31,155 |  |  | $ | 28,607 |  |  | $ | 26,227 |
Income tax benefit related to stock-based compensation | (6,489) |  |  | (5,779) |  |  | (5,377) |
Stock-based compensation, net of tax benefit | $ | 24,666 |  |  | $ | 22,828 |  |  | $ | 20,850 |
Schedule of stock option activity | The following table presents our stock option activity for fiscal 2024 year-end:
| Number of Options (in thousands) |  | Weighted- Average Exercise Price per Share |  | Weighted- Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding on October 1, 2023 | 742 |  |  | $ | 7.89 |  |  |  |  |
Exercised | (410) |  |  | 7.47 |  |  |  |  |
Outstanding on September 29, 2024 | 332 |  |  | $ | 8.41 |  |  | 2.44 |  | $ | 12,598 |
Vested or expected to vest on September 29, 2024 | 332 |  |  | $ | 8.41 |  |  | 2.44 |  | $ | 12,598 |
Exercisable on September 29, 2024 | 332 |  |  | $ | 8.41 |  |  | 2.44 |  | $ | 12,598 |
Schedule of RSU and PSU activity | A summary of the RSU and PSU activity under our stock plans is as follows:
| RSU |  | PSU
| Number of Shares (in thousands) |  | Weighted- Average Grant Date Fair Value per Share |  | Number of Shares (in thousands) |  | Weighted- Average Grant Date Fair Value per Share
Nonvested balance at October 3, 2021 | 1,903 |  |  | $ | 16.66 |  |  | 1,588 |  |  | $ | 16.59 |
Granted | 389 |  |  | 36.92 |  |  | 209 |  |  | 49.43 |
Vested | (734) |  |  | 15.49 |  |  | (880) |  |  | 16.03 |
Adjustment (1) | — |  |  | — |  |  | 441 |  |  | 16.13 |
Forfeited | (63) |  |  | 21.80 |  |  | — |  |  | — |
Nonvested balance at October 2, 2022 | 1,495 |  |  | 22.28 |  |  | 1,358 |  |  | 21.85 |
Granted | 525 |  |  | 31.27 |  | 281 |  |  | 39.10 |
Vested | (595) |  |  | 20.81 |  |  | (689) |  |  | 19.97 |
Adjustment (1) | — |  |  | — |  |  | 344 |  |  | 19.97 |
Forfeited | (78) |  |  | 28.00 |  |  | (45) |  |  | 38.74 |
Nonvested balance at October 1, 2023 | 1,347 |  |  | 26.12 |  |  | 1,249 |  |  | 25.64 |
Granted | 723 |  |  | 33.14 |  | 279 |  |  | 41.08 |
Vested | (508) |  |  | 25.87 |  |  | (431) |  |  | 30.61 |
Adjustment (1) | — |  |  | — |  |  | 193 |  |  | 30.61 |
Forfeited | (75) |  |  | 31.45 |  |  | (29) |  |  | 40.36 |
Nonvested balance at September 29, 2024 | 1,487 |  |  | $ | 29.35 |  |  | 1,261 |  |  | $ | 27.78 |
(1) Fiscal 2022 includes a payout adjustment of 440,990 PSUs due to the actual performance level achieved for PSUs granted in fiscal 2019 that vested during fiscal 2022. Fiscal 2023 includes a payout adjustment of 343,960 PSUs due to the actual performance level achieved for PSUs granted in fiscal 2020 that vested during fiscal 2023. Fiscal 2024 includes a payout adjustment of 193,340 PSUs due to the actual performance level achieved for PSUs granted in fiscal 2021 that vested during fiscal 2024.
Summary of shares purchased, weighted-average purchase price, and cash received, for shares purchased under the ESPP | The following table summarizes shares purchased, weighted-average purchase price, and cash received for shares purchased under the ESPP (in thousands, except for purchase price):
| Fiscal Year Ended
| September 29, 2024 |  | October 1, 2023 |  | October 2, 2022
Shares purchased | 522 |  |  | 492 |  |  | 531 |
Weighted-average purchase price per share | $ | 28.14 |  |  | $ | 25.66 |  |  | $ | 22.83 |
Cash received from exercise of purchase rights | $ | 14,675 |  |  | $ | 12,628 |  |  | $ | 12,129 |
Schedule of the assumptions used in the Black-Scholes option pricing model in estimating the grant date fair value of each award granted under the ESPP | The grant date fair value of each award granted under the ESPP was estimated using the Black-Scholes option pricing model with the following assumptions:
| Fiscal Year Ended
| September 29, 2024 |  | October 1, 2023 |  | October 2, 2022
Dividend yield | 0.7% |  | 0.7% |  | 1.0%
Expected stock price volatility | 27.1% |  | 38.0% |  | 32.2%
Risk-free rate of return, annual | 4.7% |  | 4.7% |  | 0.4%
Expected life (in years) | 1 |  | 1 |  | 1

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