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STOCKHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Mar. 29, 2024

Share-Based Payment Arrangement [Abstract]

Effects of Stock-Based Compensation Expense Related to Stock-Based Awards to Employees and Nonemployees

The following table shows a summary of share-based compensation expense included in the condensed consolidated statements of operations (in thousands):

			Three Months Ended												Six Months Ended
			March 29, 2024						March 31, 2023						March 29, 2024						March 31, 2023
Cost of revenue			$	1,600					$	1,011					$	2,870					$	2,161
Research and development			4,962						3,742						7,727						7,974
Selling, general and administrative			5,528						4,707						10,150						10,372
Total share-based compensation expense			$	12,090					$	9,460					$	20,747					$	20,507

Summary of Restricted Stock, Restricted Stock Unit and Performance-based Restricted Stock Unit Activity

A summary of stock award activity for the six months ended March 29, 2024 is as follows:

			Number of shares (in thousands)						Weighted- Average Grant Date Fair Value
Balance as of September 29, 2023			1,501						$	60.90
Granted			715						78.62
Performance-based adjustment (1)			62						35.43
Vested and released			(502)						50.11
Forfeited, canceled or expired			(100)						65.07
Balance as of March 29, 2024			1,676						$	70.51

(1) The amount shown represents performance adjustments for performance-based awards. These were granted in prior fiscal years and vested during the six months ended March 29, 2024 based on the Company’s achievement of adjusted earnings per share performance conditions.

Schedule of Share-Based Payment Award, Market Based Restricted Stock Awards, Valuation Assumptions

The assumptions used to value the awards are as follows:

			Six Months Ended
			March 29, 2024
Grant date stock price			$	73.01
Average stock price at the start of the performance period			$	79.43
Risk free interest rate			4.6%
Years to maturity			2.9
Expected volatility rate			41.7%
Expected dividend yield			—

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Schedule of Share-Based Payment Award, Market Based Restricted Stock Awards, Valuation Assumptions

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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