XML 63 R50.htm IDEA: XBRL DOCUMENT v3.25.1
Stock-Based Compensation (Tables)
12 Months Ended
Mar. 28, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Restricted Stock Units Activity

The following table summarizes RSU activity for the fiscal year ended March 28, 2025:

 

 

Number of
Shares

 

 

Weighted-Average Grant-Date Fair Value

 

 

Weighted-Average Remaining Contractual Life
(In years)

 

 

Aggregate
Intrinsic
Value

 

Outstanding - March 29, 2024

 

 

2,215,621

 

 

$

29.82

 

 

 

1.03

 

 

$

59,733

 

Granted

 

 

1,582,788

 

 

 

27.54

 

 

 

 

 

 

 

Issued

 

 

(1,049,602

)

 

 

28.66

 

 

 

 

 

 

 

Forfeited

 

 

(418,463

)

 

 

29.41

 

 

 

 

 

 

 

Outstanding - March 28, 2025

 

 

2,330,344

 

 

$

28.88

 

 

 

0.95

 

 

$

57,932

 

Schedule of Performance Units Fair Value Assumptions

The weighted-average fair value of the PSUs granted during the year was determined using the Monte Carlo simulation model incorporating the following weighted-average assumptions:

 

 

Fiscal Year Ended

 

March 28,
2025

 

March 29,
2024

 

March 31,
2023

Performance term

 

2.79 years

 

2.87 years

 

2.81 years

Volatility

 

43.46%

 

47.70%

 

51.30%

Risk-free rate of return

 

4.57%

 

3.68%

 

2.76%

Dividend yield

 

%

 

%

 

%

Weighted-average fair value per share

 

$31.83

 

$43.83

 

$30.69

Summary of Performance Stock Units Activity

The following table summarizes PSU activity for the fiscal year ended March 28, 2025:

 

 

Number of
Shares

 

 

Weighted-Average Grant-Date Fair Value

 

 

Weighted-Average Remaining Contractual Life
(In years)

 

 

Aggregate
Intrinsic
Value

 

Outstanding - March 29, 2024

 

 

2,429,393

 

 

$

25.64

 

 

 

2.32

 

 

$

65,496

 

Granted

 

 

528,213

 

 

 

31.06

 

 

 

 

 

 

 

Cancelled

 

 

(14,514

)

 

 

36.36

 

 

 

 

 

 

 

Issued

 

 

(513,877

)

 

 

30.39

 

 

 

 

 

 

 

Forfeited

 

 

(283,434

)

 

 

32.26

 

 

 

 

 

 

 

Outstanding - March 28, 2025

 

 

2,145,781

 

 

$

24.86

 

 

 

1.80

 

 

$

53,344

 

Schedule of Stock-Based Compensation Expense

The Company recorded stock-based compensation expense on its consolidated statements of operations as follows:

 

Fiscal Year Ended

 

 

March 28,
2025

 

 

March 29,
2024

 

 

March 31,
2023

 

RSUs

 

$

32,144

 

 

$

28,162

 

 

$

33,708

 

PSUs

 

 

8,561

 

 

 

12,825

 

 

 

26,890

 

ESPP

 

 

1,099

 

 

 

1,438

 

 

 

921

 

Other

 

 

64

 

 

 

32

 

 

 

279

 

Total

 

$

41,868

 

 

$

42,457

 

 

$

61,798

 

 

 

Fiscal Year Ended

 

 

March 28,
2025

 

 

March 29,
2024

 

 

March 31,
2023

 

Cost of sales

 

$

2,877

 

 

$

5,359

 

 

$

5,090

 

Research and development

 

 

14,624

 

 

 

13,894

 

 

 

9,496

 

Selling, general and administrative

 

 

24,367

 

 

 

23,204

 

 

 

47,212

 

Stock-based compensation expense

 

 

41,868

 

 

 

42,457

 

 

 

61,798

 

Income tax benefit

 

 

(4,049

)

 

 

(4,379

)

 

 

(3,789

)

Total stock-based compensation expense, net of taxes

 

$

37,819

 

 

$

38,078

 

 

$

58,009

 

Schedule of ESPP Fair Value Assumptions

The weighted-average fair value of the ESPP shares was determined using the Black-Scholes model incorporating the following weighted-average assumptions:

 

Fiscal Year Ended

 

 

March 28,
2025

 

 

March 29,
2024

 

 

March 31,
2023

 

Expected performance term

 

0.50 years

 

 

0.50 years

 

 

0.50 years

 

Volatility

 

 

45.44

%

 

 

40.97

%

 

 

44.99

%

Risk-free rate of return

 

 

4.70

%

 

 

5.35

%

 

 

3.58

%

Dividend yield

 

 

%

 

 

%

 

 

%

Weighted-average fair value per share

 

$

7.07

 

 

$

9.51

 

 

$

6.83