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Share-Based Compensation (Tables)

12 Months Ended

Jun. 25, 2022

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Share-Based Compensation Awards Available for Grant or Issuance

Share-based compensation awards available for grant or issuance for each plan as of the beginning of the fiscal year, including changes in the balance of awards available for grant for fiscal 2022, were as follows:

		Awards								2019				2019
		Available				2019				Employee				Employee				2010
		Under All				Incentive				Inducement				Stock				Incentive				DSPG
		Share-Based				Compensation				Equity				Purchase				Compensation				Replacement Award
		Award Plans				Plan				Plan				Plan				Plan				Plan
Balance at June 2021			3,381,840				2,114,407				—				1,208,582				—				58,851
Additional shares authorized			2,000,000				2,000,000				—				—				—				—
Transferred between plans			-				14,625				—				—				(14,625	)			—
Restricted stock units granted			(641,690	)			(582,839	)			—				—				—				(58,851	)
Market stock units granted			(65,000	)			(65,000	)			—				—				—				—
Performance stock units granted			(96,914	)			(96,914	)			—				—				—				—
Performance stock units performance adjustment			(133,627	)			(133,627	)			—				—				—				—
Market stock units performance adjustment			(69,728	)			(33,675	)			—				—				(36,053	)			—
Purchases under employee stock purchase plan			(138,502	)			—				—				(138,502	)							—
Forfeited			337,171				162,547				27,768				—				146,856				—
Plan shares no longer available for new grants			(123,946	)			—				(27,768	)			—				(96,178	)			—
Balance at June 2022			4,449,604				3,379,524				—				1,070,080				—				—

Share-Based Compensation, Cash-Based Awards and Related Tax Benefit Recognized in Condensed Consolidated Statements of Operations

Share-based compensation and the related tax benefit recognized in our consolidated statements of income for fiscal 2022, 2021, and 2020 were as follows (in millions):

		2022				2021				2020
Cost of revenue		$	4.0			$	3.4			$	2.1
Research and development			42.5				45.4				32.3
Selling, general, and administrative			54.4				44.3				26.0
Total		$	100.9			$	93.1			$	60.4
Income tax benefit on share-based compensation		$	23.1			$	15.2			$	6.3

Schedule of Stock Option Activity

Certain stock option activity for fiscal 2022 and balances as of the end of fiscal 2022 were as follows:

		Stock				Weighted
		Option				Average				Intrinsic
		Awards				Exercise				Value
		Outstanding				Price				(In millions)
Balance at June 2021			55,061			$	66.68
Exercised			(23,876	)			73.44
Balance at June 2022			31,185				61.50			$	2.1
Exercisable at June 2022			31,185				61.50			$	2.1

Cash Received and Aggregate Intrinsic Value of Stock Options Exercised

Cash received and the aggregate intrinsic value of stock options exercised for fiscal 2022, 2021, and 2020 were as follows (in millions):

		2022				2021				2020
Cash received		$	5.3			$	23.9			$	23.9
Aggregate intrinsic value		$	3.6			$	8.6			$	10.8

Shares Purchased, Weighted Average Purchase Price, Cash Received, and Aggregate Intrinsic Value for ESPP

Shares purchased, weighted average purchase price, cash received, and the aggregate intrinsic value for employee stock purchase plan purchases in fiscal 2022, 2021, and 2020 were as follows (in millions, except shares purchased and weighted average purchase price):

		2022				2021				2020
Shares purchased			138,502				220,389				346,502
Weighted average purchase price		$	97.90			$	57.00			$	30.50
Cash received		$	13.6			$	12.6			$	10.6
Aggregate intrinsic value		$	12.5			$	10.3			$	10.1

Phantom Stock Unit [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Share-Based Compensation, Cash-Based Awards and Related Tax Benefit Recognized in Condensed Consolidated Statements of Operations

Included in the preceding table is share-based compensation for our cash-settled phantom stock units, which we granted in October 2019 (see Phantom Stock Units below) (in millions):

		2022				2021				2020
Cost of revenue		$	0.2			$	0.4			$	0.2
Research and development			27.2				21.9				9.1
Selling, general, and administrative			4.7				4.7				1.8
Total		$	32.1			$	27.0			$	11.1

Schedule of Stock Units Activity

Phantom stock activity was as follows:

						Aggregate
		Phantom				Intrinsic
		Stock Units				Value
		Outstanding				(in millions)
Balance as of June 2021			402,458
Paid			(196,420	)
Forfeited			(29,941	)
Balance as of June 2022			176,097			$	22.7

Fair Value of Each Award Granted

The fair value of each MSU granted from our plans for fiscal 2022, 2021, and 2020 was estimated at the date of grant using the Monte Carlo simulation model, assuming no expected dividends and the following assumptions:

		2022				2021				2020
Expected volatility of company			52.61	%			53.62	%		45.46% - 52.55%
Expected volatility of Index		17.4% - 581.6%				19.6% - 197.6%				24.64% - 33.44%
Correlation coefficient			0.53				0.51			0.53 - 0.58
Expected life in years			2.87				2.87			2.50 - 4.00
Risk-free interest rate			0.40	%			0.17	%		0.26% - 1.52%
Fair value per award		$284.43 - $342.89				$131.34 - $175.15				$55.52 - $100.38

Deferred stock units outstanding [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Stock Units Activity

RSU activity, including RSUs granted, delivered, and forfeited in fiscal 2022, and the balance and aggregate intrinsic value of RSUs as of the end of fiscal 2022 were as follows:

						Aggregate				Weighted
						Intrinsic				Average
		RSU Awards				Value				Grant Date
		Outstanding				(in millions)				Fair Value
Balance at June 2021			1,323,286							$	64.13
Granted			641,690								183.97
Delivered			(578,400	)							63.23
Forfeited			(166,003	)							120.72
Balance at June 2022			1,220,573			$	157.2				119.83

Market stock units outstanding [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Stock Units Activity

MSU activity, including MSUs granted, delivered, and forfeited in fiscal 2022, and the balance and aggregate intrinsic value of MSUs as of the end of fiscal 2022 were as follows:

						Aggregate				Weighted
						Intrinsic				Average
		MSU Awards				Value				Grant Date
		Outstanding				(in millions)				Fair Value
Balance at June 2021			347,027							$	82.18
Granted			65,000								191.68
Performance adjustment			69,728								—
Delivered			(203,883	)							78.05
Forfeited			(25,898	)							136.26
Balance at June 2022			251,974			$	32.4

Performance stock units outstanding [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Stock Units Activity

PSU activity, including PSUs granted, delivered, and forfeited in fiscal 2022, and the balance and aggregate intrinsic value of PSUs as of the end of fiscal 2022 were as follows:

						Aggregate				Weighted
						Intrinsic				Average
		PSU Awards				Value				Grant Date
		Outstanding				(in millions)				Fair Value
Balance at June 2021			317,392							$	62.41
Granted			96,914								111.90
Performance adjustment			88,762								—
Delivered			(208,023	)							55.01
Forfeited			(37,142	)							79.79
Balance at June 2022			257,903			$	33.2

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