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Share-Based Compensation (Tables)
9 Months Ended
Mar. 26, 2022
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

Share-based compensation and the related tax benefit recognized in our condensed consolidated statements of income were as follows (in millions):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

March

 

 

March

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Cost of revenue

 

$

0.9

 

 

$

0.8

 

 

$

3.2

 

 

$

2.6

 

Research and development

 

 

18.0

 

 

 

12.9

 

 

 

57.4

 

 

 

33.4

 

Selling, general, and administrative

 

 

15.2

 

 

 

11.4

 

 

 

45.7

 

 

 

34.0

 

Total

 

$

34.1

 

 

$

25.1

 

 

$

106.3

 

 

$

70.0

 

Income tax benefit on share-based compensation

 

$

(3.4

)

 

$

(2.5

)

 

$

(20.1

)

 

$

(11.5

)

Schedule of Stock Option Activity

Stock option activity was as follows:

 

 

 

Stock

 

 

Weighted

 

 

Aggregate

 

 

 

Option

 

 

Average

 

 

Intrinsic

 

 

 

Awards

 

 

Exercise

 

 

Value

 

 

 

Outstanding

 

 

Price

 

 

(in millions)

 

Outstanding as of June 2021

 

 

55,061

 

 

$

66.68

 

 

 

 

Exercised

 

 

(22,300

)

 

 

73.30

 

 

 

 

Outstanding and Exercisable as of March 2022

 

 

32,761

 

 

 

62.18

 

 

$

5.1

 

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 during the nine months ended March 26, 2022 were as follows (in millions, except for shares purchased and weighted average price):

 

Shares purchased

 

 

138,502

 

Weighted average purchase price

 

$

97.91

 

Cash received

 

$

13.6

 

Aggregate intrinsic value

 

$

12.5

 

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):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

March

 

 

March

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Cost of revenue

 

$

0.1

 

 

$

0.1

 

 

$

0.2

 

 

$

0.3

 

Research and development

 

 

6.4

 

 

 

7.2

 

 

 

26.7

 

 

 

16.4

 

Selling, general, and administrative

 

 

1.4

 

 

 

1.5

 

 

 

5.6

 

 

 

3.5

 

Total

 

$

7.9

 

 

$

8.8

 

 

$

32.5

 

 

$

20.2

 

 

Schedule of Stock Units Activity

Phantom stock activity was as follows:

 

 

 

 

 

 

 

 

Phantom

 

 

 

 

Stock Units

 

 

 

 

Outstanding

 

 

Balance as of June 2021

 

 

402,458

 

 

Released

 

 

(196,420

)

 

Forfeited

 

 

(25,845

)

 

Balance as of March 2022

 

 

180,193

 

 

Restricted stock units outstanding [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Stock Units Activity

 

 

 

 

RSU activity was as follows:

 

 

 

 

 

 

Aggregate

 

 

 

RSU

 

 

Intrinsic

 

 

 

Awards

 

 

Value

 

 

 

Outstanding

 

 

(in millions)

 

Balance as of June 2021

 

 

1,323,286

 

 

 

 

Granted

 

 

602,320

 

 

 

 

Delivered

 

 

(549,596

)

 

 

 

Forfeited

 

 

(147,461

)

 

 

 

Balance as of March 2022

 

 

1,228,549

 

 

$

267.2

 

Market stock units outstanding [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Stock Units Activity

MSU activity was as follows:

 

 

 

 

 

 

Aggregate

 

 

 

MSU

 

 

Intrinsic

 

 

 

Awards

 

 

Value

 

 

 

Outstanding

 

 

(in millions)

 

Balance as of June 2021

 

 

347,027

 

 

 

 

Granted

 

 

134,728

 

 

 

 

Delivered

 

 

(203,883

)

 

 

 

Forfeited

 

 

(25,898

)

 

 

 

Balance as of March 2022

 

 

251,974

 

 

$

54.8

 

Performance stock units outstanding [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Stock Units Activity

PSU activity was as follows:

 

 

 

 

 

 

Aggregate

 

 

 

PSU

 

 

Intrinsic

 

 

 

Awards

 

 

Value

 

 

 

Outstanding

 

 

(in millions)

 

Balance as of June 2021

 

 

317,392

 

 

 

 

Awarded

 

 

185,676

 

 

 

 

Released

 

 

(208,023

)

 

 

 

Forfeited

 

 

(37,142

)

 

 

 

Balance as of March 2022

 

 

257,903

 

 

$

56.1