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Stockholders' Equity
 12 Months Ended
Jun. 28, 2025
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
Preferred Stock
We are authorized, subject to limitations imposed by Delaware law, to issue up to 10,000,000 shares of preferred stock in one or more series without stockholder approval. Our Board of Directors has the authority to establish, from time-to-time, the number of shares to be included in each series and to fix the rights, preferences and privileges of the shares of each wholly unissued series and any of its qualifications, limitations or restrictions. Our Board of Directors can also increase or decrease the number of shares of a series, but not below the number of shares of that series then outstanding, without any further vote or action by the stockholders. As of the end of fiscal 2025, there were no shares of preferred stock outstanding.
Shares Reserved for Future Issuance
As of the end of fiscal 2025, shares of common stock reserved for future issuance was as follows:
Restricted stock units outstanding2,981,280
Market stock units outstanding104,975
Performance stock units outstanding191,386
Awards available for grant under all share-based compensation plans3,817,922
Reserved for future issuance7,095,563
Common Stock Repurchase Program
From April 2005, our Board of Directors authorized a series of stock repurchase programs under which we repurchased shares of our common stock from time to time in the open market or in privately negotiated transactions, depending upon market conditions and other factors. These historical programs cumulatively authorized the repurchase of up to $2.3 billion of our common stock. The most recent of these programs expired in July 2025. As a result, on August 5, 2025, the Board authorized a new stock repurchase program to repurchase up to $150 million of our common stock. This program does not have an expiration date; however, the Board will periodically review the authorization to assess its continued appropriateness in light of the Company’s capital allocation priorities and market conditions. Repurchases under the program may be made in the open market or through privately negotiated transactions and are intended to comply with Rule 10b‑18 under the Exchange Act.
The number of shares repurchased and the timing of repurchases depend on the level of our cash balances, general business and market conditions and other factors, including alternative investment opportunities.
In fiscal year 2025 and 2023, we repurchased 1.8 million shares of our common stock for $128.3 million and 2.0 million shares for $183.5 million, respectively. We did not repurchase any of our common stock in fiscal 2024. All repurchased shares are recorded as treasury stock.