XML 79 R2.htm IDEA: XBRL DOCUMENT v3.24.3
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jul. 02, 2022
Jul. 03, 2021
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Year(1)
(a)
Summary Compensation Table Total for PEO
(b)
Compensation Actually Paid to PEO (2)(3)
(c)
Average Summary Compensation Table Total for Non-PEO Named
Executive
Officers
(d)
Average Compensation Actually Paid to Non-PEO Named
Executive
Officers(2)(4)
(e)
Value of Initial Fixed $100
Investment Based On:(5)
Net Income(in millions)
(h)
Consolidated Non-GAAP Operating Income
(in millions)(6)
(i)
Total Shareholder Return
(f)		Peer Group Total Shareholder Return
(g)
2024$8,327,769$(1,523,950)$2,066,364$687,143$55$93$(25.8)$115.0
2023$8,978,665$5,273,915$1,779,833$1,142,474$91$95$25.5$172.5
2022$9,340,416$2,475,672$1,807,445$812,945$105$93$15.5$286.8
2021$16,868,008$20,204,757$2,690,648$1,913,339$140$127$67.5$253.5
      
Company Selected Measure Name Consolidated Non-GAAP Operating Income      
Named Executive Officers, Footnote The following table lists the PEO and Non-PEO NEOs for each of fiscal years 2021, 2022, 2023 and 2024.
PEONon-PEO NEOs
2024Oleg KhaykinIlan Daskal, Paul McNab, Luke Scrivanich, Gary Staley, Henk Derksen, and Pam Avent
2023Oleg Khaykin
Henk Derksen, Paul McNab, Luke Scrivanich and Gary Staley
2022Oleg KhaykinHenk Derksen, Paul McNab, Luke Scrivanich and Gary Staley
2021Oleg Khaykin
Amar Maletira, Paul McNab, Luke Scrivanich, Gary Staley, and Pam Avent
      
Peer Group Issuers, Footnote In accordance with the Pay Versus Performance Rules, the Company and the Company’s peer group total shareholder return (the “Peer Group TSR”) is determined based on the value of an initial fixed investment of $100 on June 27, 2020, through the end of the listed fiscal year. The Peer Group TSR set forth in this table was determined using the Nasdaq Telecommunication Index, which we also use in preparing the stock performance graph required by Item 201(e) of Regulation S-K for our Annual Report for the fiscal year ended June 29, 2024.      
PEO Total Compensation Amount $ 8,327,769 $ 8,978,665 $ 9,340,416 $ 16,868,008
PEO Actually Paid Compensation Amount $ (1,523,950) 5,273,915 2,475,672 20,204,757
Adjustment To PEO Compensation, Footnote The following table shows the amounts deducted from and added to the Summary Compensation Table total to calculate “compensation actually paid” to Mr. Khaykin in accordance with the Pay Versus Performance Rules:
Pension Plan AdjustmentsEquity Award Adjustments
Summary Compensation Table Total for PEOChange in Pension ValuePension Service CostStock AwardsYear End Fair Value of Equity Awards Granted in the Year and Unvested at Year EndYear over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior YearsFair Value as of Vesting Date of Equity Awards Granted and Vested in the YearChange in Fair Value of Equity Awards Granted in Prior Years that Vested in the YearFair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the YearValue of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair ValueCompensation Actually Paid to PEO
2024$8,327,769N/AN/A$7,422,769$3,842,452($5,351,322)-$(920,080)--$(1,523,950)
      
Non-PEO NEO Average Total Compensation Amount $ 2,066,364 1,779,833 1,807,445 2,690,648
Non-PEO NEO Average Compensation Actually Paid Amount $ 687,143 1,142,474 812,945 1,913,339
Adjustment to Non-PEO NEO Compensation Footnote The following table shows the amounts deducted from and added to the average Summary Compensation Table total compensation to calculate the average “compensation actually paid” to our Non-PEO NEOs in accordance with the Pay Versus Performance Rules.
Pension Plan AdjustmentsEquity Award Adjustments
Average Summary Compensation Table Total for Non-PEO NEOs
($)		Change in Pension Value
($)		Pension Service Cost
($)		Stock Awards ($)Year End Fair Value of Equity Awards Granted in the Year and Unvested at Year End
($)		Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years
($)		Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year
($)		Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year
($)		Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year
($)		Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value
 ($)		Average Compensation Actually Paid to Non-PEO Named
Executive
Officers
($)
2024$2,066,364N/AN/A$1,595,800$1,059,689($342,463)-$(85,163)(415,485)-$687,143
      
Compensation Actually Paid vs. Total Shareholder Return
Compensation Actually Paid, Cumulative TSR of the Company and Cumulative TSR
26666
      
Compensation Actually Paid vs. Net Income
Compensation Actually Paid and Net Income
26710
      
Compensation Actually Paid vs. Company Selected Measure
Compensation Actually Paid and Non-GAAP Operating Income
26770
      
Total Shareholder Return Vs Peer Group
Compensation Actually Paid, Cumulative TSR of the Company and Cumulative TSR
26666
      
Tabular List, Table
Seven Most Important Performance Measures
Consolidated Non-GAAP Operating Income
Consolidated Revenue
OSP Revenue
OSP Non-GAAP Operating Income
NSE Revenue
NSE Non-GAAP Operating Income
Relative TSR
      
Total Shareholder Return Amount $ 55 91 105 140
Peer Group Total Shareholder Return Amount 93 95 93 127
Net Income (Loss) $ (25,800,000) $ 25,500,000 $ 15,500,000 $ 67,500,000
Company Selected Measure Amount 115,000,000.0 172,500,000 286,800,000 253,500,000
PEO Name Oleg Khaykin      
Additional 402(v) Disclosure The dollar amounts reported represent the amount of “compensation actually paid,” as calculated in accordance with the Pay Versus Performance Rules. These dollar amounts do not reflect the actual amounts of compensation earned by or paid to our NEOs during the applicable year. For purposes of calculating “compensation actually paid,” the fair value of equity awards is calculated in accordance with ASC Topic 718 using the same assumption methodologies used to calculate the grant date fair value of awards for purposes of the Summary Compensation Table (refer to “Executive Compensation and Other Information – Summary Compensation Table” for additional information).      
Measure:: 1        
Pay vs Performance Disclosure        
Name Consolidated Non-GAAP Operating Income      
Non-GAAP Measure Description We have determined that Consolidated Non-GAAP Operating Income (also referred to in our Compensation Discussion and Analysis as “Non-GAAP Operating Profit”) is the financial performance measure that, in the Company’s assessment, represents the most important financial performance measure used to link “compensation actually paid” to our NEOs, for fiscal year 2024, to company performance (the “Company Selected Measure” as defined in the Pay Versus Performance Rules). Please refer to the section titled “Elements of FY24 Executive Compensation – Financial Metrics for FY24” for the definition of Non-GAAP Operating Income and to Annex A for a reconciliation of Non-GAAP Operating Income to GAAP Operating Income.      
Measure:: 2        
Pay vs Performance Disclosure        
Name Consolidated Revenue      
Measure:: 3        
Pay vs Performance Disclosure        
Name OSP Revenue      
Measure:: 4        
Pay vs Performance Disclosure        
Name OSP Non-GAAP Operating Income      
Measure:: 5        
Pay vs Performance Disclosure        
Name NSE Revenue      
Measure:: 6        
Pay vs Performance Disclosure        
Name NSE Non-GAAP Operating Income      
Measure:: 7        
Pay vs Performance Disclosure        
Name Relative TSR      
PEO | Equity Awards Adjustments        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 7,422,769      
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 3,842,452      
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (5,351,322)      
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (920,080)      
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
Non-PEO NEO | Equity Awards Adjustments        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,595,800      
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,059,689      
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (342,463)      
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (85,163)      
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (415,485)      
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 0