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SHAREHOLDERS' EQUITY AND EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended
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Oct. 03, 2020
Share-based Payment Arrangement [Abstract] |
Company’s matching contributions to the Plan | The following table reflects the Company’s contributions to the Plan during fiscal 2020 and 2019:
|  | Fiscal
(in thousands) |  | 2020 |  | 2019
Cash |  | $ | 1,514 |  |  | $ | 1,648 |
Accumulated other comprehensive income reflected on the Consolidated Balance Sheets | The following table reflects accumulated other comprehensive loss reflected on the Consolidated Balance Sheets as of October 3, 2020 and September 28, 2019:
|  | As of
(in thousands) |  | October 3, 2020 |  | September 28, 2019
Gain / (loss) from foreign currency translation adjustments |  | $ | 10 |  |  | $ | (7,745) |
Unrecognized actuarial loss on pension plan, net of tax |  | (3,088) |  |  | (1,598) |
Unrealized gain / (loss) on hedging |  | 557 |  |  | (597) |
Accumulated other comprehensive loss |  | $ | (2,521) |  |  | $ | (9,940) |
Equity-based compensation expense | The following table reflects total equity-based compensation expense, which includes Relative TSR PSUs, Time-based RSUs, Special/Growth PSUs, Performance-based Restricted Stock and common stock, included in the Consolidated Statements of Operations for fiscal 2020, 2019, and 2018:
|  | Fiscal
(in thousands) |  | 2020 |  | 2019 |  | 2018
Cost of sales |  | $ | 744 |  |  | $ | 632 |  |  | $ | 515 |
Selling, general and administrative |  | 11,071 |  |  | 10,503 |  |  | 8,548 |
Research and development |  | 3,204 |  |  | 3,197 |  |  | 2,622 |
Total equity-based compensation expense |  | $ | 15,019 |  |  | $ | 14,332 |  |  | $ | 11,685 |
The following table reflects equity-based compensation expense, by type of award, for fiscal 2020, 2019, and 2018:
|  | Fiscal
(in thousands) |  | 2020 |  | 2019 |  | 2018
Relative TSR PSUs |  | $ | 3,266 |  |  | $ | 4,220 |  |  | $ | 3,583 |
Time-based RSUs |  | 9,519 |  |  | 8,603 |  |  | 7,027 |
Special/Growth PSUs |  | 1,384 |  |  | 675 |  |  | 295 |
Common stock |  | 850 |  |  | 834 |  |  | 780 |
Total equity-based compensation expense |  | $ | 15,019 |  |  | $ | 14,332 |  |  | $ | 11,685 |
Employee market-based restricted stock activity | The following table reflects Relative TSR PSUs activity for fiscal 2020, 2019, and 2018:
| Number of shares (in thousands) |  | Unrecognized compensation expense (in thousands) |  | Average remaining service period (in years) |  | Weighted average grant date fair value per share
Relative TSR PSUs outstanding as of September 30, 2017 | 673 |  |  | $ | 6,204 |  |  | 1.4 |  |
Granted | 180 |  |  |  |  |  |  | $ | 29.60 |
Forfeited or expired | (146) |  |  |  |  |  |  |
Vested | (168) |  |  |  |  |  |  |
Relative TSR PSUs outstanding as of September 29, 2018 | 539 |  |  | $ | 4,629 |  |  | 1.1 |  |
Granted | 166 |  |  |  |  |  |  | $ | 23.15 |
Forfeited or expired | (27) |  |  |  |  |  |  |
Vested | (117) |  |  |  |  |  |  |
Relative TSR PSUs outstanding as of September 28, 2019 | 561 |  |  | $ | 4,136 |  |  | 0.9 |  |
Granted | 162 |  |  |  |  |  |  | $ | 28.80 |
Forfeited or expired | (52) |  |  |  |  |  |  |
Vested | (268) |  |  |  |  |  |  |
Relative TSR PSUs outstanding as of October 3, 2020 | 403 |  |  | $ | 4,198 |  |  | 1.1 |  |
Schedule of Assumptions Used to Calculate Compensation Expense | The following table reflects the assumptions used to calculate compensation expense related to the Company’s Relative TSR PSUs issued during fiscal 2020, 2019, and 2018:
| Fiscal
| 2020 |  | 2019 |  | 2018
Grant price | $ | 22.95 |  |  | $ | 20.87 |  |  | $ | 19.65 |
Expected dividend yield(1) | 2.09 | % |  | 2.30 | % |  | 0.12 | %
Expected stock price volatility | 36.29 | % |  | 34.20 | % |  | 31.71 | %
Risk-free interest rate | 1.49 | % |  | 2.92 | % |  | 1.68 | %
(1) The expected dividend yield for fiscal 2018 includes the effect of 10,511 grants which were issued in the quarter ended September 29, 2018 with an assumed dividend yield of 1.91%
Employee time-based restricted stock activity | The following table reflects Time-based RSUs activity for fiscal 2020, 2019, and 2018:
| Number of shares (in thousands) |  | Unrecognized compensation expense (in thousands) |  | Average remaining service period (in years) |  | Weighted average grant date fair value per share
Time-based RSUs outstanding as of September 30, 2017 | 1,080 |  |  | $ | 7,770 |  |  | 1.5 |  |
Granted | 459 |  |  |  |  |  |  | $ | 22.32 |
Forfeited or expired | (87) |  |  |  |  |  |  |
Vested | (542) |  |  |  |  |  |  |
Time-based RSUs outstanding as of September 29, 2018 | 910 |  |  | $ | 9,038 |  |  | 1.4 |  |
Granted | 521 |  |  |  |  |  |  | $ | 20.95 |
Forfeited or expired | (42) |  |  |  |  |  |  |
Vested | (442) |  |  |  |  |  |  |
Time-based RSUs outstanding as of September 28, 2019 | 947 |  |  | $ | 10,555 |  |  | 1.4 |  |
Granted | 490 |  |  |  |  |  |  | $ | 22.93 |
Forfeited or expired | (80) |  |  |  |  |  |  |
Vested | (569) |  |  |  |  |  |  |
Time-based RSUs outstanding as of October 3, 2020 | 788 |  |  | $ | 10,480 |  |  | 1.6 |  |
Schedule of Special/Growth Based Restricted Stock Activity | The following table reflects Special/Growth PSUs activity for fiscal 2020, 2019, and 2018:
| Number of shares (in thousands) |  | Unrecognized compensation expense (in thousands) |  | Average remaining service period (in years) |  | Weighted average grant date fair value per share
Special/Growth PSUs outstanding as of September 30, 2017 | — |  |  |  |  |  |  |
Granted | 60 |  |  |  |  |  |  | $ | 22.57 |
Forfeited or expired | (14) |  |  |  |  |  |  |
Vested | — |  |  |  |  |  |  |
Special/Growth PSUs outstanding as of September 29, 2018 | 46 |  |  | $ | 702 |  |  | 2.1 |  |
Granted | 55 |  |  |  |  |  |  | $ | 21.07 |
Forfeited or expired | (4) |  |  |  |  |  |  |
Vested | — |  |  |  |  |  |  |
Special/Growth PSUs outstanding as of September 28, 2019 | 97 |  |  | $ | 1,128 |  |  | 1.6 |  |
Granted | 80 |  |  |  |  |  |  | $ | 23.65 |
Forfeited or expired | (22) |  |  |  |  |  |  |
Vested | (4) |  |  |  |  |  |  |
Special/Growth PSUs outstanding as of October 3, 2020 | 151 |  |  | $ | 1,252 |  |  | 1.1 |  |
Employee stock option activity | The following table reflects employee stock option activity for fiscal 2020, 2019, and 2018:
| Number of shares (in thousands) |  | Weighted average exercise price |  | Average remaining contractual life (in years) |  | Aggregate intrinsic value (in thousands)
Options outstanding as of September 30, 2017 | 16 |  |  | $ | 8.73 |  |  |  |  |
Exercised | (6) |  |  | $ | 8.74 |  |  |  |  | $ | 73 |
Forfeited or expired | (8) |  |  | $ | 8.74 |  |  |  |  |
Options outstanding as of September 29, 2018 | 2 |  |  | $ | 8.64 |  |  |  |  |
Exercised | (2) |  |  | $ | 8.64 |  |  |  |  | $ | 24 |
Forfeited or expired | — |  |  |  |  |  |  |
Options outstanding as of September 28, 2019 | — |  |  |  |  |  |  |
Exercised | — |  |  |  |  |  |  | $ | — |
Forfeited or expired | — |  |  | $ | — |  |  |  |  |
Options outstanding as of October 3, 2020 | — |  |  | $ | — |  |  | — |  |  | $ | — |
Options vested and expected to vest as of October 3, 2020 | — |  |  | $ | — |  |  | — |  |  | $ | — |
Options exercisable as of October 3, 2020 | — |  |  | $ | — |  |  | — |  |  |
In the money exercisable options as of October 3, 2020 | — |  |  |  |  |  |  | $ | — |
Common stock issued to non-employee directors | The following table reflects shares of common stock issued to non-employee directors and the corresponding fair value for fiscal 2020, 2019, and 2018:
| Fiscal
(in thousands) | 2020 |  | 2019 |  | 2018
Number of common shares issued | 37 |  |  | 37 |  |  | 33 |
Fair value based upon market price at time of issue | $ | 850 |  |  | $ | 834 |  |  | $ | 780 |
Defined benefits pension obligations and pension expenses | The following table reflects the Company's defined benefits pension obligations, mainly in Switzerland and Taiwan, as of October 3, 2020 and September 28, 2019:
|  | As of
(in thousands) | October 3, 2020 |  | September 28, 2019
Switzerland pension obligation | $ | 3,572 |  |  | $ | 1,962 |
Taiwan pension obligation | 1,333 |  |  | 1,191 |

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