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Stock-based Compensation (Tables)
9 Months Ended
Jul. 02, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of stock option activity

The summary of the Company’s stock option activity is as follows:

 

 

 

Number of Options

 

 

Weighted-Average Exercise Price

 

 

Weighted-Average Remaining Contractual Term

 

 

Aggregate Intrinsic Value

 

 

 

 

 

 

 

 

 

(In years)

 

 

(In thousands)

 

Outstanding at October 2, 2021

 

 

14,545,239

 

 

$

12.86

 

 

 

5.1

 

 

$

282,141

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(3,245,130

)

 

 

11.48

 

 

 

 

 

 

 

Expired

 

 

(340

)

 

 

2.50

 

 

 

 

 

 

 

Forfeited

 

 

(29,983

)

 

 

14.76

 

 

 

 

 

 

 

Outstanding at July 2, 2022

 

 

11,269,786

 

 

$

13.26

 

 

 

4.7

 

 

$

52,563

 

At July 2, 2022

 

 

 

 

 

 

 

 

 

 

 

 

          Options exercisable

 

 

10,616,150

 

 

$

13.20

 

 

 

4.6

 

 

$

50,146

 

          Options vested and expected to vest

 

 

11,234,657

 

 

$

13.25

 

 

 

4.7

 

 

$

52,424

 

Schedule of restricted stock unit activity The summary of the Company’s RSU activity is as follows

 

 

Number of Units

 

 

Weighted-Average Grant Date Fair Value

 

 

Aggregate Intrinsic Value

 

 

 

 

 

 

 

 

 

(In thousands)

 

Outstanding at October 2, 2021

 

 

9,283,525

 

 

$

12.64

 

 

$

299,487

 

Granted

 

 

3,539,358

 

 

 

30.49

 

 

 

 

Released

 

 

(3,236,683

)

 

 

13.62

 

 

 

 

Forfeited

 

 

(699,473

)

 

 

17.52

 

 

 

 

Outstanding at July 2, 2022

 

 

8,886,727

 

 

$

19.00

 

 

$

159,250

 

At July 2, 2022

 

 

 

 

 

 

 

 

 

          Units expected to vest

 

 

7,623,960

 

 

$

18.64

 

 

$

136,621

 

 

Schedule of performance stock units activity The summary of the Company’s PSU activity is as follows:

 

 

Number of Units

 

 

Weighted-Average Grant Date Fair Value

 

 

Aggregate Intrinsic Value

 

 

 

 

 

 

 

 

 

(In thousands)

 

Outstanding at October 2, 2021

 

 

158,521

 

 

$

22.81

 

 

$

5,114

 

Granted

 

 

252,296

 

 

 

29.71

 

 

 

 

Outstanding at July 2, 2022

 

 

410,817

 

 

$

27.05

 

 

$

11,371

 

Schedule of stock-based compensation expense

Total stock-based compensation expense by functional category was as follows:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

July 2,
2022

 

 

July 3,
2021

 

 

July 2,
2022

 

 

July 3,
2021

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

$

448

 

 

$

248

 

 

$

1,153

 

 

$

723

 

Research and development

 

 

7,858

 

 

 

6,125

 

 

 

22,687

 

 

 

19,067

 

Sales and marketing

 

 

3,826

 

 

 

3,277

 

 

 

11,650

 

 

 

10,317

 

General and administrative

 

 

6,647

 

 

 

5,897

 

 

 

21,973

 

 

 

16,648

 

          Total stock-based compensation expense

 

$

18,779

 

 

$

15,547

 

 

$

57,463

 

 

$

46,755