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Stock-based Compensation (Tables) | 9 Months Ended
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Jul. 01, 2023
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 1, 2022 |  |  | 10,802,882 |  |  | $ | 13.37 |  |  |  | 4.5 |  |  | $ | 10,956 |
Exercised |  |  | (1,865,278 | ) |  | $ | 10.71 |  |  |  |  |  |  |
Forfeited |  |  | (26,581 | ) |  | $ | 15.17 |  |  |  |  |  |  |
Outstanding at July 1, 2023 |  |  | 8,911,023 |  |  | $ | 13.93 |  |  |  | 3.9 |  |  | $ | 21,457 |
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 1, 2022 |  |  | 8,308,177 |  |  | $ | 19.25 |  |  | $ | 115,484 |
Granted |  |  | 5,085,052 |  |  | $ | 17.46 |  |  |  |
Released |  |  | (3,300,998 | ) |  | $ | 16.62 |  |  |  |
Forfeited |  |  | (1,244,302 | ) |  | $ | 19.05 |  |  |  |
Outstanding at July 1, 2023 |  |  | 8,847,929 |  |  | $ | 19.23 |  |  | $ | 144,487 |
At July 1, 2023 |  |  |  |  |  |  |  |  |
Units expected to vest |  |  | 7,605,402 |  |  | $ | 19.14 |  |  | $ | 124,196 |
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 1, 2022 |  |  | 398,077 |  |  | $ | 26.96 |  |  | $ | 5,533 |
Granted |  |  | 249,370 |  |  | $ | 17.54 |  |  |  |
Vested |  |  | (263,158 | ) |  | $ | 26.26 |  |  |  |
Forfeited |  |  | (63,033 | ) |  | $ | 21.07 |  |  |  |
Outstanding at July 1, 2023 |  |  | 321,256 |  |  | $ | 21.38 |  |  | $ | 5,246 |
Schedule of stock-based compensation expense | Total stock-based compensation expense by functional category was as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | July 1, 2023 |  |  | July 2, 2022 |  |  | July 1, 2023 |  |  | July 2, 2022 |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenue |  | $ | 450 |  |  | $ | 448 |  |  | $ | 1,601 |  |  | $ | 1,153 |
Research and development |  |  | 8,637 |  |  |  | 7,858 |  |  |  | 27,353 |  |  |  | 22,687 |
Sales and marketing |  |  | 3,590 |  |  |  | 3,826 |  |  |  | 12,178 |  |  |  | 11,650 |
General and administrative |  |  | 5,652 |  |  |  | 6,647 |  |  |  | 18,417 |  |  |  | 21,973 |
Total stock-based compensation expense |  | $ | 18,329 |  |  | $ | 18,779 |  |  | $ | 59,549 |  |  | $ | 57,463 |

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