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Stock-based Compensation (Tables)
9 Months Ended
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