XML 26 R15.htm IDEA: XBRL DOCUMENT v3.25.0.1
Stock-based Compensation
 3 Months Ended
Dec. 28, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation
9. Stock-based Compensation
2018 Equity Incentive Plan
In July 2018, the Board adopted the 2018 Equity Incentive Plan (the "2018 Plan").
Stock options
The summary of the Company’s stock option activity is as follows:
Number of Options Weighted-Average Exercise PriceWeighted-Average Remaining
Contractual Term		Aggregate Intrinsic Value
(In years)(In thousands)
Outstanding at September 28, 20247,082,389$14.24 2.8$210 
Exercised(177,433)$13.60  
Forfeited / expired(137,698)$14.73  
Outstanding at December 28, 20246,767,258$14.24 2.6$5,852 
As of December 28, 2024 and September 28, 2024, all outstanding stock options have vested and the Company had no unrecognized stock-based compensation expense related to stock options.
Restricted stock units ("RSU")
Pursuant to the 2018 Plan, the Company issues RSUs to employees and directors. 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 September 28, 202410,763,098$14.79 $130,772 
Granted6,737,566$12.38  
Released(1,919,356)$13.79  
Forfeited(492,848)$14.04  
Outstanding at December 28, 202415,088,460$13.87 $226,629 
As of December 28, 2024 and September 28, 2024, the Company had $156.8 million and $115.4 million of unrecognized stock-based compensation expense related to RSUs, which are expected to be recognized over weighted-average periods of 2.6 and 2.4 years, respectively.
Performance stock units ("PSU")
Pursuant to the 2018 Plan, the Company has issued and may issue certain PSUs that vest on the satisfaction of service and performance conditions. The number of outstanding PSUs is based on the target number of share awards. The number of shares vested at the end of the performance period is based on achievement of performance conditions and may include adjustments to reflect the extent to which the corresponding performance goals have been achieved. 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 September 28, 2024684,080$18.37 $8,312 
Released(7,194)$17.54 
Performance adjustment(1)
(121,250)$21.80 
Outstanding at December 28, 2024555,636$17.63 $8,346 
(1) Represents adjustment based on actual achievement of performance-based awards.
As of December 28, 2024 and September 28, 2024, the Company had $0.1 million and $0.2 million of unrecognized stock-based compensation expense related to PSUs, which are expected to be recognized over weighted-average period of 1.5 years.
Stock-based compensation
Total stock-based compensation expense by functional category was as follows:
Three Months Ended
December 28,
2024		December 30,
2023
(In thousands)
Cost of revenue$1,349 $654 
Research and development13,315 8,979 
Sales and marketing5,632 3,815 
General and administrative5,038 5,910 
Total stock-based compensation expense$25,334 $19,358