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SHARE BASED COMPENSATION | 6 Months Ended
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Apr. 03, 2022
Share-based Payment Arrangement [Abstract] |
SHARE BASED COMPENSATION | SHARE BASED COMPENSATION The following is a summary of share based compensation expense for the three and six month periods ended April 3, 2022 and April 4, 2021 for SBH and SB/RH, respectively.
|  | Three Month Periods Ended |  | Six Month Periods Ended
(in millions) |  | April 3, 2022 |  | April 4, 2021 |  | April 3, 2022 |  | April 4, 2021
SBH |  | $ | 6.6 |  |  | $ | 7.2 |  |  | $ | 12.2 |  |  | $ | 13.7 |
SB/RH |  | $ | 6.2 |  |  | $ | 6.8 |  |  | $ | 11.8 |  |  | $ | 13.1 |
The Company recognizes share based compensation expense from the issuance of Restricted Stock Units (“RSUs”), primarily under its Long-Term Incentive Plan ("LTIP"), based on the fair value of the awards, as determined by the market price of the Company’s shares of common stock on the designated grant date and recognized on a straight-line basis over the requisite service period of the awards. RSUs granted under the LTIP include time-based grants and performance based grants. Time-based RSU awards provide for either three year cliff vesting or graded vesting depending upon the vesting conditions and forfeitures provided by the grant. Performance-based RSU awards that are dependent upon achieving specified financial metrics (adjusted EBITDA, return on adjusted equity, and/or adjusted free cash flow) by the end of the three year vesting period. Additionally, the Company regularly issues individual RSU awards under its equity plan to its Board members and individual employees for recognition, incentive, or retention purposes, when needed, which are primarily conditional upon time-based service conditions, valued based on the fair value of the awards as determined by the market price of the Company's share of common stock on the designated grant price date and recognized as a component of share-based compensation on a straight-line basis over the requisite service period of the award. The Company regularly issues annual grants under its LTIP during the first quarter of the fiscal year. The following is a summary of RSU grants issued during the six month period ended April 3, 2022:
|  | SBH |  | SB/RH
(in millions, except per share data) |  | Units |  | Weighted Average Grant Date Fair Value |  | Fair Value at Grant Date |  | Units |  | Weighted Average Grant Date Fair Value |  | Fair Value at Grant Date
Time-based grants |  |  |  |  |  |  |  |  |  |  |  |
Vesting in less than 12 months |  | 0.03 |  |  | $ | 96.83 |  |  | $ | 3.1 |  |  | 0.02 |  |  | $ | 96.74 |  |  | $ | 2.0 |
Vesting in more than 12 months |  | 0.08 |  |  | 96.87 |  |  | 7.7 |  |  | 0.08 |  |  | 96.80 |  |  | 7.7 |
Total time-based grants |  | 0.11 |  |  | $ | 96.86 |  |  | $ | 10.8 |  |  | 0.10 |  |  | $ | 96.79 |  |  | $ | 9.7 |
Performance-based grants |  | 0.17 |  |  | $ | 96.95 |  |  | $ | 16.7 |  |  | 0.17 |  |  | $ | 96.95 |  |  | $ | 16.7 |
Total grants |  | 0.28 |  |  | $ | 96.91 |  |  | $ | 27.5 |  |  | 0.27 |  |  | $ | 96.89 |  |  | $ | 26.4 |

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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