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Equity-Based Compensation (Tables) | 9 Months Ended
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Jun. 29, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Options Activity | The following tables summarizes our Stock Option activity under the Plan during the nine months ended June 29, 2024 (in thousands, except per share amounts):
|  | Number of Options |  |  | Weighted Average Exercise Price |
Outstanding, Beginning as of October 1, 2023 |  |  | 3,308 |  |  | $ | 18.10 |
Granted |  |  | — |  |  |  | — |
Exercised |  |  | — |  |  |  | — |
Forfeited/Expired |  |  | (1,165 | ) |  |  | 17.76 |
Balance, Ending as of June 29, 2024 |  |  | 2,143 |  |  | $ | 18.29 |
Vested and exercisable as of June 29, 2024 |  |  | 1,689 |  |  | $ | 18.31 |
|  | As of June 29, 2024 |
Aggregate intrinsic value of options outstanding |  | $ | — |
Unamortized value of unvested stock options |  | $ | 1,060 |
Weighted average years that expense is expected to be recognized |  |  | 0.5 |
Weighted average remaining contractual years outstanding |  |  | 6.8 |
Summary of RSU and PSU Activity under Plan | The following table summarizes our RSU and PSU activity under the Plan during the nine months ended June 29, 2024 (in thousands, except per share amounts):
|  | Number of RSUs/PSUs |  |  | Weighted Average Grant Date Fair Value |
Outstanding, Beginning as of October 1, 2023 |  |  | 2,084 |  |  | $ | 11.92 |
Granted |  |  | 2,086 |  |  |  | 5.45 |
Vested |  |  | (727 | ) |  |  | 9.23 |
Forfeited |  |  | (467 | ) |  |  | 10.90 |
Balance, Ending June 29, 2024 |  |  | 2,976 |  |  | $ | 8.20 |
During the nine months ended June 29, 2024, 0.4 million PSUs were granted subject to the Company achieving certain adjusted net income and sales performance targets on a cumulative basis during fiscal years 2024 and 2025. The criteria are based on a range of these performance targets in which participants may earn between 0% to 200% of the base number of awards granted. The weighted average grant date fair value of the PSUs was $5.43. The Company assesses the attainment of target payout rates each reporting period. Equity-based compensation expense is recognized for awards deemed probable of vesting. In December 2022, the Company granted 0.3 million PSUs subject to the Company achieving certain adjusted net income and sales performance targets on a cumulative basis during each of the fiscal years 2023, 2024, and 2025. The criteria are based on a range of these performance targets in which participants may earn between 0% to 200% of the base number of awards granted. As of June 29, 2024, the performance targets had not been met for the PSUs to vest, and no PSUs had vested as of such date.
|  | As of June 29, 2024 |
Unamortized value of unvested RSUs/PSUs |  | $ | 17,548 |
Weighted average period (years) expense is expected to be recognized |  |  | 2.6 |

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