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EMPLOYEE STOCK PLANS (Tables)

3 Months Ended

Jan. 03, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The table below summarizes the effect of recording share-based compensation expense and the option value of the employee stock purchase plan shares:

			Three Months Ended
(In millions)			January 3, 2025						December 29, 2023
Cost of revenues			$	0.5					$	0.5
Research and development			0.9						0.9
Selling, general, and administrative			2.7						2.3
Total share-based compensation expense			$	4.1					$	3.7

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes stock option activity under Varex’s employee incentive plans for the Company's employees:

(In thousands, except per share amounts and the remaining term)			Options						Price Range						Weighted Average Exercise Price						Weighted Average Remaining Term (in years)						Aggregate Intrinsic Value(1)
Outstanding at September 27, 2024			2,097						$13.61 - $37.60						$	26.79					5.5						$	—
Canceled, expired, or forfeited			(9)						$37.60 - $37.60						37.60
Outstanding at January 3, 2025			2,088						$13.61 - $37.10						$	26.74					5.2						$	116.5
Exercisable at January 3, 2025			1,779						$13.61 - $37.10						$	27.21					4.8						$	109.3

(1) The aggregate intrinsic value represents the total pre-tax intrinsic value, which is computed based on the difference between the exercise price and the closing price of Varex common stock of $14.26 as of January 3, 2025, the last trading date of the Company's first quarter, and which represents the amount that would have been received by the option holders had all option holders exercised their in-the-money options and sold the shares received upon exercise as of that date.

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

The following table summarizes the activity for restricted stock units, performance stock units, and deferred stock units under the 2020 Omnibus Stock Plan:

(In thousands, except per share amounts)			Number of Shares						Weighted Average Grant-Date Fair Value
Outstanding at September 27, 2024			1,670						$	20.74
Granted			632						15.83
Vested			(224)						19.93
Canceled or expired			(28)						20.54
Outstanding at January 3, 2025			2,050						$	19.36

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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