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Stock-Based Compensation (Tables) | 12 Months Ended
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Jun. 26, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of Option Activity | The following table summarizes option activity as of June 26, 2022 and changes during the fiscal year then ended (shares in thousands):
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Total Intrinsic Value (in millions of U.S. Dollars)
Outstanding at June 27, 2021 | 142 |  |  | $27.37 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Exercised | (73) |  |  | 29.46 |  |  |  |  |
Forfeited or expired | — |  |  | — |  |  |  |  |
Outstanding at June 26, 2022 | 69 |  |  | 25.12 |  |  | 0.96 |  | $3.2 |
Vested and expected to vest at June 26, 2022 | 69 |  |  | 25.12 |  |  | 0.96 |  | $3.2 |
Exercisable at June 26, 2022 | 69 |  |  | 25.12 |  |  | 0.96 |  | $3.2 |
Schedule of Stock Options Outstanding and Exercisable | The following table summarizes information about stock options outstanding and exercisable at June 26, 2022 (shares in thousands):
|  | Options Outstanding |  | Options Exercisable
Range of Exercise Price |  | Number |  | Weighted Average Remaining Contractual Life (Years) |  | Weighted Average Exercise Price |  | Number |  | Weighted Average Exercise Price
$0.01 to $25.00 |  | 48 |  |  | 1.2 |  | $24.32 |  |  | 48 |  |  | $24.32 |
$25.01 to $35.00 |  | 21 |  |  | 0.5 |  | 26.92 |  |  | 21 |  |  | 26.92 |
Total |  | 69 |  |  |  |  |  |  | 69 |  |  |
Schedule of Nonvested Restricted Stock Awards and Restricted Stock Unit Awards Outstanding | A summary of nonvested restricted stock units (RSUs) outstanding as of June 26, 2022 and changes during the year then ended is as follows (shares in thousands):
| Number of RSUs |  | Weighted Average Grant-Date Fair Value
Nonvested at June 27, 2021 | 2,168 |  |  | $57.38 |
Granted | 710 |  |  | 96.96 |
Vested | (916) |  |  | 49.12 |
Forfeited | (68) |  |  | 72.63 |
Nonvested at June 26, 2022 | 1,894 |  |  | $75.67 |
Schedule of Total Stock-Based Compensation Expense | Total stock-based compensation expense was classified in the consolidated statements of operations as follows:
| Fiscal Years Ended
(in millions of U.S. Dollars) | June 26, 2022 |  | June 27, 2021 |  | June 28, 2020
Cost of revenue, net | $16.0 |  |  | $14.4 |  |  | $10.0 |
Research and development | 9.9 |  |  | 8.7 |  |  | 8.0 |
Sales, general and administrative | 35.0 |  |  | 30.1 |  |  | 30.8 |
Total stock-based compensation expense | $60.9 |  |  | $53.2 |  |  | $48.8 |
Schedule of Weighted Average Assumptions Utilized to Value Stock-Based Compensation | The range of assumptions used to value stock issued under the ESPP were as follows:
| Fiscal Years Ended
| June 26, 2022 |  | June 27, 2021 |  | June 28, 2020
Risk-free interest rate | 0.03 - 2.10% |  | 0.03 - 0.17% |  | 0.12 - 2.67%
Expected life, in years | 0.5 - 1.0 |  | 0.5 - 1.0 |  | 0.5 - 1.0
Volatility | 60.6 - 69.4% |  | 52.4 - 82.6% |  | 34.5 - 82.6%
Dividend yield | — |  |  | — |  |  | — |
The range of assumptions used for issued performance units valued using the Monte Carlo model were as follows:
| Fiscal Years Ended
| June 26, 2022 |  | June 27, 2021 |  | June 28, 2020
Risk-free interest rate | 0.35% |  | 0.11 - 1.66% |  | 0.28 - 1.66%
Expected life, in years | 3.0 |  | 3.0 |  | 3.0
Average volatility of peer companies | 65.0% |  | 48.9 - 60.5% |  | 48.9 - 55.2%
Average correlation coefficient of peer companies | 0.47 |  | 0.36 - 0.51 |  | 0.36 - 0.45
Dividend yield | — |  |  | — |  |  | — |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition 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. + References No definition available. + Details
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