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Stock-Based Compensation (Tables)

12 Months Ended

Jun. 25, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Option Activity

The following table summarizes option activity as of June 25, 2023 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 26, 2022			69						$25.12
Granted			—						—
Exercised			(42)						25.38
Forfeited or expired			(2)						27.09
Outstanding at June 25, 2023			25						24.55						0.25						$0.6
Vested and expected to vest at June 25, 2023			25						24.55						0.25						$0.6
Exercisable at June 25, 2023			25						24.55						0.25						$0.6

Schedule of Stock Options Outstanding and Exercisable

The following table summarizes information about stock options outstanding and exercisable at June 25, 2023 (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						22						0.2						$24.26						22						$24.26
$25.01 to $35.00						3						0.5						26.71						3						26.71
Total						25																		25

Schedule of Nonvested Restricted Stock Awards and Restricted Stock Unit Awards Outstanding

A summary of nonvested restricted stock units (RSUs) outstanding as of June 25, 2023 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 26, 2022			1,894						$75.67
Granted			1,411						86.62
Vested			(714)						64.45
Forfeited			(251)						78.82
Nonvested at June 25, 2023			2,340						$85.32

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 25, 2023						June 26, 2022						June 27, 2021
Cost of revenue, net			$21.5						$16.0						$14.4
Research and development			15.8						9.9						8.7
Sales, general and administrative			44.6						35.0						30.1
Total stock-based compensation expense			$81.9						$60.9						$53.2

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 25, 2023						June 26, 2022						June 27, 2021
Risk-free interest rate			4.57 - 5.06%						0.03 - 2.10%						0.03 - 0.17%
Expected life, in years			0.5 - 1.0						0.5 - 1.0						0.5 - 1.0
Volatility			66.8 - 86.2%						60.6 - 69.4%						52.4 - 82.6%
Dividend yield			—						—						—

The range of assumptions used for performance-based awards with market conditions were as follows:

			Fiscal Years Ended
			June 25, 2023						June 26, 2022						June 27, 2021
Risk-free interest rate			2.80%						0.35%						0.11 - 1.66%
Expected life, in years			3.0						3.0						3.0
Average volatility of peer companies			68.8%						65.0%						48.9 - 60.5%
Average correlation coefficient of peer companies			0.48						0.47						0.36 - 0.51
Dividend yield			—						—						—

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