XML 21 R2.htm IDEA: XBRL DOCUMENT

Pay vs Performance Disclosure - USD ($)

12 Months Ended

Jun. 30, 2024

Jun. 25, 2023

Jun. 26, 2022

Jun. 27, 2021


Year	Summary Compensation Table Total for PEO ($) (1)		Compensation Actually Paid to PEO ($) (1) (2) (3)		Average Summary Compensation Table Total for Non-PEO NEO ($) (1)		Average Compensation Actually Paid to Non-PEO NEO ($) (1) (2) (3)		Value of Initial Fixed $100 Investment based on: (4)				Net Income ($ Millions)		Revenue ($ Millions) (5)
									TSR ($)		Peer Group TSR ($)
(a)	(b)		(c)		(d)		(e)		(f)		(g)		(h)		(i)
2024	$	11,399,724	$	(1,116,224)	$	4,833,000	$	(288,099)	$	39.42	$	299.72	$	(325.9)	$	807.2
2023	$	12,477,839	$	7,947,159	$	5,275,059	$	1,625,479	$	85.64	$	190.01	$	(329.9)	$	922.0
2022	$	9,282,016	$	(2,027,399)	$	2,702,433	$	(818,332)	$	123.66	$	145.19	$	(200.9)	$	746.2
2021	$	13,287,668	$	19,320,787	$	2,707,751	$	9,822,525	$	170.75	$	170.93	$	(523.9)	$	525.6

Company Selected Measure Name

Revenue

Named Executive Officers, Footnote

Gregg A. Lowe was our PEO for each year presented. Neill P. Reynolds was our Non-PEO NEO for each year presented.

Peer Group Issuers, Footnote

The Peer Group TSR set forth in this table utilizes the Philadelphia Semiconductor Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the fiscal year ended June 30, 2024. The comparison assumes $100 was invested for the period starting June 28, 2020, through the end of the listed year in the Company and in the Philadelphia Semiconductor Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.

PEO Total Compensation Amount

$ 11,399,724

$ 12,477,839

$ 9,282,016

$ 13,287,668

PEO Actually Paid Compensation Amount

$ (1,116,224)

7,947,159

(2,027,399)

19,320,787

Adjustment To PEO Compensation, Footnote

Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEO as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the amounts from the Stock Awards column set forth in the Summary Compensation Table.


Year	Summary Compensation Table Total for PEO ($)		Exclusion of Stock Awards for PEO ($)		Inclusion of Equity Values for PEO ($)		Compensation Actually Paid to PEO ($)
2024	$	11,399,724	$	(10,329,212)	$	(2,186,736)	$	(1,116,224)


Year	Average Summary Compensation Table Total for Non-PEO NEO ($)		Average Exclusion of Stock Awards for Non-PEO NEO ($)		Average Inclusion of Equity Values for Non-PEO NEO ($)		Average Compensation Actually Paid to Non-PEO NEO ($)
2024	$	4,833,000	$	(4,131,604)	$	(989,495)	$	(288,099)

The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:


Year	Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for PEO ($)		Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for PEO ($)		Vesting Date Fair Value of Equity Awards Granted During Year that Vested During Year for PEO ($)	Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for PEO ($)		Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for PEO ($)	Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included for PEO ($)	Total - Inclusion of Equity Values for PEO ($)
2024	$	2,720,808	$	(5,879,712)	—	$	972,168	—	—	$	(2,186,736)


Year	Average Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Non-PEO NEO ($)		Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Non-PEO NEO ($)		Average Vesting Date Fair Value of Equity Awards Granted During Year that Vested During Year for Non-PEO NEO ($)	Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Non-PEO NEO ($)		Average Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year forNon-PEO NEO ($)	Average Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included for Non-PEO NEO ($)	Total - Average Inclusion of Equity Values for Non-PEO NEO ($)
2024	$	1,088,300	$	(1,990,233)	—	$	(87,562)	—	—	$	(989,495)

Non-PEO NEO Average Total Compensation Amount

$ 4,833,000

5,275,059

2,702,433

2,707,751

Non-PEO NEO Average Compensation Actually Paid Amount

$ (288,099)

1,625,479

(818,332)

9,822,525

Adjustment to Non-PEO NEO Compensation Footnote


Year	Summary Compensation Table Total for PEO ($)		Exclusion of Stock Awards for PEO ($)		Inclusion of Equity Values for PEO ($)		Compensation Actually Paid to PEO ($)
2024	$	11,399,724	$	(10,329,212)	$	(2,186,736)	$	(1,116,224)


Year	Average Summary Compensation Table Total for Non-PEO NEO ($)		Average Exclusion of Stock Awards for Non-PEO NEO ($)		Average Inclusion of Equity Values for Non-PEO NEO ($)		Average Compensation Actually Paid to Non-PEO NEO ($)
2024	$	4,833,000	$	(4,131,604)	$	(989,495)	$	(288,099)

The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:


Year	Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for PEO ($)		Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for PEO ($)		Vesting Date Fair Value of Equity Awards Granted During Year that Vested During Year for PEO ($)	Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for PEO ($)		Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for PEO ($)	Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included for PEO ($)	Total - Inclusion of Equity Values for PEO ($)
2024	$	2,720,808	$	(5,879,712)	—	$	972,168	—	—	$	(2,186,736)


Year	Average Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Non-PEO NEO ($)		Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Non-PEO NEO ($)		Average Vesting Date Fair Value of Equity Awards Granted During Year that Vested During Year for Non-PEO NEO ($)	Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Non-PEO NEO ($)		Average Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year forNon-PEO NEO ($)	Average Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included for Non-PEO NEO ($)	Total - Average Inclusion of Equity Values for Non-PEO NEO ($)
2024	$	1,088,300	$	(1,990,233)	—	$	(87,562)	—	—	$	(989,495)

Compensation Actually Paid vs. Total Shareholder Return

Description of Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Total Shareholder Return (“TSR”)

The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEO, the cumulative TSR over the four most recently completed fiscal years for the Company, and the Philadelphia Semiconductor Index TSR over the same period.

Compensation Actually Paid vs. Net Income

Description of Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Net Income

The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEO, and our Net Income during the four most recently completed fiscal years.

Compensation Actually Paid vs. Company Selected Measure

Description of Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Revenue

The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEO, and our Revenue during the four most recently completed fiscal years.

Tabular List, Table



Revenue
Non-GAAP Gross Margin
Adjusted EBITDA
Relative TSR

Total Shareholder Return Amount

$ 39.42

85.64

123.66

170.75

Peer Group Total Shareholder Return Amount

299.72

190.01

145.19

170.93

Net Income (Loss)

$ (325,900,000)

$ (329,900,000)

$ (200,900,000)

$ (523,900,000)

Company Selected Measure Amount

807,200,000

922,000,000.0

746,200,000

525,600,000

PEO Name

Gregg A. Lowe

Additional 402(v) Disclosure

The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below.We determined Revenue to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and Non-PEO NEO in fiscal 2024. This performance measure may not have been the most important financial performance measure for prior years and we may determine a different financial performance measure to be the most important financial performance measure in future years.