Annual report pursuant to Section 13 and 15(d)

Equity-Based Compensation - Summary of RSU and PSU Activity under Plan (Details)

v3.24.3
Equity-Based Compensation - Summary of RSU and PSU Activity under Plan (Details) - Restricted Stock Units And Performance Units - $ / shares
shares in Thousands
 12 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Beginning Balance 2,084 2,297
Granted [1] 2,937 1,487
Vested (793) (1,057)
Forfeited (1,181) (643)
Ending Balance 3,047 2,084
Weighted Average Grant Date Fair Value, Beginning Balance $ 11.92 $ 10.04
Weighted Average Grant Date Fair Value, Granted [1] 4.73 11.19
Weighted Average Grant Date Fair Value, Vested 9.3 7
Weighted Average Grant Date Fair Value, Forfeited 9.04 11.58
Weighted Average Grant Date Fair Value, Ending Balance $ 6.79 $ 11.92
[1] For the year ended September 28, 2024, granted amounts include 0.4 million PSUs 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.

For the year ended September 30, 2023, granted amounts includes 0.3 million PSUs granted in December 2022 subject to the Company achieving certain adjusted net income and sales performance targets on a cumulative basis during each of fiscal years 2024, 2025, and 2026. 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 $12.04. The Company assesses the attainment of target payout rates each reporting period. Equity-based compensation expense is recognized for awards deemed probable of vesting.