Annual report pursuant to Section 13 and 15(d)

Equity-Based Compensation (Tables)

v3.23.3
Equity-Based Compensation (Tables)
 12 Months Ended
Sep. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Stock Options Activity The following tables summarize our Stock Option activity under the Plan (in thousands, except per share amounts):

 

 

 

Year Ended

 

 

 

September 30, 2023

 

 

October 1, 2022

 

 

 

Number of Options

 

 

Weighted Average
Exercise Price

 

 

Number of Options

 

 

Weighted Average
Exercise Price

 

Outstanding, Beginning

 

 

3,780

 

 

$

18.24

 

 

 

4,877

 

 

$

18.22

 

Granted

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

(81

)

 

 

17.00

 

Forfeited/Expired

 

 

(472

)

 

 

19.25

 

 

 

(1,016

)

 

 

18.22

 

Balance, Ending

 

 

3,308

 

 

$

18.10

 

 

 

3,780

 

 

$

18.24

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and exercisable as of September 30, 2023

 

 

1,980

 

 

$

18.18

 

 

 

1,349

 

 

$

18.28

 

 

 

 

September 30, 2023

 

Aggregate intrinsic value of Stock Options outstanding

 

$

—

 

Unamortized value of unvested Stock Options

 

$

4,072

 

Weighted average years that expense is expected to be recognized

 

 

1.1

 

Weighted average remaining contractual years outstanding

 

 

7.5

 
Summary of RSU and PSU Activity under Plan

The following table summarizes our RSU and PSU activity under the Plan (in thousands, except per share amounts):

 

 

 

Year Ended

 

 

 

September 30, 2023

 

 

October 1, 2022

 

 

 

Number of RSUs/PSUs

 

 

Weighted Average
Grant Date Fair Value

 

 

Number of RSUs/PSUs

 

 

Weighted Average
Grant Date Fair Value

 

Outstanding, Beginning

 

 

2,297

 

 

$

10.04

 

 

 

3,135

 

 

$

6.90

 

Granted (1)

 

 

1,487

 

 

 

11.19

 

 

 

631

 

 

 

18.57

 

Vested

 

 

(1,057

)

 

 

7.00

 

 

 

(1,079

)

 

 

5.99

 

Forfeited

 

 

(643

)

 

 

11.58

 

 

 

(390

)

 

 

9.82

 

Balance, Ending

 

 

2,084

 

 

$

11.92

 

 

 

2,297

 

 

$

10.04

 

 

(1)
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 2023, 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 $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.

 

 

 

September 30, 2023

 

Unamortized value of unvested RSUs/PSUs

 

$

18,527

 

Weighted average period (years) expense is expected to be recognized

 

 

2.7