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Stock-based Compensation (Tables)
12 Months Ended
Jul. 01, 2017
2007 Option Plan [Member]  
Summary of Stock Option Activity

The following table summarizes the stock option activity for fiscal 2017 under the 2007 Option Plan.

 

     Number of
Options
    Weighted
Average
Exercise Price
     Weighted
Average
Remaining
Contractual
Term
     Aggregate
Intrinsic Value

(in millions)
 

Outstanding as of July 2, 2016

     3,515,913     $ 13.10        

Granted

     —       $ —          

Exercised

     (711,067   $ 5.73        

Forfeited

     (55,573   $ 17.42        

Expired

     (3,232   $ 14.94        
  

 

 

         

Outstanding as of July 1, 2017

     2,746,041     $ 14.92        6.07      $ 34.3  
  

 

 

         

Vested or expected to vest as of July 1, 2017

     2,746,041     $ 14.92        6.07      $ 34.3  
  

 

 

         

Exercisable as of July 1, 2017

     947,471     $ 8.62        2.66      $ 17.8  
  

 

 

         
Summary of Changes in Nonvested Restricted Shares

The following table summarizes the changes in nonvested restricted shares for fiscal 2017 under the 2007 Option Plan.

 

     Shares      Weighted Average
Grant Date Fair Value
 

Nonvested as of July 2, 2016

     2,232,874      $ 8.43  

Vested

     —        $ —    

Forfeited

     (52,596    $ 8.36  
  

 

 

    

Nonvested as of July 1, 2017

     2,180,278      $ 8.36  
  

 

 

    
2007 Option Plan [Member] | Tranche One [Member]  
Summary of Weighted Average Assumptions

The Company estimated the fair value of the Tranche I time vesting options granted in the fiscal years below using a Black-Scholes option pricing model with the following weighted average assumptions:

 

     For the fiscal year
ended July 2, 2016
    For the fiscal year
ended June 27, 2015
 

Risk-free Interest Rate

     1.72     2.11

Dividend Yield

     0.00     4.13

Expected Volatility

     38.00     37.00

Expected Term (in years)

     6.5       10  

Weighted Average Fair Value of Options Granted

   $ 8.99     $ 4.27  
2007 Option Plan [Member] | Tranche Two and Three [Member]  
Summary of Weighted Average Assumptions

With the assistance of a specialist, the Company estimated the fair value of the Tranche II and III options and restricted shares with a market condition using a Monte Carlo simulation with the following weighted average assumptions:

 

     For the fiscal year ended July 2, 2016  
     Options     Market Condition
Restricted Shares
 

Risk-free Interest Rate

     1.23     1.23

Dividend Yield

     0.00     0.00

Expected Volatility

     30.00     30.00

Expected Term (in years)

     6.38       2.71  

Weighted Average Fair Value of Awards Granted

   $ 4.20     $ 8.43  
2015 Incentive Plan [Member]  
Summary of Weighted Average Assumptions

The Company estimated the fair value of options granted in the fiscal years below using a Black-Scholes option pricing model with the following weighted average assumptions:

 

     For the fiscal year
ended July 1, 2017
    For the fiscal year
ended July 2, 2016
 

Risk-free Interest Rate

     1.30     1.56

Dividend Yield

     0.00     0.00

Expected Volatility

     33.00     37.94

Expected Term (in years)

     6.25       6.25  

Weighted Average Fair Value of Awards Granted

   $ 9.10     $ 7.55  
Summary of Stock Option Activity

The following table summarizes the stock option activity for fiscal 2017 under the 2015 Incentive Plan.

 

     Number of
Options
    Weighted
Average
Exercise Price
     Weighted
Average
Remaining
Contractual
Term
     Aggregate
Intrinsic
Value

(in millions)
 

Outstanding as of July 2, 2016

     130,225     $ 19.09        

Granted

     448,719     $ 26.17        

Exercised

     (4,227   $ 19.00        

Forfeited

     —       $ —          
  

 

 

         

Outstanding as of July 1, 2017

     574,717     $ 24.62        8.94      $ 1.6  
  

 

 

         

Vested or expected to vest as of July 1, 2017

     574,717     $ 24.62        8.94      $ 1.6  
  

 

 

         

Exercisable as of July 1, 2017

     30,292     $ 19.10        8.26      $ 0.3  
  

 

 

         
Summary of Changes in Nonvested Restricted Shares and Restricted Stock Units

The following table summarizes the changes in nonvested restricted shares and restricted stock units for fiscal 2017 under the 2015 Incentive Plan.

 

     Shares      Weighted Average
Grant Date Fair Value
 

Nonvested as of July 2, 2016

     891,447      $ 18.31  

Granted

     593,032      $ 25.86  

Vested

     (354,618    $ 17.69  

Forfeited

     (19,404    $ 21.51  
  

 

 

    

Nonvested as of July 1, 2017

     1,110,457      $ 22.50