Employee Incentives

6 Months Ended

Jun. 26, 2021

Compensation And Retirement Disclosure [Abstract]

NOTE 10: EMPLOYEE INCENTIVES

Equity-Based Compensation

Equity-based compensation costs recognized in our condensed consolidated statements of operations were:


	Three Months Ended				Six Months Ended
(in millions)	June 26, 2021		June 27, 2020		June 26, 2021		June 27, 2020
Cost of sales	$	1	$	—	$	2	$	—
Sales and marketing		4		—		7		1
Research and development		7		—		10		—
General and administrative		7		2		14		15
Total equity-based compensation expense from continuing operations		19		2		33		16
Discontinued operations		33		2		45		3
Total equity-based compensation expense	$	52	$	4	$	78	$	19

As of June 26, 2021, there was $303 million of unrecognized equity-based compensation cost, which is expected to be recognized over a weighted average vesting period of 2.5 years.

During the six months ended June 26, 2021, we granted 1.8 million Restricted Stock Units (“RSU”s) with a grant date fair value of $42 million as part of the divestiture of the Enterprise Business (“Enterprise RSU grant”). The Enterprise RSU grants are expected to vest over a weighted average service period of less than one year.

During the six months ended June 26, 2021, we granted an additional 4.8 million RSU's with a grant date fair value of $107 million. These RSUs are generally expected to vest over a four-year period. We also granted 0.6 million Performance Stock Units (“PSU”s) with a fair value of $13 million. PSUs are generally expected to vest over a weighted average three-year period.

Deferred Cash and Equity

As of June 26, 2021, our outstanding deferred cash and equity related to our acquisitions is as follows:


	(in millions)
Outstanding deferred cash and equity balance at December 26, 2020	$	13
Accruals		3
Cash payment		(15	)
Outstanding deferred cash and equity balance at June 26, 2021	$	1

As of June 26, 2021, we have unrecognized expense relating to deferred cash of $3 million with a remaining weighted average service period of less than one year. Deferred cash is recorded within Accrued compensation and benefits on the condensed consolidated balance sheet.