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Stock-Based Compensation (Tables)
 3 Months Ended
Sep. 23, 2012
Stock-Based Compensation [Abstract]  
Stock Option Activity
The following table summarizes the stock option activities for the three months ended September 23, 2012 (in thousands, except per share price data):
 
 
Stock Option Shares
 
 
Weighted Average
Option Exercise
Price per Share
 
 
Weighted Average
Grant Date
Fair Value per Share
 
 
Aggregate
Intrinsic Value
 
Outstanding, June 24, 2012                                                                                          
 
 
2,044
 
 
$
16.76
 
 
 
—
 
 
$
7,031
 
Granted                                                                                      
 
 
8
 
 
$
17.64
 
 
$
5.16
 
 
 
—
 
Exercised                                                                                      
 
 
(51
)
 
$
13.06
 
 
 
—
 
 
$
243
 
Expired or forfeited                                                                                      
 
 
(48
)
 
$
16.21
 
 
 
—
 
 
 
—
 
Outstanding, September 23, 2012                                                                                         
 
 
1,953
 
 
$
16.87
 
 
 
—
 
 
$
3,502
 
Restricted Stock Unit Activity
The following table summarizes the RSU activity for the three months ended September 23, 2012 (in thousands, except per share price data):
 
 
Restricted Stock
Units
 
 
Weighted Average
Grant Date
Fair Value per Share
 
 
Aggregate
Intrinsic Value
 
Outstanding, June 24, 2012                                                                                              
 
 
2,905
 
 
$
21.72
 
 
$
57,932
 
Granted                                                                                          
 
 
78
 
 
$
17.64
 
 
 
—
 
Vested                                                                                          
 
 
(198
)
 
$
19.70
 
 
$
3,646
 
Forfeited
 
 
(247
)
 
$
20.03
 
 
 
—
 
Outstanding, September 23, 2012                                                                                              
 
 
2,538
 
 
$
21.92
 
 
$
45,453
 
Additional Information Relating to Stock Options and RSU's
The Company's stock based compensation plans and award documentation permit the reduction of a grantee's RSUs for purposes of settling a grantee's income tax obligation.  During the three months ended September 23, 2012, the Company withheld RSUs representing 51,720 underlying shares to fund grantees' income tax obligations.  Additional information relating to the Company's stock based compensation plans, including employee stock options and RSUs (including RSUs with performance based and market-based vesting criteria) at September 23, 2012 and June 24, 2012 is as follows (in thousands):
 
September 23, 2012
June 24, 2012
Outstanding options exercisable  
1,703
1,749
Options and RSUs available for grant  
8,799
8,505
Total reserved common stock shares for stock option plans  
13,290
13,454
Stock-Based Compensation Expense
For the three months ended September 23, 2012 and September 25, 2011, stock‑based compensation expense associated with the Company's stock options and RSUs (including RSUs with performance-based vesting and market-based vesting criteria) was as follows (in thousands):
 
 
Three Months Ended
 
 
 
September 23, 2012
 
 
September 25, 2011
 
Selling, general and administrative expense  
 
$
3,160
 
 
$
2,655
 
Research and development expense  
 
 
1,420
 
 
 
727
 
Cost of sales  
 
 
1,159
 
 
 
325
 
Total stock‑based compensation expense  
 
$
5,739
 
 
$
3,707
 
Stock Options Valuation Assumptions
The fair value of the Company stock options issued during the three months ended September 23, 2012 and September 25, 2011, was determined at the grant date using the Black‑Scholes option pricing model with the following weighted average assumptions:
 
Three Months Ended
 
September 23, 2012
September 25, 2011
Expected life  
3.5 years
3.5 years
Risk free interest rate  
0.4%
0.4%
Volatility  
39.4%
49.6%
Dividend yield  
0.0%
0.0%