Benefit Plans

Stock Plans

The Company had 237.9 million shares reserved for future issuance under its stock plans as of December 29, 2018. Restricted stock units (“RSUs”) granted under the Company’s stock plans generally vest over four years, based on continued employment, and are settled upon vesting in shares of the Company’s common stock on a one-for-one basis. Each share issued with respect to RSUs granted under the Company’s stock plans reduces the number of shares available for grant under the plans by two shares. RSUs canceled and shares withheld to satisfy tax withholding obligations increase the number of shares available for grant under the plans utilizing a factor of two times the number of RSUs canceled or shares withheld.

Rule 10b5-1 Trading Plans

During the three months ended December 29, 2018, Section 16 officers Angela Ahrendts, Timothy D. Cook, Chris Kondo, Luca Maestri and Jeffrey Williams had equity trading plans in place in accordance with Rule 10b5-1(c)(1) under the Exchange Act. An equity trading plan is a written document that pre-establishes the amounts, prices and dates (or formula for determining the amounts, prices and dates) of future purchases or sales of the Company’s stock, including shares acquired pursuant to the Company’s employee and director equity plans.

Restricted Stock Units

A summary of the Company’s RSU activity and related information for the three months ended December 29, 2018 is as follows:



	Number of RSUs (in thousands)		Weighted-Average Grant Date Fair Value Per RSU		Aggregate Fair Value (in millions)
Balance as of September 29, 2018	92,155		$	134.60
RSUs granted	29,228		$	223.41
RSUs vested	(18,935	)	$	124.36
RSUs canceled	(1,147	)	$	154.53
Balance as of December 29, 2018	101,301		$	161.91	$	15,826

The fair value as of the respective vesting dates of RSUs was $4.1 billion and $3.1 billion for the three months ended December 29, 2018 and December 30, 2017, respectively.

Share-Based Compensation

The following table shows share-based compensation expense and the related income tax benefit included in the Condensed Consolidated Statements of Operations for the three months ended December 29, 2018 and December 30, 2017 (in millions):



	Three Months Ended
	December 29, 2018			December 30, 2017
Share-based compensation expense	$	1,559		$	1,296
Income tax benefit related to share-based compensation expense	$	(750	)	$	(631	)

As of December 29, 2018, the total unrecognized compensation cost related to outstanding RSUs and stock options was $14.0 billion, which the Company expects to recognize over a weighted-average period of 2.9 years.