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Stockholders' Equity and Stock Compensation Plans (Tables)
12 Months Ended
Sep. 27, 2020
Stockholders' Equity Note [Abstract]  
Schedule of the stock-based compensation and related income tax benefits
The following table presents our stock-based compensation and related income tax benefits:
 Fiscal Year Ended
 September 27,
2020
September 29,
2019
September 30,
2018
 (in thousands)
Total stock-based compensation$19,424 $17,618 $19,582 
Income tax benefit related to stock-based compensation(4,318)(4,016)(5,288)
Stock-based compensation, net of tax benefit$15,106 $13,602 $14,294 
Schedule of stock option activity
The following table presents our stock option activity for fiscal year ended September 27, 2020:
 Number of
Options
(in thousands)
Weighted-
Average
Exercise Price
per Share
Weighted-
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic Value
(in thousands)
Outstanding on September 29, 2019894 $33.28   
Exercised(355)28.63   
Forfeited— —   
Outstanding at September 27, 2020539 36.34 5.04$29,623 
Vested or expected to vest at September 27, 2020539 36.34 5.0429,623 
Exercisable on September 27, 2020437 34.17 4.6224,932 
Schedule of assumptions used in the calculation of the fair value of stock options using the Black-Scholes option pricing model The following assumptions were used in the calculation for fiscal 2018:
 Fiscal Year Ended
 September 30,
2018
Dividend yield1.0%
Expected stock price volatility
36.1% - 38.8%
Risk-free rate of return, annual
1.7% - 2.9%
Schedule of RSU and PSU activity
A summary of the RSU and PSU activity under our stock plans is as follows:
RSUPSU
 Number of
Shares
(in thousands)
Weighted-
Average
Grant Date
Fair Value
per Share
Number of
Shares
(in thousands)
Weighted-
Average
Grant Date
Fair Value
per Share
Nonvested balance at October 1, 2017511 $33.19 376 $36.05 
Granted199 48.16 99 57.40 
Vested(184)31.85 (270)31.66 
Adjustment (1)
— — 131 31.66 
Forfeited(38)36.39 (13)41.80 
Nonvested balance at September 30, 2018488 39.56 323 44.27 
Granted179 66.26 90 80.41 
Vested(180)36.95 (108)31.63 
Adjustment (1)
— — 79 31.63 
Forfeited(17)48.56 — — 
Nonvested balance at September 29, 2019470 50.42 384 53.67 
Granted168 83.92 74 99.85 
Vested(178)46.87 (162)47.28 
Adjustment (1)
— — 64 48.36 
Forfeited(16)65.43 (5)83.98 
Nonvested balance at September 27, 2020444 63.93 355 64.83 
(1) For fiscal 2018, includes a payout adjustment of 130,730 PSUs due to the actual performance level achieved for PSUs granted in fiscal 2015 that vested fiscal 2018. For fiscal 2019, includes a payout adjustment of 79,465 PSUs due to the actual performance level achieved for PSUs granted in fiscal 2016 that vested during fiscal 2019. For fiscal 2020 includes a payout adjustment of 63,643 PSUs due to the actual performance level achieved for PSUs granted in fiscal 2017 that vested during fiscal 2020.
Summary of shares purchased, weighted-average purchase price, and cash received, for shares purchased under the ESPP
The following table summarizes shares purchased, weighted-average purchase price, and cash received for shares purchased under the ESPP:
 Fiscal Year Ended
 September 27,
2020
September 29,
2019
September 30,
2018
 (in thousands, except for purchase price)
Shares purchased168 148 141 
Weighted-average purchase price per share$51.77 $46.38 $40.38 
Cash received from exercise of purchase rights$8,715 $6,844 $5,727 
Schedule of the assumptions used in the Black-Scholes option pricing model in estimating the grant date fair value of each award granted under the ESPP
The grant date fair value of each award granted under the ESPP was estimated using the Black-Scholes option pricing model with the following assumptions:
 Fiscal Year Ended
 September 27,
2020
September 29,
2019
September 30,
2018
Dividend yield1.0%1.0%1.0%
Expected stock price volatility26.5%26.7%24.0%
Risk-free rate of return, annual1.6%2.6%1.8%
Expected life (in years)111