SHARE-BASED COMPENSATION

The Company's primary plan used for granting equity compensation awards is the 2010 Equity Incentive Plan (the "2010 Plan").

The following table summarizes the Company’s share-based compensation expense:



	Three-Month Periods Ended
	June 30, 2017		July 1, 2016
	(In thousands)
Cost of sales	$	3,319	$	2,433
Selling, general and administrative expenses	18,477		21,364
Total share-based compensation expense	$	21,796	$	23,797

Total unrecognized compensation expense related to share options under the 2010 Plan and other immaterial plans was $7.8 million, and will be recognized over a weighted-average remaining vesting period of 1.8 years. As of June 30, 2017, the number of options outstanding and exercisable under the 2010 Plan and other immaterial plans was 1.8 million and 0.5 million, respectively, at a weighted-average exercise price of $3.66 per share and $6.00 per share, respectively.

During the three-month period ended June 30, 2017, the Company granted 4.8 million unvested share bonus awards under the 2010 Plan. Of this amount, approximately 4.0 million unvested share bonus awards have an average grant date price of $16.39 per share and vest over four years. Further, approximately 0.6 million of these unvested shares represents the target amount of grants made to certain key employees whereby vesting is contingent on certain market conditions. The average grant date fair value of these awards contingent on certain market conditions is still pending; however, the expense for the three-month period ended June 30, 2017 is immaterial as these awards were granted on the last day of the quarter. The number of shares under the 2010 Plan, contingent on market conditions that ultimately will vest will range from zero up to a maximum of 1.2 million based on a measurement of the percentile rank of the Company’s total shareholder return over a certain specified period against the Standard and Poor’s (“S&P”) 500 Composite Index and will cliff vest after a period of three years, if such market conditions have been met. No additional share options under the immaterial plans were granted by the Company during the three-month period ended June 30, 2017.

As of June 30, 2017, approximately 16.9 million unvested share bonus awards under the 2010 Plan and other immaterial plans were outstanding, of which vesting for a targeted amount of 2.1 million is contingent primarily on meeting certain market conditions. The number of shares that will ultimately be issued can range from zero to 4.2 million based on the achievement levels of the respective conditions. During the three-month period ended June 30, 2017, 1.4 million shares under the 2010 Plan vested in connection with the share bonus awards with market conditions granted in fiscal year 2015.

As of June 30, 2017, total unrecognized compensation expense related to unvested share bonus awards under the 2010 Plan and other immaterial plans was approximately $194.7 million, and will be recognized over a weighted-average remaining vesting period of 2.9 years.