SHARE-BASED COMPENSATION

The Company's primary plan used for granting equity compensation awards is the 2017 Equity Incentive Plan (the "2017 Plan").

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



	Three-Month Periods Ended				Six-Month Periods Ended
	September 28, 2018		September 29, 2017		September 28, 2018		September 29, 2017
	(In thousands)
Cost of sales	$	4,767	$	4,985	$	10,171	$	8,304
Selling, general and administrative expenses	14,314		15,479		29,863		33,956
Total share-based compensation expense	$	19,081	$	20,464	$	40,034	$	42,260

Total unrecognized compensation expense related to share options under all plans was $4.3 million and will be recognized over a weighted-average remaining vesting period of 1.9 years. As of September 28, 2018, the number of options outstanding and exercisable under all plans was 1.1 million and 0.6 million, respectively, at a weighted-average exercise price of $3.40 per share and $4.02 per share, respectively.

During the six-month period ended September 28, 2018, the Company granted 5.5 million unvested restricted share unit awards. Of this amount, approximately 4.2 million are plain-vanilla unvested restricted share unit awards with no performance or market conditions with an average grant date price of $14.02 per award and will vest over four years. Further, approximately 1.3 million unvested shares represent 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 was estimated to be $14.00 per award and was calculated using a Monte Carlo simulation. The number of shares contingent on market conditions that ultimately will vest will range from zero up to a maximum of 2.6 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.

As of September 28, 2018, approximately 14.1 million unvested restricted share unit awards under all plans were outstanding, of which vesting for a targeted amount of 2.6 million is contingent primarily on meeting certain market conditions. The number of shares that will ultimately be issued can range from zero to 5.2 million based on the achievement levels of the respective conditions. During the six-month period ended September 28, 2018, 0.6 million shares vested in connection with the restricted share unit awards with market conditions granted in fiscal year 2016.

As of September 28, 2018, total unrecognized compensation expense related to unvested restricted share unit awards under all plans was approximately $168.6 million, and will be recognized over a weighted-average remaining vesting period of 2.7 years.