SHARE-BASED AWARDS (Notes)

9 Months Ended

May 02, 2020

Share-Based Awards [Abstract]

Share-based Payment Arrangement [Text Block]

NOTE 12—SHARE-BASED AWARDS

During the second quarter of fiscal 2020, the Company authorized for issuance and registered 7.2 million shares of common stock for issuance under the 2020 Equity Incentive Plan. In addition, the remaining shares that were available for issuance under the Company’s Amended and Restated 2012 Equity Incentive Plan may be issued under the 2020 Equity Incentive Plan. In the second quarter of fiscal 2020, the Company granted restricted stock units and performance share units representing a right to receive an aggregate of 5.8 million shares to its directors, executive officers and certain employees. As of May 2, 2020, there were 2.6 million shares available for issuance under the 2020 Equity Incentive Plan.

During the third quarter of fiscal 2020, the Company issued approximately 1.1 million shares of common stock at an average market price of $11.12 per share for $12.2 million of cash. Proceeds from these issuances were received in the third and fourth quarters of fiscal 2020 and were used to fund settlement of replacement award obligations.