SHARE BASED COMPENSATION

3 Months Ended

Jan. 02, 2022

Share-based Payment Arrangement [Abstract]

Share based compensation expense is recognized as General and Administrative Expenses on the Condensed Consolidated Statements of Income. The following is a summary of share based compensation expense for the three month periods ended January 2, 2022 and January 3, 2021 for SBH and SB/RH, respectively.


	Three Month Periods Ended
(in millions)	January 2, 2022		January 3, 2021
SBH	$	5.6	$	6.4
SB/RH	$	5.6	$	6.4

The Company recognizes share based compensation expense from the issuance of its Restricted Stock Units (“RSUs”), primarily under its Long-Term Incentive Plan ("LTIP"), based on the fair value of the awards, as determined by the market price of the Company’s shares of common stock on the designated grant date and recognized on a straight-line basis over the requisite service period of the awards. Certain RSUs are time-based grants that provide for either 3-year cliff vesting or graded vesting depending upon the vesting conditions and forfeitures provided by the grant. Certain RSUs are performance-based awards that are dependent upon achieving specified financial metrics (adjusted EBITDA, return on adjusted equity, and/or adjusted free cash flow) over a designated period of time. Additionally, the Company regularly issues individual RSU awards under its equity plan to its Board members and individual employees for recognition, incentive, or retention purposes, when needed, which are primarily conditional upon time-based service conditions and included as a component of share-based compensation.

The following is a summary of the activity in the Company RSUs during the three month period ended January 2, 2022:


	SBH					SB/RH
(in millions, except per share data)	Units	Weighted Average Grant Date Fair Value		Fair Value at Grant Date		Units	Weighted Average Grant Date Fair Value		Fair Value at Grant Date
Time-based grants
Vesting in less than 24 months	0.05	$	97.01	$	4.8	0.04	$	97.01	$	3.7
Vesting in more than 24 months	0.06	97.01		5.7		0.06	97.01		5.7
Total time-based grants	0.11	$	97.01	$	10.5	0.10	$	97.01	$	9.4
Performance-based grants
Vesting in more than 24 months	0.17	$	97.01	$	16.5	0.17	$	97.01	$	16.5
Total performance-based grants	0.17	$	97.01	$	16.5	0.17	$	97.01	$	16.5
Total grants	0.28	$	97.01	$	27.0	0.27	$	97.01	$	25.9


	SBH					SB/RH
(in millions, except per share data)	Units	Weighted Average Grant Date Fair Value		Fair Value at Grant Date		Units	Weighted Average Grant Date Fair Value		Fair Value at Grant Date
At September 30, 2021	1.46	$	64.00	$	93.2	1.43	$	63.85	$	91.6
Granted	0.28	97.01		27.0		0.27	97.01		25.9
Forfeited	(0.01)	64.08		(0.2)		(0.01)	64.08		(0.2)
Vested	(0.60)	55.10		(33.4)		(0.58)	54.36		(31.7)
At January 2, 2022	1.13	$	76.95	$	86.6	1.11	$	76.78	$	85.6

The remaining unrecognized pre-tax compensation cost for SBH and SB/RH at January 2, 2022 was $55.8 million and $54.8 million, respectively.