Share Plans

3 Months Ended

Dec. 25, 2020

Share Plans

Share Plans

15. Share Plans

Share-based compensation expense, which was included primarily in selling, general, and administrative expenses on the Condensed Consolidated Statements of Operations, was as follows:

	For the
	Quarters Ended
	December 25,		December 27,
	2020		2019
	(in millions)
Share-based compensation expense	$	19	$	22

As of December 25, 2020, there was $170 million of unrecognized compensation expense related to share-based awards, which is expected to be recognized over a weighted-average period of 2.2 years.

During the quarter ended December 25, 2020, we granted the following share-based awards as part of our annual incentive plan grant:

		Grant-Date
	Shares	Fair Value
	(in millions)
Share options	1.3	$	22.03
Restricted share awards	0.4		105.86
Performance share awards	0.2		105.86

As of December 25, 2020, we had 13 million shares available for issuance under the TE Connectivity Ltd. 2007 Stock and Incentive Plan, amended and restated as of September 17, 2020.

Share-Based Compensation Assumptions

The assumptions we used in the Black-Scholes-Merton option pricing model for the options granted as part of our annual incentive plan grant were as follows:

Expected share price volatility		28	%
Risk-free interest rate		0.5	%
Expected annual dividend per share	$	1.92
Expected life of options (in years)		5.4