Share Plans

9 Months Ended

Jun. 24, 2022

Share Plans

Share Plans

15. Share Plans

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

	For the				For the
	Quarters Ended				Nine Months Ended
	June 24,		June 25,		June 24,		June 25,
	2022		2021		2022		2021
	(in millions)
Share-based compensation expense	$	28	$	24	$	88	$	73

As of June 24, 2022, there was $160 million of unrecognized compensation expense related to share-based awards, which is expected to be recognized over a weighted-average period of 1.8 years.

During the quarter ended December 24, 2021, we granted the following share-based awards as part of our annual incentive plan grant:

		Grant-Date
	Shares	Fair Value
	(in millions)
Share options	0.8	$	37.67
Restricted share awards	0.3		158.00
Performance share awards	0.1		158.00

As of June 24, 2022, we had 11 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		29	%
Risk-free interest rate		1.1	%
Expected annual dividend per share	$	2.00
Expected life of options (in years)		5.1