Equity Plans

9 Months Ended

May 26, 2023

Share-Based Payment Arrangement [Abstract]

As of May 26, 2023, 7.5 million shares of our ordinary shares were available for future awards under our equity plans.

Restricted Share Awards and Restricted Share Units Awards (“Restricted Awards”)

Aggregate Restricted Award activity was as follows:


	Three Months Ended				Nine Months Ended
	May 26, 2023		May 27, 2022		May 26, 2023		May 27, 2022
Awards granted	1,270		935		2,492		1,581
Weighted-average grant date fair value per share	$	15.98	$	24.25	$	17.49	$	25.96
Aggregate vesting date fair value of shares vested	$	6,418	$	24,098	$	22,032	$	42,326

As of May 26, 2023, total unrecognized compensation costs for unvested Restricted Awards was $91.9 million, which was expected to be recognized over a weighted-average period of 2.7 years.

Share Options

As of May 26, 2023, total aggregate unrecognized compensation costs for unvested options was $1.5 million, which was expected to be recognized over a weighted-average period of 1.2 years.

Employee Share Purchase Plan (“ESPP”)

Under our ESPP, employees purchased 602 thousand ordinary shares for $6.6 million in the first nine months of 2023 and 307 thousand shares for $6.5 million in the first nine months of 2022.

Share-Based Compensation Expense


	Three Months Ended				Nine Months Ended
	May 26, 2023		May 27, 2022		May 26, 2023		May 27, 2022
Share-based compensation expense by caption:
Cost of sales	$	1,655	$	1,724	$	4,732	$	5,103
Research and development	1,617		1,679		4,692		4,778
Selling, general and administrative	6,759		7,144		21,414		20,414
	$	10,031	$	10,547	$	30,838	$	30,295

Income tax benefits related to the tax deductions for share-based awards are recognized only upon the settlement of the related share-based awards. Income tax benefits for share-based awards were $2.2 million and $6.2 million in the third quarter and first nine months of 2023, respectively, and $5.1 million and $10.1 million in the third quarter and first nine months of 2022, respectively.