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EMPLOYEE STOCK PLANS
 6 Months Ended
Mar. 29, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
EMPLOYEE STOCK PLANS
EMPLOYEE STOCK PLANS
Share-Based Compensation Expense
Share-based compensation expense recognized in the condensed consolidated statements of earnings is based on awards ultimately expected to vest. Share-based compensation expense includes expenses related to the Company’s direct employees.
The table below summarizes the effect of recording the share-based compensation expense (which includes the option component of the employee stock purchase plan shares):
 
Three Months Ended
 
Six Months Ended
(In millions)
March 29, 2019
 
March 30, 2018
 
March 29, 2019
 
March 30, 2018
Cost of revenues
$
0.4

 
$
0.4

 
$
0.7

 
$
0.6

Research and development
0.9

 
0.5

 
1.4

 
0.8

Selling, general and administrative 
1.7

 
1.7

 
3.5

 
3.3

Total share-based compensation expense
$
3.0

 
$
2.6

 
$
5.6

 
$
4.7


Stock Option Activity
The following table summarizes the activity for stock options under Varex’s 2017 Omnibus Stock Plan and 2017 Employee Stock Purchase Plan for the Company’s employees:
 
Options Outstanding
(In thousands, except per share amounts and the remaining term)
Number of Shares
 
Weighted Average Exercise Price
 
Weighted Average Remaining Term (in years)
 
Aggregate Intrinsic Value(1)
Balance at September 28, 2018
2,011

 
$
30.35

 
 
 
 
Granted
297

 
31.42

 
 
 
 
Canceled, expired or forfeited
(4
)
 
31.08

 
 
 
 
Exercised
(5
)
 
24.87

 
 
 
 
Balance at March 29, 2019
2,299

 
$
30.50

 
4.56
 
$
8,526.0

 
 
 
 
 
 
 
 
Exercisable at March 29, 2019
1,352

 
$
29.22

 
3.73
 
$
6,508.0

(1) The aggregate intrinsic value represents the total pre-tax intrinsic value, which is computed based on the difference between the exercise price and the closing price of Varex common stock of $33.88 as of March 29, 2019, the last trading date of the Company's second quarter, and which represents the amount that would have been received by the option holders had all option holders exercised their options and sold the shares received upon exercise as of that date.
Restricted Stock Units
The following table summarizes the activity for restricted stock units under Varex’s 2017 Omnibus Stock Plan for the Company’s employees:
(In thousands, except per share amounts)
Number of Shares

Weighted Average Grant-Date Fair Value
Balance at September 28, 2018
641


$
33.60

Granted
287


31.30

Vested
(193
)

31.50

Canceled or expired
(40
)

33.88

Balance at March 29, 2019
695


$
33.21