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EMPLOYEE STOCK PLANS (Tables)

6 Months Ended

Apr. 03, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

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)	April 3, 2020		March 29, 2019		April 3, 2020		March 29, 2019
Cost of revenues	$	0.3	$	0.4	$	0.6	$	0.7
Research and development	0.6		0.9		1.2		1.4
Selling, general and administrative	2.4		1.7		4.7		3.5
Total share-based compensation expense	$	3.3	$	3.0	$	6.5	$	5.6

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes the activity for stock options under Varex’s 2020 Omnibus Stock Plan, 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)	Options	Price Range	Weighted Average Exercise Price		Weighted Average Remaining Term (in years)	Aggregate Intrinsic Value⁽¹⁾
Outstanding at September 27, 2019	2,269	$22.63 - $37.60	$	30.60
Granted	398	$28.12 - $28.12	28.12
Canceled, expired or forfeited	(37)	$22.84 - $37.10	30.71
Exercised	(64)	$22.84 - $23.24	22.93
Outstanding at April 3, 2020	2,566	$22.63 - $37.60	$	30.40	4.7	$	—

Exercisable at April 3, 2020	1,619	$22.63 - $37.60	$	30.27	3.3	$	—

(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 $20.73 as of April 3, 2020, 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.

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

The following table summarizes the activity for restricted stock units under Varex’s 2020 Omnibus Stock Plan and 2017 Omnibus Stock Plan for the Company’s employees:


(In thousands, except per share amounts)	Number of Shares	Weighted Average Grant-Date Fair Value
Outstanding at September 27, 2019	678	$	33.18
Granted	347	25.62
Vested	(217)	32.77
Canceled or expired	(21)	33.04
Outstanding at April 3, 2020	787	$	29.96