Equity-Based Compensation

3 Months Ended

Dec. 28, 2024

Share-Based Payment Arrangement [Abstract]

Compensation expense related to stock options and restricted stock units (RSUs) is as follows:


	Quarter Ended
	December 28, 2024		December 30, 2023
Stock options	$	16	$	17
RSUs	301		291
Total equity-based compensation expense(1)	$	317	$	308
Equity-based compensation expense capitalized during the period	$	44	$	44

(1)Equity-based compensation expense is net of capitalized equity-based compensation and estimated forfeitures and excludes amortization of previously capitalized equity-based compensation costs.

Unrecognized compensation cost related to unvested stock options and RSUs was $66 million and $1.5 billion, respectively, as of December 28, 2024.

Each fiscal year, generally in December or January, the Company awards stock options and restricted stock units to a broad-based group of management, technology and creative personnel (Annual Grant). Substantially all of the Annual Grant was issued in January 2025. The Annual Grant consisted of 2.4 million stock options and 14.2 million RSUs with weighted average grant date fair values of $37.98 and $109.20, respectively. During the quarter ended December 30, 2023, the weighted average grant date fair values for stock options and RSUs were $32.06 and $93.87, respectively.