Shareholders' Equity (Tables)

9 Months Ended

Mar. 28, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Award Activity

The following table summarizes RSU and PSU award activity under the Company’s incentive plans during the nine months ended March 28, 2025:

	Number of Shares	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value at Vest Date
	(in millions)
RSUs and PSUs outstanding at June 28, 2024	—	$	—	$	—
Awards converted from Western Digital Corporation Plans (1)	6.4	35.32		—
Granted	0.1	54.53		—
Issued	(0.4)	31.66		21.93
RSUs and PSUs outstanding at March 28, 2025	6.1	$	35.95	$	21.93

(1) This amount excludes 3.1 million of WDC equity awards held by Sandisk employees, which upon vesting will be issued in WDC shares instead of the Company’s shares.

Schedule of Stock-based Compensation Awards

The following table presents the unamortized compensation cost and weighted average service period of all unvested outstanding awards as of March 28, 2025:

	Unamortized Compensation Costs		Weighted average service period
	(in millions)		(years)
RSUs and PSUs	$	269	2.39
Total unamortized compensation cost	$	269	2.39

Schedule of Stock-based Compensation Expense

The following tables present the Company’s stock-based compensation for equity-settled awards by type, financial statement line, and the related tax benefit included in the Company’s Condensed Consolidated Statements of Operations:

	Three Months Ended				Nine Months Ended
	March 28, 2025		March 29, 2024		March 28, 2025		March 29, 2024
	(in millions)
RSUs and PSUs	$	43	$	32	$	124	$	102
ESPP	1		6		9		13
Total	$	44	$	38	$	133	$	115

	Three Months Ended				Nine Months Ended
	March 28, 2025		March 29, 2024		March 28, 2025		March 29, 2024
	(in millions)
Cost of revenue	$	3	$	5	$	12	$	15
Research and development	20		19		60		54
Selling general, and administrative	21		14		61		46
Subtotal	$	44	$	38	$	133	$	115
Tax benefit	5		(5)		(26)		(15)
Total	$	49	$	33	$	107	$	100