XML 27 R16.htm IDEA: XBRL DOCUMENT v3.21.2
Benefit Plans
 9 Months Ended
Jun. 26, 2021
Share-based Payment Arrangement [Abstract]  
Benefit Plans Benefit Plans
Stock Plans
The Company had 757 million shares reserved for future issuance under its stock plans as of June 26, 2021. RSUs granted under the Company’s stock plans generally vest over four years, based on continued employment, and are settled upon vesting in shares of the Company’s common stock on a one-for-one basis. RSUs granted under the Company’s stock plans reduce the number of shares available for grant under the plans by a factor of two times the number of RSUs granted. RSUs canceled and shares withheld to satisfy tax withholding obligations increase the number of shares available for grant under the plans utilizing a factor of two times the number of RSUs canceled or shares withheld.
Rule 10b5-1 Trading Plans
During the three months ended June 26, 2021, Section 16 officers Katherine L. Adams, Timothy D. Cook, Luca Maestri, Deirdre O’Brien and Jeffrey Williams had equity trading plans in place in accordance with Rule 10b5-1(c)(1) under the Exchange Act. An equity trading plan is a written document that pre-establishes the amounts, prices and dates (or formula for determining the amounts, prices and dates) of future purchases or sales of the Company’s stock, including shares acquired under the Company’s employee and director equity plans.
Restricted Stock Units
A summary of the Company’s RSU activity and related information for the nine months ended June 26, 2021 is as follows:
Number of
RSUs
(in thousands)
Weighted-Average
Grant Date Fair
Value Per RSU
Aggregate
Fair Value
(in millions)
Balance as of September 26, 2020310,778 $51.58 
RSUs granted85,052 $114.68 
RSUs vested(134,462)$51.59 
RSUs canceled(10,396)$67.08 
Balance as of June 26, 2021250,972 $72.31 $33,407 
The fair value as of the respective vesting dates of RSUs was $7.9 billion and $17.3 billion for the three- and nine-month periods ended June 26, 2021, respectively, and was $5.0 billion and $9.8 billion for the three- and nine-month periods ended June 27, 2020, respectively.
Share-Based Compensation
The following table shows share-based compensation expense and the related income tax benefit included in the Condensed Consolidated Statements of Operations for the three- and nine-month periods ended June 26, 2021 and June 27, 2020 (in millions):
Three Months EndedNine Months Ended
June 26,
2021		June 27,
2020		June 26,
2021		June 27,
2020
Share-based compensation expense$1,960 $1,698 $5,961 $5,105 
Income tax benefit related to share-based compensation expense
$(1,319)$(740)$(3,518)$(1,942)
As of June 26, 2021, the total unrecognized compensation cost related to outstanding RSUs and stock options was $15.3 billion, which the Company expects to recognize over a weighted-average period of 2.7 years.