XML 48 R19.htm IDEA: XBRL DOCUMENT v3.20.2
Employee Stock Purchase and Stock Incentive Plans
 12 Months Ended
Oct. 02, 2020
Share-based Payment Arrangement [Abstract]  
Employee Stock Purchase and Stock Incentive Plans Employee Stock Purchase and Stock Incentive Plans
Employee Stock Purchase Plans
Under the 1989 ESPP and the GESPP, eligible employees who elect to participate in these plans are granted the right to purchase shares of the common stock of Jacobs at a discount that is limited to 5% of the per-share market value on the day shares are sold to employees. The following table summarizes the stock issuance activity under the 1989 ESPP and the GESPP for the fiscal years ended October 2, 2020, September 27, 2019 and September 28, 2018:
 For the Years Ended
 October 2, 2020September 27, 2019September 28, 2018
Aggregate Purchase Price Paid for Shares Sold:   
Under the 1989 ESPP$25,364,252 $24,824,232 $21,590,858 
Under the GESPP2,448,349 2,471,193 2,240,609 
Total$27,812,601 $27,295,425 $23,831,467 
Aggregate Number of Shares Sold:   
Under the 1989 ESPP304,018 354,580 357,899 
Under the GESPP29,060 34,843 36,405 
Total333,078 389,423 394,304 
On January 19, 2017, the Company’s stockholders approved an increase in the number of shares authorized by 4,350,000 shares for the 1989 ESPP and by 150,000 shares for the GESPP.
At October 2, 2020, there remains 3,529,357 shares reserved for issuance under the 1989 ESPP and 74,672 shares reserved for issuance under the GESPP.
Stock Incentive Plans
We also sponsor the 1999 Stock Incentive Plan, as amended and restated (the "SIP") and the 1999 Outside Director Stock Plan, as amended and restated (the "ODSP"). The 1999 SIP provides for the issuance of incentive stock options, non-qualified stock options, share appreciation rights ("SARs"), restricted stock and restricted stock units to employees. The 1999 ODSP provides for awards of shares of common stock, restricted stock, restricted stock units and grants of non-qualified stock options to our outside (i.e., nonemployee) directors. The following table sets forth certain information about the 1999 Plans:
 1999 SIP1999 ODSPTotal
Number of shares authorized29,850,000 1,100,000 30,950,000 
Number of remaining shares reserved for issuance at October 2, 20205,272,572 359,875 5,632,447 
Number of shares relating to outstanding stock options at October 2, 2020568,114 138,375 706,489 
Number of shares available for future awards:  
At October 2, 20204,704,458 221,500 4,925,958 
At September 27, 20194,963,761 256,252 5,220,013 
Effective September 28, 2012, all grants of shares under the 1999 SIP are issued on a fungible basis.  An award other than an option or SAR are granted on a 1.92-to-1.00 basis (“Fungible”). An award of an option or SAR are granted on a 1-to-1 basis (“Not Fungible”).
The following table presents the fair value of shares (of restricted stock and restricted stock units) vested for the years ended October 2, 2020, September 27, 2019 and September 28, 2018 (in thousands):
 For the Years Ended
 October 2, 2020September 27, 2019September 28, 2018
Restricted Stock and Restricted Stock Units (service condition)$29,209 $37,864 $64,121 
Restricted Stock Units (service, market, and performance conditions at target)20,998 17,124 2,626 
Total$50,207 $54,988 $66,747 
At October 2, 2020, the amount of compensation cost relating to non-vested awards not yet recognized in the financial statements is approximately $61.3 million. The majority of these unrecognized compensation costs will be recognized by the first quarter of fiscal 2022. The weighted average remaining contractual term of options currently exercisable is 2.1 years.
Stock Options
    The following table summarizes the stock option activity for the years ended October 2, 2020, September 27, 2019 and September 28, 2018:
 Number of Stock OptionsWeighted Average
Exercise Price
Outstanding at September 29, 20172,516,825 $46.19 
Exercised(636,019)$46.93 
Cancelled or expired(114,047)$52.26 
Outstanding at September 28, 20181,766,759 $45.53 
Exercised(828,529)$45.63 
Cancelled or expired(11,624)$42.10 
Outstanding at September 27, 2019926,606 $45.48 
Exercised(212,467)$44.05 
Cancelled or expired(7,650)$45.31 
Outstanding at October 2, 2020706,489 $45.91 
Cash received from the exercise of stock options, net of tax remitted, during the year ended October 2, 2020 was $9.4 million.
Stock options outstanding at October 2, 2020 consisted entirely of non-qualified stock options. The following table presents the total intrinsic value of stock options exercised for the fiscal years ended October 2, 2020, September 27, 2019 and September 28, 2018 (in thousands):
For the Years Ended
October 2, 2020September 27, 2019September 28, 2018
$9,986$27,720$13,931
    The total intrinsic value of stock options exercisable at October 2, 2020 was approximately $34.1 million. The following table presents certain other information regarding our 1999 SIP and 1999 OSDP for the fiscal years ended October 2, 2020, September 27, 2019 and September 28, 2018:
 October 2, 2020September 27, 2019September 28, 2018
At fiscal year end:   
Range of exercise prices for options exercisable
$32.51–$60.43
$32.51–$60.43
$32.51–$60.43
Number of options exercisable706,489 860,114 1,557,900 
For the fiscal year:   
Range of prices relating to options exercised
$37.03–$60.08
$36.88-$60.43
$35.93-$61.26
    The following table presents certain information regarding stock options outstanding and stock options exercisable at October 2, 2020:
 October 2, 2020
 Options OutstandingOptions Exercisable
Range of Exercise PricesNumberWeighted Average Remaining Contractual Life (years)Weighted Average PriceNumberWeighted Average Exercise Price
$32.51 - $37.03
36,500 1.63$36.97 36,500 $36.97 
$37.43 - $46.09
468,077 4.51$43.08 468,077 $43.08 
$47.11 - $55.13
173,537 2.72$53.05 173,537 $53.05 
$60.08 - $80.63
28,375 3.35$60.39 28,375 $60.39 
 706,489 3.88$45.91 706,489 $45.91 
The 1999 ODSP and the 1999 SIP allow participants to satisfy the exercise price of stock options by tendering shares of Jacobs common stock that have been owned by the participants for at least six months. Shares so tendered are retired and canceled, and are shown as repurchases of common stock in the accompanying Consolidated Statements of Stockholders’ Equity. The weighted average remaining contractual term of options currently exercisable is 3.88 years.
Restricted Stock
The following table presents the number of shares of restricted stock and restricted stock units issued as common stock under the 1999 SIP for the years ended October 2, 2020, September 27, 2019 and September 28, 2018:
 
 For the Years Ended
 October 2, 2020September 27, 2019September 28, 2018
Restricted stock— — — 
Restricted stock units (service condition)351,670 318,056 1,087,724 
Restricted stock units (service and performance conditions)202,792 240,068 254,784 
The amount of restricted stock units issued for awards with performance and market conditions in the above table are issued based on performance against the target amount. The number of shares ultimately issued, which could be greater or less than target, will be based on achieving specific performance conditions related to the awards as well as achieving the service condition required for the restricted stock units to vest.
The following table presents the number and weighted average grant-date fair value of restricted stock and restricted stock units at October 2, 2020:
Number of SharesWeighted Average Grant-Date Fair Value
Outstanding at September 27, 20191,723,037 $65.80 
Granted 728,478 $85.61 
Vested (850,054)$60.37 
Canceled(75,935)$75.86 
Outstanding at October 2, 20201,525,526 $77.88 
The following table presents the number of shares of restricted stock and restricted stock units canceled and withheld for taxes under the 1999 SIP for the years ended October 2, 2020, September 27, 2019 and September 28, 2018:
 For the Years Ended
 October 2, 2020September 27, 2019September 28, 2018
Restricted stock34,417 105,301 284,254 
Restricted stock units (service condition)183,099 295,122 336,516 
Restricted stock units (service, market and performance conditions)160,781 183,654 95,063 
The amount of unvested restricted stock units canceled for awards with service and performance conditions in the above table is based on the service period achieved and performance against the target amount.
The restrictions attached to restricted stock and restricted stock units generally relate to the recipient’s ability to sell or otherwise transfer the stock or stock units. There are also restrictions that subject the stock and stock units to forfeiture back to the Company until earned by the recipient through continued employment or service.
The following table provides the number of restricted stock units outstanding at October 2, 2020 under the 1999 SIP. No shares of restricted stock were issued under the 1999 ODSP during such periods.
 October 2, 2020
Restricted stock— 
Restricted stock units (service condition)756,054 
Restricted stock units (service, market and performance conditions)647,262 
The following table presents the number of shares of restricted stock and restricted stock units issued under the 1999 ODSP for the years ended October 2, 2020, September 27, 2019 and September 28, 2018: 
 For the Years Ended
 October 2, 2020September 27, 2019September 28, 2018
Restricted stock units (service condition)18,100 26,372 21,620 
The following table provides the number of shares of restricted stock and restricted stock units outstanding at October 2, 2020 under the 1999 ODSP:
 October 2, 2020
Restricted stock34,000 
Restricted stock units (service condition)88,210 
All shares granted under the 1999 ODSP are issued on a 1.92-to-1.00 basis.