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SHAREHOLDERS' EQUITY AND EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Sep. 28, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Company’s matching contributions to the Plan
The following table reflects the Company’s contributions to the Plan during fiscal 2019 and 2018:
 
 
Fiscal
(in thousands)
 
2019
 
2018
Cash
 
$
1,648

 
$
1,610
Accumulated other comprehensive income reflected on the Consolidated Balance Sheets
The following table reflects accumulated other comprehensive income / (loss) reflected on the Consolidated Balance Sheets as of September 28, 2019 and September 29, 2018: 
 
 
As of
(in thousands)
 
September 28, 2019
 
September 29, 2018
Loss from foreign currency translation adjustments
 
$
(7,745
)
 
$
(1,211
)
Unrecognized actuarial loss on pension plan, net of tax
 
(1,598
)
 
(1,620
)
Unrealized loss on hedging
 
(597
)
 
(1,071
)
Accumulated other comprehensive loss
 
$
(9,940
)
 
$
(3,902
)
Equity-based compensation expense
The following table reflects total equity-based compensation expense, which includes Relative TSR PSUs, Time-based RSUs, Special/Growth PSUs, Performance-based Restricted Stock and common stock, included in the Consolidated Statements of Operations for fiscal 2019, 2018, and 2017: 
 
 
Fiscal
(in thousands)
 
2019
 
2018
 
2017
Cost of sales
 
$
632

 
$
515

 
$
463

Selling, general and administrative
 
10,503

 
8,548

 
9,015

Research and development
 
3,197

 
2,622

 
2,244

Total equity-based compensation expense
 
$
14,332

 
$
11,685

 
$
11,722


The following table reflects equity-based compensation expense, by type of award, for fiscal 2019, 2018, and 2017:  
 
 
Fiscal
(in thousands)
 
2019
 
2018
 
2017
Relative TSR PSUs
 
$
4,220

 
$
3,583

 
$
3,480

Time-based RSUs
 
8,603

 
7,027

 
7,492

Special/Growth PSUs
 
675

 
295

 
—

Common stock
 
834

 
780

 
750

Total equity-based compensation expense
 
$
14,332

 
$
11,685

 
$
11,722
Employee market-based restricted stock activity
The following table reflects Relative TSR PSUs activity for fiscal 2019, 2018, and 2017:
 
Number of shares (in thousands)
 
Unrecognized compensation expense (in thousands)
 
Average remaining service period (in years)
 
Weighted average grant date fair value per share
Relative TSR PSUs outstanding as of October 1, 2016
484

 
$
2,924

 
1.0
 
 
Granted
388

 
 
 
 
 
$
13.47

Forfeited or expired
(3
)
 
 
 
 
 
 
Vested
(196
)
 
 
 
 
 
 
Relative TSR PSUs outstanding as of September 30, 2017
673

 
$
6,204

 
1.4
 
 
Granted
180

 
 
 
 
 
$
29.60

Forfeited or expired
(146
)
 
 
 
 
 
 
Vested
(168
)
 
 
 
 
 
 
Relative TSR PSUs outstanding as of September 29, 2018
539

 
$
4,629

 
1.1
 
 
Granted
166

 
 
 
 
 
$
23.15

Forfeited or expired
(27
)
 
 
 
 
 
 
Vested
(117
)
 
 
 
 
 
 
Relative TSR PSUs outstanding as of September 28, 2019
561

 
$
4,136

 
0.9
 
 
Schedule of Assumptions Used to Calculate Compensation Expense
The following table reflects the assumptions used to calculate compensation expense related to the Company’s Relative TSR PSUs issued during fiscal 2019, 2018, and 2017:
 
Fiscal
 
2019
 
2018
 
2017
Grant Price
$
20.87

 
$
19.65

 
$
12.51

Expected dividend yield(1)
2.30
%
 
0.12
%
 
N/A

Expected stock price volatility
34.20
%
 
31.71
%
 
30.39
%
Risk-free interest rate
2.92
%
 
1.68
%
 
0.96
%

(1) The expected dividend yield for fiscal 2018 includes the effect of 10,511 grants which were issued in the quarter ended September 29, 2018 with an assumed dividend yield of 1.91%

Employee time-based restricted stock activity
The following table reflects Time-based RSUs activity for fiscal 2019, 2018, and 2017:
 
Number of shares (in thousands)
 
Unrecognized compensation expense (in thousands)
 
Average remaining service period (in years)
 
Weighted average grant date fair value per share
Time-based RSUs outstanding as of October 1, 2016
1,015

 
$
6,440

 
1.5
 
 
Granted
715

 
 
 
 
 
$
13.32

Forfeited or expired
(50
)
 
 
 
 
 
 
Vested
(600
)
 
 
 
 
 
 
Time-based RSUs outstanding as of September 30, 2017
1,080

 
$
7,770

 
1.5
 
 
Granted
459

 
 
 
 
 
$
22.32

Forfeited or expired
(87
)
 
 
 
 
 
 
Vested
(542
)
 
 
 
 
 
 
Time-based RSUs outstanding as of September 29, 2018
910

 
$
9,038

 
1.4
 
 
Granted
521

 
 
 
 
 
$
20.95

Forfeited or expired
(42
)
 
 
 
 
 
 
Vested
(442
)
 
 
 
 
 
 
Time-based RSUs outstanding as of September 28, 2019
947

 
$
10,555

 
1.4
 
 
Schedule of Performance Based Restricted Stock Activity
 
Number of shares (in thousands)
 
Unrecognized compensation expense (in thousands)
 
Average remaining service period (in years)
 
Weighted average grant date fair value per share
Time-based RSUs outstanding as of October 1, 2016
1,015

 
$
6,440

 
1.5
 
 
Granted
715

 
 
 
 
 
$
13.32

Forfeited or expired
(50
)
 
 
 
 
 
 
Vested
(600
)
 
 
 
 
 
 
Time-based RSUs outstanding as of September 30, 2017
1,080

 
$
7,770

 
1.5
 
 
Granted
459

 
 
 
 
 
$
22.32

Forfeited or expired
(87
)
 
 
 
 
 
 
Vested
(542
)
 
 
 
 
 
 
Time-based RSUs outstanding as of September 29, 2018
910

 
$
9,038

 
1.4
 
 
Granted
521

 
 
 
 
 
$
20.95

Forfeited or expired
(42
)
 
 
 
 
 
 
Vested
(442
)
 
 
 
 
 
 
Time-based RSUs outstanding as of September 28, 2019
947

 
$
10,555

 
1.4
 
 
Schedule of Special/Growth Based Restricted Stock Activity
The following table reflects Special/Growth PSUs activity for fiscal 2019, 2018, and 2017:
 
Number of shares (in thousands)
 
Unrecognized compensation expense (in thousands)
 
Average remaining service period (in years)
 
Weighted average grant date fair value per share
Special/Growth PSUs outstanding as of September 30, 2017
—

 
 
 
 
 
 
Granted
60

 
 
 
 
 
$
22.57

Forfeited or expired
(14
)
 
 
 
 
 
 
Vested
—

 
 
 
 
 
 
Special/Growth PSUs outstanding as of September 29, 2018
46

 
$
702

 
2.1
 
 
Granted
$
55

 
 
 
 
 
$
21.07

Forfeited or expired
$
(4
)
 
 
 
 
 
 
Vested
$
—

 
 
 
 
 
 
Special/Growth PSUs outstanding as of September 28, 2019
$
97

 
$
1,128

 
1.6
 
 
Employee stock option activity
The following table reflects employee stock option activity for fiscal 2019, 2018, and 2017:
 
Number of shares (in thousands)
 
Weighted average exercise price
 
Average remaining contractual life (in years)
 
Aggregate intrinsic value (in thousands)
Options outstanding as of October 1, 2016
90

 
$
8.41

 
 
 
 
Exercised
(61
)
 
$
8.31

 
 
 
$
531

Forfeited or expired
(13
)
 
$
8.50

 
 
 
 
Options outstanding as of September 30, 2017
16

 
$
8.73

 
 
 
 
Exercised
(6
)
 
$
8.74

 
 
 
$
73

Forfeited or expired
(8
)
 
$
8.74

 
 
 
 
Options outstanding as of September 29, 2018
2

 
$
8.64

 
 
 
 
Exercised
(2
)
 
$
8.64

 
 
 
$
24

Forfeited or expired
—

 
$
—

 
 
 
 
Options outstanding as of September 28, 2019
—

 
$
—

 
—

 
$
—

Options vested and expected to vest as of September 28, 2019
—

 
$
—

 
—

 
$
—

Options exercisable as of September 28, 2019
—

 
$
—

 
—

 
 
In the money exercisable options as of September 28, 2019
—

 
 
 
 
 
$
—
Common stock issued to non-employee directors
The following table reflects shares of common stock issued to non-employee directors and the corresponding fair value for fiscal 2019, 2018, and 2017:
 
Fiscal
(in thousands)
2019
 
2018
 
2017
Number of common shares issued
37

 
33

 
45

Fair value based upon market price at time of issue
$
834

 
$
780

 
$
750
Non-employee director stock option activity
 
Fiscal
(in thousands)
2019
 
2018
 
2017
Number of common shares issued
37

 
33

 
45

Fair value based upon market price at time of issue
$
834

 
$
780

 
$
750
Defined benefits pension obligations and pension expenses
The following table reflects the Company's defined benefits pension obligations, mainly in Switzerland and Taiwan, as of September 28, 2019 and September 29, 2018:
 
 
As of
(in thousands)
September 28, 2019
 
September 29, 2018
Switzerland pension obligation
$
1,962

 
$
1,980

Taiwan pension obligation
1,191

 
1,256