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Stock-Based Compensation
9 Months Ended
Jun. 28, 2014
Share-based Compensation [Abstract]  
Stock-Based Compensation
STOCK-BASED COMPENSATION
The Company recognized $3.3 million and $9.2 million of compensation expense associated with stock-based awards for the three and nine months ended June 28, 2014, respectively, and $3.1 million and $9.0 million for the three and nine months ended June 29, 2013, respectively.
The Company uses the Black-Scholes valuation model to determine the fair value of stock options and stock-settled SARs. The Company uses the fair value at the date of grant to value restricted stock units ("RSUs") and unrestricted stock awards. The Company recognizes stock-based compensation expense over the stock-based awards’ vesting period.
In the fiscal first quarter of 2014, the Company modified its long-term incentive strategy to include grants of performance share units ("PSUs"). The Company uses the Monte Carlo valuation model to determine the fair value of PSUs at the date of grant. The PSUs are payable in shares and vest based on the relative total shareholder return of the Company's common stock as compared to the Russell 3000 Index during a three year performance period. The number of shares that may be issued pursuant to PSUs ranges from zero to 0.1 million. The Company recognizes stock-based compensation expense over the PSUs’ vesting period.