v3.22.4
EMPLOYEE STOCK PLANS (Tables)
 3 Months Ended
Dec. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs The table below summarizes the effect of recording share-based compensation expense and the option component of the employee stock purchase plan shares:
Three Months Ended
(In millions)December 30, 2022December 31, 2021
Cost of revenues$0.4 $0.4 
Research and development0.8 0.8 
Selling, general and administrative
2.1 2.2 
Total share-based compensation expense$3.3 $3.4 
Schedule of Share-based Compensation, Stock Options, Activity The following table summarizes the activity for stock options under Varex’s employee incentive plans for the Company's employees:
(In thousands, except per share amounts and the remaining term)OptionsPrice Range
Weighted Average Exercise Price
Weighted Average Remaining Term (in years)
Aggregate Intrinsic Value(1)
Outstanding at September 30, 20222,902 
$13.61 - $37.60
$28.97 4.5$1,361.4 
Granted385 
$22.13
22.13 
Canceled, expired or forfeited(196)
$25.06 - $37.10
31.44 
Outstanding at December 30, 20223,091 
$13.61 - $37.60
$27.96 5.2$1,209.5 
Exercisable at December 30, 20222,070 
$13.61 - $37.60
$29.52 3.4$672.3 
(1) The aggregate intrinsic value represents the total pre-tax intrinsic value, which is computed based on the difference between the exercise price and the closing price of Varex common stock of $20.30 as of December 30, 2022, the last trading date of the Company's first quarter, and which represents the amount that would have been received by the option holders had all option holders exercised their options and sold the shares received upon exercise as of that date.
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity The following table summarizes the activity for restricted stock units, restricted stock awards and deferred stock units under Varex’s 2020 Omnibus Stock Plan and 2017 Omnibus Stock Plan:
(In thousands, except per share amounts)Number of SharesWeighted Average Grant-Date Fair Value
Outstanding at September 30, 20221,045 $24.35 
Granted492 20.12 
Vested(3)23.70 
Canceled or expired(28)25.50 
Outstanding at December 30, 20221,506 $22.95