Stock-Based Compensation (Tables)
|
12 Months Ended |
Mar. 27, 2026 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Schedule of Restricted Stock Units Activity |
The following table summarizes RSU activity for the fiscal year ended March 27, 2026:
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Number of
Shares |
|
|
Weighted-Average Grant-Date Fair Value |
|
|
Weighted-Average Remaining Contractual Life
(In years) |
|
|
Aggregate
Intrinsic
Value |
|
Outstanding - March 28, 2025 |
|
|
2,330,344 |
|
|
$ |
28.88 |
|
|
|
0.95 |
|
|
$ |
57,932 |
|
Granted |
|
|
2,080,783 |
|
|
|
27.29 |
|
|
|
|
|
|
|
Issued |
|
|
(1,109,483 |
) |
|
|
28.98 |
|
|
|
|
|
|
|
Forfeited |
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|
(209,201 |
) |
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|
28.09 |
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|
|
|
|
|
|
Outstanding - March 27, 2026 |
|
|
3,092,443 |
|
|
$ |
27.83 |
|
|
|
0.92 |
|
|
$ |
93,144 |
|
|
| Schedule of Performance Units Fair Value Assumptions |
The weighted-average fair value of the PSUs granted during the year was determined using the Monte Carlo simulation model incorporating the following weighted-average assumptions:
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Fiscal Year Ended |
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|
March 27,
2026 |
|
March 28,
2025 |
|
March 29,
2024 |
Performance term |
|
2.88 years |
|
2.79 years |
|
2.87 years |
Volatility |
|
51.13% |
|
43.46% |
|
47.70% |
Risk-free rate of return |
|
3.91% |
|
4.57% |
|
3.68% |
Dividend yield |
|
—% |
|
—% |
|
—% |
Weighted-average fair value per share |
|
$29.57 |
|
$31.83 |
|
$43.83 |
|
| Summary of Performance Stock Units Activity |
The following table summarizes PSU activity for the fiscal year ended March 27, 2026:
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|
Number of
Shares |
|
|
Weighted-Average Grant-Date Fair Value |
|
|
Weighted-Average Remaining Contractual Life
(In years) |
|
|
Aggregate
Intrinsic
Value |
|
Outstanding - March 28, 2025 |
|
|
2,145,781 |
|
|
$ |
24.86 |
|
|
|
1.80 |
|
|
$ |
53,344 |
|
Granted |
|
|
533,437 |
|
|
|
29.44 |
|
|
|
|
|
|
|
Cancelled |
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|
(153,650 |
) |
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|
24.32 |
|
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|
Issued |
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|
(231,653 |
) |
|
|
27.80 |
|
|
|
|
|
|
|
Forfeited |
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|
(958,266 |
) |
|
|
22.54 |
|
|
|
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|
|
|
Outstanding - March 27, 2026 |
|
|
1,335,649 |
|
|
$ |
27.90 |
|
|
|
1.48 |
|
|
$ |
40,230 |
|
|
| Schedule of ESPP Fair Value Assumptions |
The weighted-average fair value of the ESPP shares was determined using the Black-Scholes model incorporating the following weighted-average assumptions:
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Fiscal Year Ended |
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|
March 27,
2026 |
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|
March 28,
2025 |
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|
March 29,
2024 |
|
Expected performance term |
|
0.50 years |
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|
0.50 years |
|
|
0.50 years |
|
Volatility |
|
|
53.93 |
% |
|
|
45.44 |
% |
|
|
40.97 |
% |
Risk-free rate of return |
|
|
3.87 |
% |
|
|
4.70 |
% |
|
|
5.35 |
% |
Dividend yield |
|
|
— |
% |
|
|
— |
% |
|
|
— |
% |
Weighted-average fair value per share |
|
$ |
9.34 |
|
|
$ |
7.07 |
|
|
$ |
9.51 |
|
|
| Schedule of Stock-Based Compensation Expense |
The Company recorded stock-based compensation expense on its consolidated statements of operations as follows:
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Fiscal Year Ended |
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|
March 27,
2026 |
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|
March 28,
2025 |
|
|
March 29,
2024 |
|
RSUs |
|
$ |
41,309 |
|
|
$ |
32,144 |
|
|
$ |
28,162 |
|
PSUs |
|
|
5,120 |
|
|
|
8,561 |
|
|
|
12,825 |
|
ESPP |
|
|
1,384 |
|
|
|
1,099 |
|
|
|
1,438 |
|
Other |
|
|
97 |
|
|
|
64 |
|
|
|
32 |
|
Total |
|
$ |
47,910 |
|
|
$ |
41,868 |
|
|
$ |
42,457 |
|
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|
Fiscal Year Ended |
|
|
|
March 27,
2026 |
|
|
March 28,
2025 |
|
|
March 29,
2024 |
|
Cost of sales |
|
$ |
3,955 |
|
|
$ |
2,877 |
|
|
$ |
5,359 |
|
Research and development |
|
|
15,799 |
|
|
|
14,624 |
|
|
|
13,894 |
|
Selling, general and administrative |
|
|
28,156 |
|
|
|
24,367 |
|
|
|
23,204 |
|
Stock-based compensation expense |
|
|
47,910 |
|
|
|
41,868 |
|
|
|
42,457 |
|
Income tax benefit |
|
|
(5,074 |
) |
|
|
(4,049 |
) |
|
|
(4,379 |
) |
Total stock-based compensation expense, net of taxes |
|
$ |
42,836 |
|
|
$ |
37,819 |
|
|
$ |
38,078 |
|
|