v3.26.1
Share-based Compensation (Tables)
12 Months Ended
Jul. 03, 2026
Share-Based Payment Arrangement [Abstract]  
Nonvested share activity
The following is a summary of unvested restricted stock activities:
Unvested Restricted Stocks
Number of Shares
(In millions)
Weighted-Average Grant-Date Fair Value
Unvested at June 27, 2025
2.9 $79.96 
Granted1.1 $163.75 
Forfeited(0.1)$90.82 
Vested(1.6)$80.49 
Unvested at July 3, 2026
2.3 $118.76 
Performance-based Share Units
Number of Shares
(In millions)
Weighted-Average Grant-Date Fair Value
Unvested at June 27, 2025
0.8 $75.55 
Granted0.2 $166.98 
Forfeited— $67.73 
Vested(0.3)$70.60 
Unvested at July 3, 2026
0.7 $105.42 
Weighted-average assumptions used to determine the fair value
The fair value related to RSUs for fiscal years 2026, 2025 and 2024 was estimated using the following assumptions:
Fiscal Years
202620252024
RSUs
Expected term (in years)
1 - 2.2
1 - 2.2
1 - 2.2
Expected dividend rate
0.4 - 1.9%
2.0 - 3.3%
2.4 - 4.4%
Weighted-average expected dividend rate1.7 %2.6 %4.0 %
Weighted-average fair value$137.45$96.59$59.96
The fair value related to PSUs for fiscal years 2026, 2025 and 2024 were estimated using the following assumptions:
Fiscal Years
202620252024
PSUs subject to TSR/ROIC conditions
Expected term (in years)3.03.03.0
Volatility38 %37 %39 %
Weighted-average volatility38 %37 %39 %
Expected dividend rate1.8 %2.8 %4.4 %
Weighted-average expected dividend rate1.8 %2.8 %4.4 %
Risk-free interest rate3.7 %3.5 %4.6 %
Weighted-average fair value$105.42$75.55$70.97