The Company currently has two equity-based compensation plans, the 2025 Long-Term Incentive Plan (the “2025 LTIP”) and the 2025 Management Incentive Plan (the “2025 MIP”), which each provide for the grant of options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance stock units, performance units, other awards, or a combination thereof. At June 28, 2026, there were 4.1 million shares authorized for issuance under the 2025 LTIP and 3.1 million shares remaining for future grants. At June 28, 2026, there were 8.1 million shares authorized for issuance under the 2025 MIP and 5.3 million shares remaining for future grants.

Prior to the Effective Date, the Company had two equity-based compensation plans, the 2023 Long-Term Incentive Compensation Plan (the "2023 LTIP") and the 2025 Inducement Award Plan (the "Inducement Plan"), from which stock-based compensation awards can be granted to employees and, in the case of the 2023 LTIP, directors. The terms of the Inducement Plan are substantially similar to the 2023 LTIP but with such other terms and conditions intended to comply with Section 303A.08 of the New York Stock Exchange Company Listed Manual. The 2023 LTIP and the Inducement Plan provided for awards in the form of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units and other awards.

The Company also previously had an Employee Stock Purchase Plan ("ESPP") that provided employees with the opportunity to purchase common stock at a discount. In April 2025, the Compensation Committee approved the termination of the ESPP, which was effective immediately. The ESPP limited employee contributions to 15% of each employee’s compensation (as defined in the plan) and allowed employees to purchase shares at a 15% discount, subject to IRS limitations. The ESPP provided for a twelve-month participation period, divided into two equal six-month purchase periods, and also provided a look-back feature. At the end of each six-month period in April and October, participants could purchase the Company’s common stock through the ESPP at a 15% discount to the fair market value of the common stock on the first day of the twelve-month participation period or the purchase date, whichever is lower. The ESPP also provided an automatic reset feature to start participants on a new twelve-month participation period if the fair market value of common stock declines during the first six-month purchase period.


	Number of RSUs	Weighted Average Grant-Date Fair Value
Nonvested at June 29, 2025 (Predecessor)	4,627	$32.41
Granted	—	—
Vested	(1,216)	38.17
Forfeited	(219)	54.91
Nonvested at September 28, 2025 (Predecessor)	3,192	27.25
Forfeited	(3,192)	27.25
Nonvested at September 29, 2025 (Predecessor)	—	$—

Nonvested at September 30, 2025 (Successor)	—	$—
Granted	4,108	24.51
Vested	(110)	22.91
Forfeited	(232)	23.33
Nonvested at June 28, 2026 (Successor)	3,766	$24.63

The aggregate fair value of awards vested in the period from June 30, 2025 to September 29, 2025 and from September 30, 2025 to June 28, 2026 and the fiscal years ended June 29, 2025 and June 30, 2024, based on the market price of the Company's common stock on the vesting date, was $1.9 million $4.2 million, $13.1 million and $55.2 million, respectively.


	Successor	Predecessor
(in millions of U.S. Dollars)	Period from September 30, 2025 to June 28, 2026	Period from June 30, 2025 to September 29, 2025	Fiscal Year Ended June 29, 2025	Fiscal Year Ended June 30, 2024
Cost of revenue, net	$10.7	$7.8	$36.9	$28.5
Research and development	2.7	2.2	11.6	11.4
Sales, general and administrative	13.7	3.6	24.8	45.0
Total stock-based compensation expense	$27.1	$13.6	$73.3	$84.9

The Black-Scholes and Monte Carlo option pricing models require the input of highly subjective assumptions. The assumptions listed below represent management's best estimates, but these estimates involve inherent uncertainties and the application of management judgment. As a result, if other assumptions had been used, recorded share-based compensation expense could have been materially different from that depicted above.


	Predecessor
	Fiscal Year Ended June 29, 2025	Fiscal Year Ended June 30, 2024
Risk-free interest rate	4.28 - 5.21%	5.44 - 5.54%
Expected life, in years	0.5 - 1.0	0.5 - 1.0
Volatility	73.7 - 100.2%	73.5 - 74.4%
Dividend yield	—	—


	Successor		Predecessor
	Period from September 30, 2025 to June 28, 2026		Period from June 30, 2025 to September 29, 2025	Fiscal Year Ended June 29, 2025	Fiscal Year Ended June 30, 2024
Risk-free interest rate	3.55	%	0.00%	3.92%	4.52%
Expected life, in years	2.56		0.0	3.0	3.0
Expected volatility	52.4	%	0.0%	67.4%	65.9%
Average correlation coefficient of peer companies	0.39		0	0.41	0.44
Dividend yield	—		—	—	—

The expected life represents the period the awards are expected to be outstanding. In determining the appropriate expected life of its stock options, the Company segregates its grantees into categories based upon employee levels that are expected to be indicative of similar option-related behavior. The expected useful lives for each of these categories are then estimated giving consideration to (1) the weighted average vesting periods, (2) the contractual lives of the stock options, (3) the relationship between the exercise price and the fair market value of the Company’s common stock, (4) expected employee turnover, (5) the expected future volatility of the Company’s common stock, and (6) past and expected exercise behavior, among other factors.

The Company estimates expected volatility for the ESPP awards, giving consideration to the expected life of the respective award, the Company’s current expected growth rate, implied volatility in traded options for its common stock, and the historical volatility of its common stock. For purposes of estimating volatility for use in the Monte Carlo model for the market-based awards, the Company utilizes historical volatilities of the Company and the members of the defined peer group.

The Company estimates the expected dividend yield by giving consideration to its current dividend policies as well as those anticipated in the future considering the Company’s current plans and projections. The Company has not historically issued dividends.