0001633978 2025-06-29 2026-06-27 0001633978 LITE:HurlstonMember 2025-06-29 2026-06-27 0001633978 LITE:HurlstonMember 2024-06-30 2025-06-28 0001633978 LITE:LoweMember 2024-06-30 2025-06-28 0001633978 LITE:LoweMember 2023-07-02 2024-06-29 0001633978 LITE:LoweMember 2022-07-03 2023-07-01 0001633978 LITE:LoweMember 2021-07-04 2022-07-02 0001633978 LITE:LoweMember 2025-06-29 2026-06-27 0001633978 2021-07-04 2026-06-27 0001633978 2024-06-30 2025-06-28 0001633978 2021-07-04 2025-06-28 0001633978 LITE:HurlstonMember 2023-07-02 2024-06-29 0001633978 2023-07-02 2024-06-29 0001633978 2021-07-04 2024-06-03 0001633978 LITE:HurlstonMember 2022-07-03 2023-07-01 0001633978 2022-07-03 2023-07-01 0001633978 2021-07-04 2023-07-01 0001633978 LITE:HurlstonMember 2021-07-04 2022-07-02 0001633978 2021-07-04 2022-07-02 0001633978 LITE:SubtractGrantDateFairValueOfStockAwardsBMember ecd:PeoMember LITE:HurlstonMember 2025-06-29 2026-06-27 0001633978 LITE:AddFairValueAtFiscalYearEndOfOutstandingAndUnvestedOptionsAwardsAndStockAwardsGrantedInFiscalYearIMember ecd:PeoMember LITE:HurlstonMember 2025-06-29 2026-06-27 0001633978 LITE:AdjustForChangeInFairValueOfOutstandingAndUnvestedOptionAwardsAndStockAwardsGrantedInPriorFiscalYearsIIMember ecd:PeoMember LITE:HurlstonMember 2025-06-29 2026-06-27 0001633978 LITE:AddFairValueAtVestingOfOptionAwardsAndStockAwardsGrantedInFiscalYearThatVestedDuringFiscalYearIIIMember ecd:PeoMember LITE:HurlstonMember 2025-06-29 2026-06-27 0001633978 LITE:AdjustForChangeInFairValueOfOutstandingOptionAwardsAndStockAwardsGrantedInPriorFiscalYearsForWhichApplicableVestingConditionsWereSatisfiedDuringFiscalYearIVMember ecd:PeoMember LITE:HurlstonMember 2025-06-29 2026-06-27 0001633978 LITE:SubtractFairValueOfPriorFiscalYearEndOfOptionAwardsAndStockAwardsGrantedInPriorFiscalYearsThatFailedToMeetApplicableVestingConditionsDuringFiscalYearVMember ecd:PeoMember LITE:HurlstonMember 2025-06-29 2026-06-27 0001633978 LITE:SubtractGrantDateFairValueOfStockAwardsBMember ecd:NonPeoNeoMember 2025-06-29 2026-06-27 0001633978 LITE:AddFairValueAtFiscalYearEndOfOutstandingAndUnvestedOptionsAwardsAndStockAwardsGrantedInFiscalYearIMember ecd:NonPeoNeoMember 2025-06-29 2026-06-27 0001633978 LITE:AdjustForChangeInFairValueOfOutstandingAndUnvestedOptionAwardsAndStockAwardsGrantedInPriorFiscalYearsIIMember ecd:NonPeoNeoMember 2025-06-29 2026-06-27 0001633978 LITE:AddFairValueAtVestingOfOptionAwardsAndStockAwardsGrantedInFiscalYearThatVestedDuringFiscalYearIIIMember ecd:NonPeoNeoMember 2025-06-29 2026-06-27 0001633978 LITE:AdjustForChangeInFairValueOfOutstandingOptionAwardsAndStockAwardsGrantedInPriorFiscalYearsForWhichApplicableVestingConditionsWereSatisfiedDuringFiscalYearIVMember ecd:NonPeoNeoMember 2025-06-29 2026-06-27 0001633978 LITE:SubtractFairValueOfPriorFiscalYearEndOfOptionAwardsAndStockAwardsGrantedInPriorFiscalYearsThatFailedToMeetApplicableVestingConditionsDuringFiscalYearVMember ecd:NonPeoNeoMember 2025-06-29 2026-06-27 0001633978 1 2025-06-29 2026-06-27 0001633978 2 2025-06-29 2026-06-27 0001633978 3 2025-06-29 2026-06-27 0001633978 4 2025-06-29 2026-06-27 iso4217:USD false 0001633978 DEF 14A Lumentum Holdings Inc. true We do not grant equity awards on a predetermined schedule, but typically approve equity awards at regularly scheduled meetings of our Compensation Committee during open trading windows. false false <div id="xdx_896_eecd--PvpTableTextBlock_znLxDdd8efHe"></div> <h2 style="font: 20pt Arial, Helvetica, Sans-Serif; margin: 0">Pay Versus Performance</h2> The following table shows the total compensation for our NEOs for the past five fiscal years as set forth in the Summary Compensation Table, the “compensation actually paid” to our PEO (Michael Hurlston, Chief Executive Officer since 2025), former PEO (Alan Lowe, Chief Executive Officer from 2015 to 2025) and on an average basis, our other NEOs (in each case, as determined under SEC rules), our TSR, our prior peer group TSR (NASDAQ 100 Technology Sector Index), our net income, and revenue. <table cellpadding="0" cellspacing="0" id="xdx_305_z2sDAcP46dh8" style="font: 8pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Pay vs Performance Disclosure"> <tr style="vertical-align: bottom; line-height: 1pt"> <td style="white-space: nowrap; padding-left: 3pt; text-align: left; color: rgb(9,113,206); font-weight: bold"> </td><td style="white-space: nowrap; color: rgb(9,113,206); font-weight: bold"> </td> <td id="xdx_487_eecd--PeoTotalCompAmt_d0_hecd--IndividualAxis__custom--LoweMember_zESpCookrOO9" style="white-space: nowrap; color: rgb(9,113,206); font-weight: bold; text-align: right"> </td><td style="white-space: nowrap; text-align: right; color: rgb(9,113,206); font-weight: bold"> </td> <td id="xdx_485_eecd--PeoActuallyPaidCompAmt_d0_hecd--IndividualAxis__custom--LoweMember_zeDIVRDABSMc" style="white-space: nowrap; color: rgb(9,113,206); font-weight: bold; text-align: right"> </td><td style="white-space: nowrap; text-align: right; color: rgb(9,113,206); font-weight: bold"> </td> <td id="xdx_480_eecd--PeoTotalCompAmt_d0_hecd--IndividualAxis__custom--HurlstonMember_zAFVFyLF6mo5" style="white-space: nowrap; color: rgb(9,113,206); font-weight: bold; text-align: right"> </td><td style="white-space: nowrap; text-align: right; color: rgb(9,113,206); font-weight: bold"> </td> <td id="xdx_48A_eecd--PeoActuallyPaidCompAmt_d0_hecd--IndividualAxis__custom--HurlstonMember_zVBy0P1oCe0i" style="white-space: nowrap; color: rgb(9,113,206); font-weight: bold; text-align: right"> </td><td style="white-space: nowrap; text-align: right; color: rgb(9,113,206); font-weight: bold"> </td> <td id="xdx_48F_eecd--NonPeoNeoAvgTotalCompAmt_zH9xMbtbZ8q2" style="white-space: nowrap; color: rgb(9,113,206); font-weight: bold; text-align: right"> </td><td style="white-space: nowrap; text-align: right; color: rgb(9,113,206); font-weight: bold"> </td> <td id="xdx_483_eecd--NonPeoNeoAvgCompActuallyPaidAmt_zyq7ktTxl1lf" style="white-space: nowrap; color: rgb(9,113,206); font-weight: bold; text-align: right"> </td><td style="white-space: nowrap; text-align: right; color: rgb(9,113,206); font-weight: bold"> </td> <td style="white-space: nowrap; color: rgb(9,113,206); font-weight: bold; text-align: right"> </td><td style="white-space: nowrap; text-align: right; color: rgb(9,113,206); font-weight: bold"> </td> <td style="white-space: nowrap; color: rgb(9,113,206); font-weight: bold; text-align: right"> </td><td style="white-space: nowrap; text-align: right; color: rgb(9,113,206); font-weight: bold"> </td> <td id="xdx_483_eus-gaap--NetIncomeLoss_pdn6_zHp4ZkoRC6Ce" style="white-space: nowrap; color: rgb(9,113,206); font-weight: bold; text-align: right"> </td><td style="white-space: nowrap; text-align: right; color: rgb(9,113,206); font-weight: bold"> </td> <td id="xdx_486_eecd--CoSelectedMeasureAmt_pdn6_uUSD_zxfLDmWJQq1g" style="white-space: nowrap; padding-right: 3pt; color: rgb(9,113,206); font-weight: bold; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(9,113,206) 2px solid; color: rgb(9,113,206); font-weight: bold; text-align: center"></td> <td style="border-bottom: rgb(9,113,206) 2px solid; color: rgb(9,113,206); font-weight: bold; text-align: center"></td> <td colspan="3" style="border-bottom: rgb(9,113,206) 2px solid; color: rgb(9,113,206); font-weight: bold; text-align: center">Alan Lowe</td><td style="color: rgb(9,113,206); font-weight: bold"> </td> <td colspan="3" style="border-bottom: rgb(9,113,206) 2px solid; color: rgb(9,113,206); font-weight: bold; text-align: center">Michael Hurlston</td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td style="font-size: 9pt"> </td><td style="font-size: 9pt"> </td> <td style="padding-right: 3pt; font-size: 9pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; padding-left: 3pt; text-align: left; color: rgb(9,113,206); font-weight: bold">Fiscal Year</td><td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; color: rgb(9,113,206); font-weight: bold"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; color: rgb(9,113,206); font-weight: bold; text-align: right">Summary Compensation Table Total for PEO(1)</td><td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; text-align: right; color: rgb(9,113,206); font-weight: bold"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; color: rgb(9,113,206); font-weight: bold; text-align: right">Compensation Actually Paid to PEO(2)</td><td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; text-align: right; color: rgb(9,113,206); font-weight: bold"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; color: rgb(9,113,206); font-weight: bold; text-align: right">Summary Compensation Table Total for PEO(1)</td><td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; text-align: right; color: rgb(9,113,206); font-weight: bold"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; color: rgb(9,113,206); font-weight: bold; text-align: right">Compensation Actually Paid to PEO(2)</td><td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; text-align: right; color: rgb(9,113,206); font-weight: bold"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; color: rgb(9,113,206); font-weight: bold; text-align: right">Average Summary Compensation Table Total for non-PEO NEOs(3)</td><td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; text-align: right; color: rgb(9,113,206); font-weight: bold"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; color: rgb(9,113,206); font-weight: bold; text-align: right">Average Compensation Actually Paid to non-PEO NEOs(2)</td><td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; text-align: right; color: rgb(9,113,206); font-weight: bold"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; color: rgb(9,113,206); font-weight: bold; text-align: right">Total Shareholder Return(4)</td><td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; text-align: right; color: rgb(9,113,206); font-weight: bold"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; color: rgb(9,113,206); font-weight: bold; text-align: right">Peer Group Total Shareholder Return(4)</td><td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; text-align: right; color: rgb(9,113,206); font-weight: bold"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; color: rgb(9,113,206); font-weight: bold; text-align: right">Net Income ($M)(5)</td><td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; text-align: right; color: rgb(9,113,206); font-weight: bold"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; padding-right: 3pt; color: rgb(9,113,206); font-weight: bold; text-align: right">Revenue(6)</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(148,149,153) 1px solid; padding-left: 3pt; text-align: right">(a)</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">(b)</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right"> (c)</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">(d)</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">(e)</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">(f)</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">(g)</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">(h)</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">(i)</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">(j)</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; padding-right: 3pt; text-align: right">(k)</td></tr> <tr id="xdx_417_20250629__20260627_zWAmYT7Ae53g" style="vertical-align: bottom"> <td style="border-bottom: rgb(148,149,153) 1px solid; padding-left: 3pt; width: 1%; text-align: right">2026</td><td style="border-bottom: rgb(148,149,153) 1px solid; width: 2%"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; width: 8%; text-align: right">–</td><td style="border-bottom: rgb(148,149,153) 1px solid; width: 2%"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; width: 8%; text-align: right">–</td><td style="border-bottom: rgb(148,149,153) 1px solid; width: 2%"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; width: 8%; text-align: right">$15,392,731</td><td style="border-bottom: rgb(148,149,153) 1px solid; width: 2%"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; width: 8%; text-align: right">$474,253,106</td><td style="border-bottom: rgb(148,149,153) 1px solid; width: 2%"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; width: 8%; text-align: right">$7,552,226</td><td style="border-bottom: rgb(148,149,153) 1px solid; width: 2%"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; width: 8%; text-align: right">$158,186,747</td><td style="border-bottom: rgb(148,149,153) 1px solid; width: 2%"> </td> <td id="xdx_985_eecd--TotalShareholderRtnAmt_pp2d_c20210704__20260627_zmRoIMV1V2x" style="border-bottom: rgb(148,149,153) 1px solid; width: 8%; text-align: right">$978.77</td><td style="border-bottom: rgb(148,149,153) 1px solid; width: 2%"> </td> <td id="xdx_98A_eecd--PeerGroupTotalShareholderRtnAmt_pp2d_c20210704__20260627_zIMKD7T7bChl" style="border-bottom: rgb(148,149,153) 1px solid; width: 8%; text-align: right">$199.10</td><td style="border-bottom: rgb(148,149,153) 1px solid; width: 2%"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; width: 8%; text-align: right">($6,935.10)</td><td style="border-bottom: rgb(148,149,153) 1px solid; width: 2%"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; padding-right: 3pt; width: 7%; text-align: right">$3,014.0</td></tr> <tr id="xdx_412_20240630__20250628_zaRHmaccT1Qc" style="vertical-align: bottom"> <td style="border-bottom: rgb(148,149,153) 1px solid; padding-left: 3pt; text-align: right">2025</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$46,407,285</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$46,661,132</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$27,670,076</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$34,152,996</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$4,614,066</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$11,993,836</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td id="xdx_984_eecd--TotalShareholderRtnAmt_pp2d_c20210704__20250628_zvEn14bkZ8F9" style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$113.51</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td id="xdx_98B_eecd--PeerGroupTotalShareholderRtnAmt_pp2d_c20210704__20250628_zmJzibS1ifs6" style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$133.13</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$25.90</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; padding-right: 3pt; text-align: right">$1,645.0</td></tr> <tr id="xdx_41F_20230702__20240629_z3eBsRdzJ018" style="vertical-align: bottom"> <td style="border-bottom: rgb(148,149,153) 1px solid; padding-left: 3pt; text-align: right">2024</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$12,077,066</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$9,284,053</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">–</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">–</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$3,864,547</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$3,201,388</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td id="xdx_98C_eecd--TotalShareholderRtnAmt_pp2d_c20210704__20240603_zcs9x1SdXHp9" style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$61.00</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td id="xdx_98F_eecd--PeerGroupTotalShareholderRtnAmt_pp2d_c20210704__20240603_zc3vq8ELe44a" style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$124.38</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">($546.50)</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; padding-right: 3pt; text-align: right">$1,359.2</td></tr> <tr id="xdx_412_20220703__20230701_zJGVQM3RDppa" style="vertical-align: bottom"> <td style="border-bottom: rgb(148,149,153) 1px solid; padding-left: 3pt; text-align: right">2023</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$13,905,732</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$6,157,896</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">–</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">–</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$4,514,349</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$2,014,899</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td id="xdx_987_eecd--TotalShareholderRtnAmt_pp2d_c20210704__20230701_zWarmsc5Um56" style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$67.96</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td id="xdx_98E_eecd--PeerGroupTotalShareholderRtnAmt_pp2d_c20210704__20230701_zzXhB2mqvdq5" style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">$92.77</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; text-align: right">($131.60)</td><td style="border-bottom: rgb(148,149,153) 1px solid"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; padding-right: 3pt; text-align: right">$1,767.0</td></tr> <tr id="xdx_417_20210704__20220702_zfHnavaKvYE7" style="vertical-align: bottom"> <td style="border-bottom: rgb(9,113,206) 2px solid; padding-left: 3pt; text-align: right">2022</td><td style="border-bottom: rgb(9,113,206) 2px solid"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; text-align: right">$10,793,744</td><td style="border-bottom: rgb(9,113,206) 2px solid"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; text-align: right">$10,940,691</td><td style="border-bottom: rgb(9,113,206) 2px solid"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; text-align: right">–</td><td style="border-bottom: rgb(9,113,206) 2px solid"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; text-align: right">–</td><td style="border-bottom: rgb(9,113,206) 2px solid"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; text-align: right">$3,837,309</td><td style="border-bottom: rgb(9,113,206) 2px solid"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; text-align: right">$3,910,681</td><td style="border-bottom: rgb(9,113,206) 2px solid"> </td> <td id="xdx_98E_eecd--TotalShareholderRtnAmt_pp2d_c20210704__20220702_zcCttluyON7d" style="border-bottom: rgb(9,113,206) 2px solid; text-align: right">$93.23</td><td style="border-bottom: rgb(9,113,206) 2px solid"> </td> <td id="xdx_98A_eecd--PeerGroupTotalShareholderRtnAmt_pp2d_c20210704__20220702_zPNzu2zthXek" style="border-bottom: rgb(9,113,206) 2px solid; text-align: right">$72.07</td><td style="border-bottom: rgb(9,113,206) 2px solid"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; text-align: right">$198.90</td><td style="border-bottom: rgb(9,113,206) 2px solid"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; padding-right: 3pt; text-align: right">$1,712.6</td></tr> </table> 0 0 15392731 474253106 7552226 158186747 978.77 199.10

-6935100000

3014000000.0 46407285 46661132 27670076 34152996 4614066 11993836 113.51 133.13

25900000

1645000000.0 12077066 9284053 0 0 3864547 3201388 61.00 124.38

-546500000

1359200000 13905732 6157896 0 0 4514349 2014899 67.96 92.77

-131600000

1767000000.0 10793744 10940691 0 0 3837309 3910681 93.23 72.07

198900000

1712600000 <table cellpadding="0" cellspacing="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 18pt">(1)</td> <td style="padding-top: 3pt">The dollar amounts reported in columns (b) and (d) are the amounts of total compensation reported for PEO (Hurlston) and former PEO (Lowe) for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to “Executive Compensation – Executive Compensation Tables – Summary Compensation Table” above.</td></tr> </table> Hurlston Hurlston Lowe Lowe Lowe Lowe <table cellpadding="0" cellspacing="0" id="xdx_304_zVWNNWlz3lpc" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Pay vs Performance Disclosure"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 18pt">(2)</td> <td style="padding-top: 3pt">The dollar amounts reported in columns (c), (e), and (g) represent the amount of “compensation actually paid” (otherwise known as CAP), as computed in accordance with SEC rules. “Compensation actually paid” does not necessarily represent cash and/or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules. We do not have a defined benefit plan so no adjustment for pension benefits is included in the table below. Similarly, no adjustment is made for dividends as dividends are factored into the fair value of the award. The following table details these adjustments:</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 18pt"> </td> <td> </td></tr> <tr style="vertical-align: top"> <td> </td> <td>The following table details these adjustments for each fiscal year for our PEO and for our non-PEO NEOs on average:</td></tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_30F_zZZxskHPURn9" style="font: 9pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Pay vs Performance Disclosure"> <tr> <td style="width: 18pt"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: bottom; text-align: center">Fiscal Year</td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: bottom; width: 5%"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: bottom; width: 7%; text-align: right">Summary Compensation Table Total (a)</td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: bottom; width: 11%; text-align: right">Subtract Grant Date Fair Value of Stock Awards (b)</td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: bottom; width: 10%; text-align: right">Add Fair Value at Fiscal Year-end of Outstanding and Unvested Options Awards and Stock Awards Granted in Fiscal Year (i)</td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: bottom; width: 10%; text-align: right">Adjust for Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years (ii)</td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: bottom; width: 6%; text-align: right">Add Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year that Vested During Fiscal Year (iii)</td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: bottom; width: 10%; text-align: right">Adjust for Change in Fair Value of Outstanding Option Awards and Stock Awards Granted in Prior Fiscal Years for Which Applicable Vesting Conditions Were Satisfied During Fiscal Year (iv)</td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: bottom; width: 9%; text-align: right">Subtract Fair Value of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years that Failed to Meet Applicable Vesting Conditions During Fiscal Year (v)</td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; padding-right: 3pt; white-space: nowrap; vertical-align: bottom; width: 10%; text-align: right">CAP (c)</td></tr> <tr> <td> </td> <td style="vertical-align: bottom; text-align: center">2026</td> <td style="vertical-align: top; text-align: right"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: bottom; text-align: right">PEO Michael Hurlston</td> <td style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_980_eecd--PeoTotalCompAmt_c20250629__20260627__ecd--IndividualAxis__custom--HurlstonMember_zPAF8u9JWrf4" style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: bottom; text-align: right">$15,392,731</td> <td style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_98D_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--SubtractGrantDateFairValueOfStockAwardsBMember__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--IndividualAxis__custom--HurlstonMember_zUJBRLWUz6xi" style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: bottom; text-align: right">($12,291,577)</td> <td style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_988_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--AddFairValueAtFiscalYearEndOfOutstandingAndUnvestedOptionsAwardsAndStockAwardsGrantedInFiscalYearIMember__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--IndividualAxis__custom--HurlstonMember_zPpAiKSMMe7g" style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: bottom; text-align: right">$136,629,103</td> <td style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_986_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--AdjustForChangeInFairValueOfOutstandingAndUnvestedOptionAwardsAndStockAwardsGrantedInPriorFiscalYearsIIMember__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--IndividualAxis__custom--HurlstonMember_zB5QIm6NWEU2" style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: bottom; text-align: right">$308,574,169</td> <td style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_989_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--AddFairValueAtVestingOfOptionAwardsAndStockAwardsGrantedInFiscalYearThatVestedDuringFiscalYearIIIMember__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--IndividualAxis__custom--HurlstonMember_ztk4rl8XCgc4" style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: bottom; text-align: right">$0</td> <td style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_980_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--AdjustForChangeInFairValueOfOutstandingOptionAwardsAndStockAwardsGrantedInPriorFiscalYearsForWhichApplicableVestingConditionsWereSatisfiedDuringFiscalYearIVMember__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--IndividualAxis__custom--HurlstonMember_zjquZTYuXNek" style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: bottom; text-align: right">$25,948,680</td> <td style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_984_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--SubtractFairValueOfPriorFiscalYearEndOfOptionAwardsAndStockAwardsGrantedInPriorFiscalYearsThatFailedToMeetApplicableVestingConditionsDuringFiscalYearVMember__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--IndividualAxis__custom--HurlstonMember_z45SCJCEGLxb" style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: bottom; text-align: right">$0</td> <td style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_986_eecd--PeoActuallyPaidCompAmt_c20250629__20260627__ecd--IndividualAxis__custom--HurlstonMember_zshmE0SulaEl" style="border-bottom: rgb(148,149,153) 1px solid; padding-right: 3pt; vertical-align: bottom; text-align: right">$474,253,106</td></tr> <tr> <td> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: bottom"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: top; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: bottom; text-align: right">Non-PEO NEOs</td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_98D_eecd--NonPeoNeoAvgTotalCompAmt_c20250629__20260627_zuJLSgONIRsf" style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: bottom; text-align: right">$7,552,226</td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_986_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--SubtractGrantDateFairValueOfStockAwardsBMember__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zLw5Jbr4lNyh" style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: bottom; text-align: right">($6,114,924)</td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_987_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--AddFairValueAtFiscalYearEndOfOutstandingAndUnvestedOptionsAwardsAndStockAwardsGrantedInFiscalYearIMember__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zyfR1Tgkqcad" style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: bottom; text-align: right">$53,958,828</td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_989_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--AdjustForChangeInFairValueOfOutstandingAndUnvestedOptionAwardsAndStockAwardsGrantedInPriorFiscalYearsIIMember__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_z00M05PkAl63" style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: bottom; text-align: right">$95,851,291</td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_98E_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--AddFairValueAtVestingOfOptionAwardsAndStockAwardsGrantedInFiscalYearThatVestedDuringFiscalYearIIIMember__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_z596uFOXhRN7" style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: bottom; text-align: right">$0</td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_981_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--AdjustForChangeInFairValueOfOutstandingOptionAwardsAndStockAwardsGrantedInPriorFiscalYearsForWhichApplicableVestingConditionsWereSatisfiedDuringFiscalYearIVMember__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zfv1jNuEKOXg" style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: bottom; text-align: right">$7,847,978</td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_983_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--SubtractFairValueOfPriorFiscalYearEndOfOptionAwardsAndStockAwardsGrantedInPriorFiscalYearsThatFailedToMeetApplicableVestingConditionsDuringFiscalYearVMember__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zvnlEKAadyW8" style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: bottom; text-align: right">($908,653)</td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_981_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20250629__20260627_zH99KtNf0hE3" style="border-bottom: rgb(9,113,206) 2px solid; padding-right: 3pt; vertical-align: bottom; text-align: right">$158,186,747</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 18pt">(a)</td> <td style="padding-top: 3pt">The dollar amounts reported in the Summary Compensation Table for the applicable year.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 18pt">(b)</td> <td style="padding-top: 3pt">The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year. (i-v) The recalculated value of equity awards for each applicable year includes the addition (or subtraction, as applicable) of the following: </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 9pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 36pt"> </td> <td style="padding-top: 3pt; width: 18pt">(i)</td> <td style="padding-top: 3pt">Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year; </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 9pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 36pt"> </td> <td style="padding-top: 3pt; width: 18pt">(ii)</td> <td style="padding-top: 3pt">Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years from the end of the prior Fiscal Year to the end of the current Fiscal Year;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 9pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 36pt"> </td> <td style="padding-top: 3pt; width: 18pt">(iii)</td> <td style="padding-top: 3pt">Change in Fair Value as of Vesting Date (compared to prior Fiscal Year End) of Option Awards and Stock Awards Granted in the Current Year and Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year; (iv) Fair Value at Vesting Date of Option Awards and Stock Awards Granted in Fiscal Year; </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 9pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 36pt"> </td> <td style="padding-top: 3pt; width: 18pt">(v)</td> <td style="padding-top: 3pt">Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year. </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 18pt">(c)</td> <td style="padding-top: 3pt">“Compensation Actually Paid” does not necessarily represent cash and/or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules.</td></tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_304_zVWNNWlz3lpc" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Pay vs Performance Disclosure"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 18pt">(2)</td> <td style="padding-top: 3pt">The dollar amounts reported in columns (c), (e), and (g) represent the amount of “compensation actually paid” (otherwise known as CAP), as computed in accordance with SEC rules. “Compensation actually paid” does not necessarily represent cash and/or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules. We do not have a defined benefit plan so no adjustment for pension benefits is included in the table below. Similarly, no adjustment is made for dividends as dividends are factored into the fair value of the award. The following table details these adjustments:</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 18pt"> </td> <td> </td></tr> <tr style="vertical-align: top"> <td> </td> <td>The following table details these adjustments for each fiscal year for our PEO and for our non-PEO NEOs on average:</td></tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_30F_zZZxskHPURn9" style="font: 9pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Pay vs Performance Disclosure"> <tr> <td style="width: 18pt"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: bottom; text-align: center">Fiscal Year</td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: bottom; width: 5%"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: bottom; width: 7%; text-align: right">Summary Compensation Table Total (a)</td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: bottom; width: 11%; text-align: right">Subtract Grant Date Fair Value of Stock Awards (b)</td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: bottom; width: 10%; text-align: right">Add Fair Value at Fiscal Year-end of Outstanding and Unvested Options Awards and Stock Awards Granted in Fiscal Year (i)</td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: bottom; width: 10%; text-align: right">Adjust for Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years (ii)</td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: bottom; width: 6%; text-align: right">Add Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year that Vested During Fiscal Year (iii)</td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: bottom; width: 10%; text-align: right">Adjust for Change in Fair Value of Outstanding Option Awards and Stock Awards Granted in Prior Fiscal Years for Which Applicable Vesting Conditions Were Satisfied During Fiscal Year (iv)</td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: bottom; width: 9%; text-align: right">Subtract Fair Value of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years that Failed to Meet Applicable Vesting Conditions During Fiscal Year (v)</td> <td style="border-bottom: rgb(9,113,206) 2px solid; white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; padding-right: 3pt; white-space: nowrap; vertical-align: bottom; width: 10%; text-align: right">CAP (c)</td></tr> <tr> <td> </td> <td style="vertical-align: bottom; text-align: center">2026</td> <td style="vertical-align: top; text-align: right"> </td> <td style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: bottom; text-align: right">PEO Michael Hurlston</td> <td style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_980_eecd--PeoTotalCompAmt_c20250629__20260627__ecd--IndividualAxis__custom--HurlstonMember_zPAF8u9JWrf4" style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: bottom; text-align: right">$15,392,731</td> <td style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_98D_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--SubtractGrantDateFairValueOfStockAwardsBMember__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--IndividualAxis__custom--HurlstonMember_zUJBRLWUz6xi" style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: bottom; text-align: right">($12,291,577)</td> <td style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_988_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--AddFairValueAtFiscalYearEndOfOutstandingAndUnvestedOptionsAwardsAndStockAwardsGrantedInFiscalYearIMember__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--IndividualAxis__custom--HurlstonMember_zPpAiKSMMe7g" style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: bottom; text-align: right">$136,629,103</td> <td style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_986_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--AdjustForChangeInFairValueOfOutstandingAndUnvestedOptionAwardsAndStockAwardsGrantedInPriorFiscalYearsIIMember__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--IndividualAxis__custom--HurlstonMember_zB5QIm6NWEU2" style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: bottom; text-align: right">$308,574,169</td> <td style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_989_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--AddFairValueAtVestingOfOptionAwardsAndStockAwardsGrantedInFiscalYearThatVestedDuringFiscalYearIIIMember__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--IndividualAxis__custom--HurlstonMember_ztk4rl8XCgc4" style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: bottom; text-align: right">$0</td> <td style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_980_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--AdjustForChangeInFairValueOfOutstandingOptionAwardsAndStockAwardsGrantedInPriorFiscalYearsForWhichApplicableVestingConditionsWereSatisfiedDuringFiscalYearIVMember__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--IndividualAxis__custom--HurlstonMember_zjquZTYuXNek" style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: bottom; text-align: right">$25,948,680</td> <td style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_984_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--SubtractFairValueOfPriorFiscalYearEndOfOptionAwardsAndStockAwardsGrantedInPriorFiscalYearsThatFailedToMeetApplicableVestingConditionsDuringFiscalYearVMember__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--IndividualAxis__custom--HurlstonMember_z45SCJCEGLxb" style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: bottom; text-align: right">$0</td> <td style="border-bottom: rgb(148,149,153) 1px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_986_eecd--PeoActuallyPaidCompAmt_c20250629__20260627__ecd--IndividualAxis__custom--HurlstonMember_zshmE0SulaEl" style="border-bottom: rgb(148,149,153) 1px solid; padding-right: 3pt; vertical-align: bottom; text-align: right">$474,253,106</td></tr> <tr> <td> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: bottom"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: top; text-align: right"> </td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: bottom; text-align: right">Non-PEO NEOs</td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_98D_eecd--NonPeoNeoAvgTotalCompAmt_c20250629__20260627_zuJLSgONIRsf" style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: bottom; text-align: right">$7,552,226</td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_986_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--SubtractGrantDateFairValueOfStockAwardsBMember__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zLw5Jbr4lNyh" style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: bottom; text-align: right">($6,114,924)</td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_987_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--AddFairValueAtFiscalYearEndOfOutstandingAndUnvestedOptionsAwardsAndStockAwardsGrantedInFiscalYearIMember__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zyfR1Tgkqcad" style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: bottom; text-align: right">$53,958,828</td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_989_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--AdjustForChangeInFairValueOfOutstandingAndUnvestedOptionAwardsAndStockAwardsGrantedInPriorFiscalYearsIIMember__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_z00M05PkAl63" style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: bottom; text-align: right">$95,851,291</td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_98E_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--AddFairValueAtVestingOfOptionAwardsAndStockAwardsGrantedInFiscalYearThatVestedDuringFiscalYearIIIMember__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_z596uFOXhRN7" style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: bottom; text-align: right">$0</td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_981_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--AdjustForChangeInFairValueOfOutstandingOptionAwardsAndStockAwardsGrantedInPriorFiscalYearsForWhichApplicableVestingConditionsWereSatisfiedDuringFiscalYearIVMember__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zfv1jNuEKOXg" style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: bottom; text-align: right">$7,847,978</td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_983_eecd--AdjToCompAmt_c20250629__20260627__ecd--AdjToCompAxis__custom--SubtractFairValueOfPriorFiscalYearEndOfOptionAwardsAndStockAwardsGrantedInPriorFiscalYearsThatFailedToMeetApplicableVestingConditionsDuringFiscalYearVMember__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zvnlEKAadyW8" style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: bottom; text-align: right">($908,653)</td> <td style="border-bottom: rgb(9,113,206) 2px solid; vertical-align: top; text-align: right"> </td> <td id="xdx_981_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20250629__20260627_zH99KtNf0hE3" style="border-bottom: rgb(9,113,206) 2px solid; padding-right: 3pt; vertical-align: bottom; text-align: right">$158,186,747</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 18pt">(a)</td> <td style="padding-top: 3pt">The dollar amounts reported in the Summary Compensation Table for the applicable year.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 18pt">(b)</td> <td style="padding-top: 3pt">The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year. (i-v) The recalculated value of equity awards for each applicable year includes the addition (or subtraction, as applicable) of the following: </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 9pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 36pt"> </td> <td style="padding-top: 3pt; width: 18pt">(i)</td> <td style="padding-top: 3pt">Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year; </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 9pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 36pt"> </td> <td style="padding-top: 3pt; width: 18pt">(ii)</td> <td style="padding-top: 3pt">Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years from the end of the prior Fiscal Year to the end of the current Fiscal Year;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 9pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 36pt"> </td> <td style="padding-top: 3pt; width: 18pt">(iii)</td> <td style="padding-top: 3pt">Change in Fair Value as of Vesting Date (compared to prior Fiscal Year End) of Option Awards and Stock Awards Granted in the Current Year and Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year; (iv) Fair Value at Vesting Date of Option Awards and Stock Awards Granted in Fiscal Year; </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 9pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 36pt"> </td> <td style="padding-top: 3pt; width: 18pt">(v)</td> <td style="padding-top: 3pt">Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year. </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 18pt">(c)</td> <td style="padding-top: 3pt">“Compensation Actually Paid” does not necessarily represent cash and/or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules.</td></tr> </table> 15392731 -12291577 136629103 308574169 0 25948680 0 474253106 7552226 -6114924 53958828 95851291 0 7847978 -908653 158186747 <table cellpadding="0" cellspacing="0" id="xdx_30B_ziBj09kMhUwh" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Pay vs Performance Disclosure"> <tr style="vertical-align: top"> <td style="width: 18pt">(4)</td> <td>TSR determined in Column (h) is based on the value of an initial fixed investment of $100 in LITE as of July 4, 2021. TSR determined in Column (i) is based on the value of an initial fixed investment of $100 in the NASDAQ 100 Technology Sector Index as of July 4, 2021.</td></tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_30C_zkq2FL1KRlyi" style="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Pay vs Performance Disclosure"> <tr style="vertical-align: top"> <td style="padding-top: 3pt">(6)</td> <td style="padding-top: 3pt">Lumentum selected Revenue as its Company Selected Measure, which is the most important financial measure that links Company performance with Compensation Actually Paid. Dollar amounts in Column (k) are LITE’s GAAP revenue for each fiscal year (in millions).</td></tr> </table> Revenue <img alt="" src="llite2026x63x1.jpg" style="width: 700px"/> <img alt="" src="llite2026x63x2.jpg" style="width: 700px"/> <table border="0" cellpadding="0" cellspacing="0" style="font: 9pt Arial, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: top"> <td style="text-align: left; width: 10pt">*</td> <td style="text-align: left">The GAAP net loss for fiscal year 2026 was driven by the equalization of certain amounts of our convertible notes in the fourth quarter of fiscal year 2026, which contributed to a one-time, non-cash loss on debt extinguishment of $7.8 billion.</td></tr> </table> <img alt="" src="llite2026x63x3.jpg" style="width: 700px"/> <h3 style="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0; color: rgb(148,149,153)">Performance Measures</h3> A mix of performance measures are used in order to align executive pay with Company performance. As required by SEC rules, the performance measures identified as the most important for NEOs’ 2026 compensation decisions are listed in the table below, each of which is described in more detail in the CD&A. <table cellpadding="0" cellspacing="0" style="font: 9pt Arial, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(9,113,206) 2px solid; padding-left: 3pt; width: 100%">Most Important Performance Measures Driving Compensation Actually Paid</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(148,149,153) 1px solid; padding-left: 3pt">Revenue</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(148,149,153) 1px solid; padding-left: 3pt">Gross Margin</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(148,149,153) 1px solid; padding-left: 3pt">Operating Income</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: rgb(9,113,206) 2px solid; padding-left: 3pt">Earnings per Share</td></tr> </table> Revenue Gross Margin Operating Income Earnings per Share