Stock-Based Incentive Compensation Plans |
9 Months Ended |
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Sep. 29, 2018 | |
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
| Stock-Based Incentive Compensation Plans |
Stock-Based Incentive Compensation Plans
Stock Options
During the three and nine months ended September 29, 2018, the Company granted 1.0 million and 1.1 million shares of employee stock options, respectively, with weighted average grant date fair value per share of $8.08 and $7.62, respectively. During the three and nine months ended September 30, 2017, the Company granted 0.9 million shares of employee stock options with weighted average grant date fair value per share of $5.46.
Restricted Stock Units
During the three and nine months ended September 29, 2018, the Company granted 8.8 million and 12.0 million shares of restricted stock units, respectively, including 0.8 million and 1.0 million performance-based restricted stock units (PRSUs), respectively, with market conditions, with weighted average grant date fair value per share of $19.81 and $17.83, respectively. During the three and nine months ended September 30, 2017, the Company granted 8.3 million and 10.4 million shares of restricted stock units, respectively, including 0.8 million PRSUs with market conditions for both periods, with weighted average grant date fair value per share of $13.24 and $13.03, respectively.
Performance-based Restricted Stock Units with Market Conditions
From time to time, the Company grants restricted stock units with both a market condition and a service condition (market-based restricted stock units) to its senior executives. The number of shares earned are dependent upon achievement of the market conditions and vest at the end of the performance period, subject to the requisite service conditions.
During the three and nine months ended September 29, 2018, the Company granted 0.8 million and 1.0 million market-based restricted stock units, respectively, with weighted average grant date fair value per share of $23.97 and $21.67, respectively.
During the three and nine months ended September 30, 2017, the Company granted 0.8 million market-based restricted stock units with weighted average grant date fair value per share of $17.18.
Employee Stock Purchase Plan (ESPP)
During the nine months ended September 29, 2018, 2.2 million shares of common stock were purchased under the ESPP at a purchase price of $9.57, resulting in cash proceeds of $21 million. The fair value of stock purchase rights granted under the ESPP during the second quarter of 2018 was $3.42 per share.
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