Expired (in dollars per share)

[Table of Contents](#ic0f1e00f8fa04a87b8ba424679040b3d_7)  
A reconciliation of the number of options outstanding and exercisable as of October 31, 2021, is: 

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Shares(in thousands) |  | Weighted-AverageExercise Price |  | Weighted-AverageRemaining ContractualTerm (Years) |  | AggregateIntrinsic Value(in thousands) |
| Stock Options Outstanding at October 25, 2020 |  | 21,073  |  |  | $ | 30.39  |  |  |  |  |  |
| Granted |  | 1,277  |  |  | 47.45  |  |  |  |  |  |
| Exercised |  | (3,050) |  |  | 17.61  |  |  |  |  |  |
| Forfeited  |  | (277) |  |  | 37.23  |  |  |  |  |  |
| Expired |  | (1) |  |  | 36.25  |  |  |  |  |  |
| Stock Options Outstanding at October 31, 2021 |  | 19,022  |  |  | $ | 33.49  |  |  | 4.9 |  | $ | 182,432  |  |
| Stock Options Exercisable at October 31, 2021 |  | 13,047  |  |  | $ | 29.91  |  |  | 3.8 |  | $ | 164,766  |  |

  
The weighted-average grant date fair value of stock options granted and the total intrinsic value of options exercised during each of the past three fiscal years, are: 

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   |  | Fiscal Year Ended |
|   |  | October 31, |  | October 25, |  | October 27, |
| (in thousands, except per share amounts) |  | 2021 |  | 2020 |  | 2019 |
| Weighted-average Grant Date Fair Value |  | $ | 7.52  |  |  | $ | 7.71  |  |  | $ | 9.24  |  |
| Intrinsic Value of Exercised Options |  | 94,108  |  |  | 182,821  |  |  | 138,282  |  |

 The fair value of each option award is calculated on the date of grant using the Black-Scholes valuation model utilizing the following weighted-average assumptions:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   |  | Fiscal Year Ended |
|   |  | October 31, |  | October 25, |  | October 27, |
|   |  | 2021 |  | 2020 |  | 2019 |
| Risk-free Interest Rate |  | 1.0  | % |  | 1.7  | % |  | 2.8  | % |
| Dividend Yield |  | 2.1  | % |  | 2.0  | % |  | 1.9  | % |
| Stock Price Volatility |  | 20.0  | % |  | 19.0  | % |  | 19.0  | % |
| Expected Option Life |  | 7.4 years |  | 7.5 years |  | 8.0 years |

 As part of the annual valuation process, the Company reassesses the appropriateness of the inputs used in the valuation models. The Company establishes the risk-free interest rate using U.S. Treasury yields as of the grant date. The dividend yield is based on the dividend rate approved by the Company’s Board of Directors and the stock price on the grant date. The expected volatility assumption is based primarily on historical volatility. The expected life assumption is based on an analysis of past exercise behavior by option holders. In performing the valuations for option grants, the Company has not stratified option holders as exercise behavior has historically been consistent across all employees. Restricted Stock Units: Restricted stock units are valued equal to the market price of the common stock on the date of the grant and generally vest after three years. These awards accumulate dividend equivalents, which are provided as additional units and are subject to the same vesting requirements as the underlying grant. A reconciliation of the restricted stock units as of October 31, 2021, is:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Shares(in thousands) |  | Weighted-AverageGrant DateFair Value | Weighted-AverageRemaining ContractualTerm (Years) | AggregateIntrinsic Value(in thousands) |
| Restricted Stock Units Outstanding at October 25, 2020 |  | 188  |  |  | $ | 45.91  |  |  |  |
| Granted |  | 225  |  |  | 47.52  |  |  |  |
| Dividend Equivalents |  | 6  |  |  | 46.62  |  |  |  |
| Vested |  | (31) |  |  | 46.56  |  |  |  |
| Forfeited |  | (3) |  |  | 46.52  |  |  |  |
| Restricted Stock Units Outstanding at October 31, 2021 |  | 385  |  |  | $ | 46.81  |  | 1.7 | $ | 16,277  |  |

  
The weighted-average grant date fair value of restricted stock units granted and the total fair value of restricted stock units granted during each of the past three fiscal years, are:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   |  | Fiscal Year Ended |
|   |  | October 31, |  | October 25, |  | October 27, |
| (in thousands, except per share amounts) |  | 2021 |  | 2020 |  | 2019 |
| Weighted-average Grant Date Fair Value |  | $ | 47.52  |  |  | $ | 45.88  |  |  | $ | —  |  |
| Fair Value of Restricted Stock Units Granted |  | 10,699  |  |  | 9,383  |  |  | —  |  |
| Fair Value of Restricted Stock Units Vested |  | $ | 1,460  |  |  | $ | 839  |  |  | $ | —  |  |

  
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