v3.24.1.1.u2
Stock-based Compensation (Tables)
 12 Months Ended
Apr. 27, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Options, Weighted Average Assumptions
The fair value of stock options granted was estimated as of the grant date using a Black-Scholes option-pricing model with the following assumptions:
Fiscal Year Ended
April 27,
2024		April 29,
2023		April 30,
2022
Expected dividend yield3.1 %3.5 %3.4 %
Expected stock price volatility39.3 %38.8 %38.1 %
Risk-free interest rate4.1 %3.2 %1.1 %
Expected life (years)6.06.06.0
Weighted average grant date fair value per share$10.69$8.82$7.97
Summary of Stock Options
The following is a summary of stock option activity:
Number
of
Options		Weighted-
Average
Exercise
Price		Aggregate Intrinsic
Value
Balance as of April 29, 20232,020 $30.52 
Granted228 33.26 
Exercised(233)22.97 
Canceled(18)38.05 
Balance as of April 27, 20241,997 $31.65 $2,824 
Vested or expected to vest as of April 27, 20241,995 $31.65 $2,824 
Exercisable as of April 27, 20241,548 $31.65 $2,824 
Summary of Non-Vested Restricted Stock Awards and Performance Unit Awards
The following is a summary of restricted stock award activity:
Restricted Stock Awards
SharesWeighted-
Average
Grant Date
Fair Value
Outstanding at April 29, 202337 $27.23 
Granted40 29.19 
Vested(37)27.23 
Forfeitures— — 
Outstanding at April 27, 202440 $29.19 
The following is a summary of restricted stock unit activity:
Restricted Stock Units
SharesWeighted-
Average
Grant Date
Fair Value
Outstanding at April 29, 2023792 $29.12 
Granted438 33.18 
Vested(394)27.86 
Forfeitures(42)31.32 
Outstanding at April 27, 2024794 $31.85 
The following is a summary of performance unit award activity at target:
Performance Unit Awards
SharesWeighted-
Average
Grant Date
Fair Value
Outstanding at April 29, 2023203 $30.14 
Granted164 33.84 
Vested(76)29.88 
Forfeitures and cancellations— — 
Outstanding at April 27, 2024291 $32.30 
Summary of Weighted-Average Assumptions Under ESPP and CAP
We estimate the grant date fair value of shares purchased under our ESPP using the Black-Scholes option pricing valuation model with the following assumptions:
Fiscal Year Ended
April 27,
2024		April 29,
2023		April 30,
2022
Expected dividend yield3.6 %3.7 %3.6 %
Expected stock price volatility38.2 %31.5 %28.6 %
Risk-free interest rate5.1 %4.7 %0.3 %
Expected life (years)0.60.60.6
Weighted average grant date fair value per share$7.55$6.89$6.79