Stock-Based Compensation

3 Months Ended

Aug. 03, 2013

Stock-Based Compensation [Abstract]

Stock-Based Compensation

5.Stock-Based Compensation

The compensation costs that have been charged against income for the thirteen and twenty-six weeks ended August 3, 2013 and July 28, 2012 were as follows (in thousands):

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	August 3, 2013		July 28, 2012		August 3, 2013		July 28, 2012
Stock-based compensation expense by type:
Stock options	$	14	$	33	$	323	$	742
Restricted stock unit awards, including performance-based		899		1,065		2,885		2,954
Employee stock purchase		17		17		59		35
Director deferred compensation		32		6		62		6
Total stock-based compensation expense		962		1,121		3,329		3,737
Income tax benefit recognized		353		416		1,229		1,393
Stock-based compensation expense, net of income tax	$	609	$	705	$	2,100	$	2,344

In the thirteen and twenty-six weeks ended August 3, 2013 and July 28, 2012, we granted the following equity awards:

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	August 3, 2013		July 28,  2012		August 3, 2013		July 28, 2012
Stock options		818		1,576		18,441		38,242
Restricted stock unit awards		--		--		62,625		63,516
Performance-based restricted stock unit awards		--		--		36,700		38,100
Deferred stock units		578		109		7,475		109

Under the 2012 Non-Employee Director Equity Plan (2012 Plan), a total of 2,312 shares of our common stock were awarded during the twenty-six weeks ended August 3, 2013 as part of the annual equity award to directors in the first quarter.  Prior to the adoption of the 2012 Plan, the annual equity award to directors was solely in stock options.  In addition, under our employee stock purchase plan, our employees purchased 1,385 and 4,866 shares of our common stock during the thirteen and twenty-six weeks ended August 3, 2013, respectively and 1,317 and 4,414 shares of our common stock during the thirteen and twenty-six weeks ended July 28, 2012, respectively.

The weighted-average grant date fair value of stock options granted during the thirteen and twenty-six weeks ended August 3, 2013 was $17.40 and $17.52 per share, respectively.  The weighted-average grant date fair value of shares of stock purchased through our employee stock purchase plan was $12.23 and $12.09, respectively, and the weighted-average price paid by our employees for shares of our common stock was $47.18 and $44.80, respectively, during the thirteen and twenty-six weeks ended August 3, 2013.

The weighted-average grant date fair value of stock options granted during the thirteen and twenty-six weeks ended July 28, 2012 was $21.24 and $19.40 per share, respectively.  The weighted-average grant date fair value of shares of stock purchased through our employee stock purchase plan was $12.75 and $7.78, respectively, and the weighted-average price paid by our employees for shares of our common stock was $46.37 and $40.78, respectively, during the thirteen and twenty-six weeks ended July 28, 2012.

At August 3, 2013, the total compensation costs, related to nonvested restricted stock unit awards not yet recognized was $11.4 million and the weighted-average period over which such awards are expected to be recognized was 2.8 years.  There are no future compensation costs related to nonvested stock options to be recognized at August 3, 2013.