Stock-Based Compensation

3 Months Ended

Nov. 02, 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 thirty-nine weeks ended November 2, 2013 and October 27, 2012 were as follows (in thousands):

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	November 2, 2013		October 27, 2012		November 2, 2013		October 27, 2012
Stock-based compensation expense by type:
Stock options	$	17	$	32	$	340	$	774
Restricted stock unit awards, including performance-based		1,321		1,024		4,207		3,978
Employee stock purchases		26		16		84		51
Director deferred compensation		34		15		96		21
Total stock-based compensation expense		1,398		1,087		4,727		4,824
Income tax benefit recognized		516		403		1,745		1,797
Stock-based compensation expense, net of income tax	$	882	$	684	$	2,982	$	3,027

In the thirteen and thirty-nine weeks ended November 2, 2013 and October 27, 2012, we granted the following equity awards:

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	November 2, 2013		October 27, 2012		November 2, 2013		October 27, 2012
Stock options		810		1,530		19,251		39,772
Restricted stock unit awards		-		2,801		62,625		66,317
Performance-based restricted stock unit awards		-		-		36,700		38,100
Deferred stock units		601		252		8,076		361

Under the 2012 Non-Employee Director Equity Plan (2012 Plan), a total of 2,312 shares of our common stock were awarded during the thirty-nine weeks ended November 2, 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 1,994 and 6,860 shares of our common stock during the thirteen and thirty-nine weeks ended November 2, 2013, respectively and 1,769 and 6,183 shares of our common stock during the thirteen and thirty-nine weeks ended October 27, 2012, respectively.

The weighted-average grant date fair value of stock options granted during the thirteen and thirty-nine weeks ended November 2, 2013 was $21.51 and $17.68 per share, respectively.  The weighted-average grant date fair value of shares of stock purchased through our employee stock purchase plan was $12.94 and $12.34, respectively, and the weighted-average price paid by our employees for shares of our common stock was $47.40 and $46.03, respectively, during the thirteen and thirty-nine weeks ended November 2, 2013.

The weighted-average grant date fair value of stock options granted during the thirteen and thirty-nine weeks ended October 27, 2012 was $20.72 and $19.45 per share, respectively. The weighted-average grant date fair value of shares of stock purchased through our employee stock purchase plan was $14.51 and $12.28, respectively, and the weighted-average price paid by our employees for shares of our common stock was $49.05 and $43.15, respectively, during the thirteen and thirty-nine weeks ended October 27, 2012.

At November 2, 2013, the total compensation costs, related to nonvested restricted stock unit awards not yet recognized was $10.1 million and the weighted-average period over which such awards are expected to be recognized was 2.4 years.  There are no future compensation costs related to nonvested stock options to be recognized at November 2, 2013.