Stock-Based Compensation

3 Months Ended

May 03, 2014

Stock-Based Compensation [Abstract]

Stock-Based Compensation

5.Stock-Based Compensation

The compensation costs that have been charged against income for the thirteen weeks ended May 3, 2014 and May 4, 2013 were as follows (in thousands):

	Thirteen Weeks Ended
	May 3, 2014		May 4, 2013
Stock-based compensation expense by type:
Stock options	$	412	$	309
Restricted stock unit awards, including performance-based		2,051		1,986
Employee stock purchases		37		42
Director deferred compensation		17		30
Total stock-based compensation expense		2,517		2,367
Income tax benefit recognized		933		876
Stock-based compensation expense, net of income tax	$	1,584	$	1,491

In the thirteen weeks ended May 3, 2014 and May 4, 2013, we granted the following equity awards:

	Thirteen Weeks Ended
	May 3, 2014		May 4, 2013
Stock options		16,996		17,623
Restricted stock unit awards		62,503		62,625
Performance-based restricted stock unit awards		25,300		36,700
Deferred stock units		10,006		6,897

Under the 2012 Non-Employee Director Equity Plan (2012 Plan), a total of 1,759 and 2,312 shares of our common stock were awarded during the thirteen weeks ended May 3, 2014 and May 4, 2013, respectively, as part of the annual equity award to directors in the first quarter.  In addition, under our employee stock purchase plan, our employees purchased 3,101 and 3,481 shares of our common stock during the thirteen weeks ended May 3, 2014 and May 4, 2013, respectively.

The weighted-average grant date fair value of stock options granted during the thirteen weeks ended May 3, 2014 was $24.22 per share. The weighted-average grant date fair value of shares of stock purchased through our employee stock purchase plan was $15.19, and the weighted-average price paid by our employees for shares of our common stock was $44.95 during the thirteen weeks ended May 3, 2014.

The weighted-average grant date fair value of stock options granted during the thirteen weeks ended May 4, 2013 was $17.52 per share. The weighted-average grant date fair value of shares of stock purchased through our employee stock purchase plan was $12.04 and the weighted-average price paid by our employees for shares of our common stock was $44.80 during the thirteen weeks ended May 4, 2013.

At May 3, 2014, the total compensation costs, related to nonvested restricted stock unit awards not yet recognized was $11.2 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 May 3, 2014.