Stock-Based Compensation

3 Months Ended

May 05, 2018

5. Stock-Based Compensation

The compensation costs that have been charged against income for the thirteen weeks ended May 5, 2018 and April 29, 2017 were as follows (in thousands):

	Thirteen Weeks Ended
	May 5, 2018		April 29, 2017
Stock-based compensation expense by type:
Stock options	$	160	$	173
Restricted stock unit awards, including performance-based		1,524		1,491
Employee stock purchases		29		33
Director deferred compensation		23		6
Total stock-based compensation expense		1,736		1,703
Income tax benefit recognized		393		614
Stock-based compensation expense, net of income tax	$	1,343	$	1,089

In the thirteen weeks ended May 5, 2018 and April 29, 2017, we granted the following equity awards:

	Thirteen Weeks Ended
	May 5, 2018		April 29, 2017
Stock options		19,994		20,372
Restricted stock unit awards		169,572		108,429
Performance-based restricted stock unit awards		44,700		54,900
Deferred stock units		979		201

At May 5, 2018, the total compensation costs related to nonvested restricted stock unit awards not yet recognized was $8.5 million and the weighted-average period over which such awards are expected to be recognized was 3.2 years. The total compensation costs related to nonvested stock options to be recognized was $25,000 and the period over which the award is expected to be recognized was 0.4 years at May 5, 2018.

Under the 2012 Non-Employee Director Equity Plan (2012 Plan), a total of 4,435 and 3,361 shares of our common stock were awarded during the thirteen weeks ended May 5, 2018 and April 29, 2017, respectively, as part of the annual equity award to directors in the first quarter. The weighted-average grant date fair value of stock options granted during the thirteen weeks ended May 5, 2018 and April 29, 2017 was $7.15 and $8.47 per share, respectively.

Our employee purchases of common stock, the average price per share and the weighted-average grant date fair value of shares purchased through our employee stock purchase plan were as follows:

	Thirteen Weeks Ended
	May 5, 2018		April 29, 2017
Shares purchased		6,554		5,464
Average price per share	$	17.34	$	25.08
Weighted average fair value at grant date	$	4.53	$	5.60