Stock-Based Compensation (Tables)

12 Months Ended

Feb. 02, 2019

The compensation cost for these plans was as follows (in thousands):

	Fiscal Year Ended
	February 2, 2019 (52 weeks)		February 3, 2018 (53 weeks)		January 28, 2017 (52 weeks)
Stock-based compensation expense by type:
Stock options	$	185	$	224	$	384
Restricted stock units		3,932		3,536		4,010
Employee stock purchases		105		96		104
Director deferred compensation		94		24		94
Total stock-based compensation expense		4,316		3,880		4,592
Income tax benefit recognized		958		1,363		1,655
Stock-based compensation expense, net of income tax	$	3,358	$	2,517	$	2,937

Stock Option Activity

Activity for our option plans during Fiscal 2019 was as follows:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value ($000’s)
Options outstanding at February 3, 2018		288,150		$	36.15		5.12	$	324
Granted		19,994			22.55
Exercised		(27,625	)		17.46
Forfeited, cancelled or expired		(1,097	)		20.02
Options outstanding at February 2, 2019		279,422		$	37.08		4.91	$	55

Exercisable at February 2, 2019		279,422		$	37.08		4.91	$	55

Restricted Stock Unit Awards Activity

The following table summarizes the restricted stock unit awards activity under all our plans during Fiscal 2019:

	RSUs					PSUs					Totals
	Number of Awards			Weighted Average Grant-Date Fair Value		Number of Awards			Weighted Average Grant-Date Fair Value		Number of Awards			Weighted Average Grant-Date Fair Value
Restricted stock unit awards outstanding at February 3, 2018		313,611		$	40.10		132,370		$	37.55		445,981		$	39.34
Granted		174,007			22.55		44,700			22.55		218,707			22.55
PSU adjustment (1)		-			-		(13,725	)		29.30		(13,725	)		40.24
Vested		(60,658	)		51.47		(5,025	)		54.06		(65,683	)		51.67
Forfeited, cancelled or expired		(22,583	)		33.31		(14,650	)		50.48		(37,233	)		40.07
Restricted stock unit awards outstanding at February 2, 2019		404,377		$	31.22		143,670		$	31.78		548,047		$	31.37

(1) PSU adjustment represents the net RSUs awarded to our NEOs above and below their target grants resulting from the achievement of performance goals above or below the performance targets established at grant. One grant goal was achieved at 50% and another grant goal was forfeited for performance equity awards whose final achievement was based on Fiscal 2017 through Fiscal 2019 financial results; therefore, the adjustment was negative.

Employee Stock Purchases During The Period

The Company’s ESPP allows eligible employees the right to purchase shares of our common stock, subject to certain limitations, at 85% of the lesser of the market value at the end of each calendar quarter (purchase date) or the beginning of each calendar quarter. Our employee purchases of common stock and the average price per share through the ESPP were as follows:

Fiscal Year Ended	Shares Purchased		Average Price Per Share
February 2, 2019		26,077	$	15.96
February 3, 2018		23,555	$	16.36
January 28, 2017		14,890	$	28.48

Fair Value Weighted Average Assumptions

The assumptions used in the option pricing model were as follows:

	Fiscal Year Ended
	February 2, 2019	February 3, 2018	January 28, 2017
Weighted average fair value at date of grant	$4.75	$4.06	$6.98
Expected life (years)	0.25	0.25	0.25
Expected volatility	34.8% - 36.1%	30.2% - 36.2%	30.1% - 32.0%
Risk-free interest rate	3.26% - 5.21%	1.19% - 2.48%	0.37% - 0.68%
Dividend yield	None	None	None