Share-Based Compensation

6 Months Ended

Aug. 01, 2015

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

4. Share-Based Compensation

Chinos Holdings, Inc. 2011 Equity Incentive Plan

During the first half of fiscal 2015, the Parent granted 1,035,000 options to certain members of management, including (i) 1,000,000 options with a weighted average exercise price of $0.10 that become exercisable over a period of five years and (ii) 35,000 options with a weighted average exercise price of $0.10 that only become exercisable when certain owners of the Parent receive a specified level of cash proceeds, as defined in the equity incentive plan, from the sale of their initial investment. The options have terms of up to ten years. The weighted average grant-date fair value of the time-based awards granted in the first half of fiscal 2015 was $0.05 per share. Expense associated with the options exercisable when certain owners of the Parent receive a specified level of cash proceeds will not be recognized until the occurrence of the event is probable.

A summary of share-based compensation recorded in the statements of operations and comprehensive income (loss) is as follows:

	For the Twenty-six Weeks Ended August 1, 2015				For the Twenty-six Weeks Ended August 2, 2014
Share-based compensation	$	1,690			$	3,036

A summary of shares available for grant as stock options or other share-based awards is as follows:

	Shares
Available for grant at January 31, 2015		13,623,070
Granted		(1,035,000	)
Forfeited and available for reissuance		8,317,500
Available for grant at August 1, 2015		20,905,570