Equity Awards

9 Months Ended

Nov. 02, 2024

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

9. Equity Awards

We maintain several equity incentive plans under which we may grant incentive stock options, non-qualified stock options, stock bonuses, restricted stock awards, restricted stock units and stock appreciation rights to employees (including officers), non-employee directors and consultants.

We account for stock-based compensation by recording the estimated fair value of stock-based awards granted as compensation expense over the vesting period, net of estimated forfeitures. Stock-based compensation expense is attributed to earnings using a straight-line method. We estimate forfeitures of stock-based awards based on historical experience and expected future activity.

The fair value of restricted stock awards and units is measured based on the closing price of our common stock on the date of grant. The fair value of stock option grants is estimated on the date of grant using the Black-Scholes option pricing model.

Total stock-based compensation expense is recognized on our condensed consolidated statements of income (loss) as follows (in thousands):


	Three Months Ended				Nine Months Ended
	November 2, 2024		October 28, 2023		November 2, 2024		October 28, 2023
Cost of goods sold	$	376	$	390	$	1,116	$	1,164
Selling, general and administrative expenses		1,343		1,242		3,994		3,944
Total stock-based compensation expense	$	1,719	$	1,632	$	5,110	$	5,108

At November 2, 2024, there was $11.0 million of total unrecognized compensation cost related to unvested stock options, restricted stock awards and restricted stock units. This cost has a weighted-average remaining recognition period of 1.2 years.

The following table summarizes restricted stock awards and restricted stock units, collectively defined as “restricted equity awards” (in thousands, except grant date weighted-average fair value):


	Restricted Stock Awards/Units	Grant Date Weighted- Average Fair Value	Intrinsic Value
Outstanding at February 3, 2024	495	$26.14
Granted	499	$13.83
Vested	(214)	$25.51
Forfeited	(32)	$20.78
Outstanding at November 2, 2024	748	$18.33	$14,642

We had 0.5 million stock options outstanding at November 2, 2024 with a grant date weighted average exercise price of $21.24 and 0.4 million stock options outstanding at February 3, 2024 with a grant date weighted average exercise price of $26.51.