Share-Based Compensation

9 Months Ended

Nov. 02, 2013


Note 10	Share-Based Compensation

The Company recognized share-based compensation expense of $1.1 million and $1.5 million during the thirteen weeks and $4.1 million and $4.8 million during the thirty-nine weeks ended November 2, 2013 and October 27, 2012, respectively.

The Company issued 54,369 shares of common stock during the thirteen weeks ended November 2, 2013 for restricted stock grants, stock options exercised, and directors’ fees. The Company issued 698,580 shares of common stock during the thirty-nine weeks ended November 2, 2013 for restricted stock grants, stock performance awards, stock options exercised, and directors’ fees. During the thirteen and thirty-nine weeks ended November 2, 2013, the Company cancelled restricted stock awards of 65,750 and 150,250 shares, respectively, as a result of forfeitures.

During the third quarter of 2013, the Company granted 12,300 restricted shares to certain employees with a weighted-average grant date fair value of $22.90. The restricted shares vest in four years and share-based compensation expense will be recognized on a straight-line basis over the four-year period.

The Company also granted 1,023 restricted stock units for dividend equivalents on previously granted restricted stock units to non-employee directors with a weighted-average grant date fair value of $23.57 during the third quarter of 2013. All restricted stock units granted during the third quarter of 2013 vested immediately as of the payment date for the dividend.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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