

Note 8	Share-Based Compensation

The Company recognized share-based compensation expense of $2.3 million and $2.0 million during the thirteen weeks and $4.3 million and $3.7 million during the twenty-six weeks ended July 30, 2016 and August 1, 2015, respectively. In addition to share-based compensation expense, the Company recognized cash-based expense related to performance share units and cash awards granted under the performance share plans of $0.9 million and $2.5 million during the thirteen weeks and $1.7 million and $4.1 million during the twenty-six weeks ended July 30, 2016 and August 1, 2015, respectively.

The Company issued 20,829 and 20,163 shares of common stock during the thirteen weeks and 408,434 and 364,842 during the twenty-six weeks ended July 30, 2016 and August 1, 2015, respectively, for stock-based awards, stock options exercised and directors' fees.

The following table summarizes restricted stock activity for the periods ended July 30, 2016 and August 1, 2015:



	Thirteen Weeks Ended July 30, 2016					Thirteen Weeks Ended August 1, 2015
			Weighted- Average Grant Date Fair Value					Weighted- Average Grant Date Fair Value
	Total Number of Restricted Shares					Total Number of Restricted Shares
	Total Number of Restricted Shares					Total Number of Restricted Shares
April 30, 2016	1,150,749		$	25.38	May 2, 2015	1,462,416		$	18.57
Granted	13,800		24.85		Granted	8,000		31.67
Forfeited	(19,250	)	26.59		Forfeited	(15,000	)	16.04
Vested	(6,000	)	11.72		Vested	(59,800	)	11.61
July 30, 2016	1,139,299		$	25.42	August 1, 2015	1,395,616		$	18.97



	Twenty-six Weeks Ended July 30, 2016					Twenty-six Weeks Ended August 1, 2015
			Weighted- Average Grant Date Fair Value					Weighted- Average Grant Date Fair Value
	Total Number of Restricted Shares					Total Number of Restricted Shares
	Total Number of Restricted Shares					Total Number of Restricted Shares
January 30, 2016	1,262,449		$	19.55	January 31, 2015	1,562,470		$	15.61
Granted	350,600		26.57		Granted	293,421		30.11
Forfeited	(48,500	)	22.94		Forfeited	(49,850	)	19.51
Vested	(425,250	)	9.22		Vested	(410,425	)	14.15
July 30, 2016	1,139,299		$	25.42	August 1, 2015	1,395,616		$	18.97

Of the 13,800 and 8,000 restricted shares granted during the thirteen weeks ended July 30, 2016 and August 1, 2015, respectively, all of the shares have a vesting term of four years. Of the 350,600 restricted shares granted during the twenty-six weeks ended July 30, 2016, all of the shares have a vesting term of four years. Of the 293,421 restricted shares granted during the twenty-six weeks ended August 1, 2015, 280,921 have a vesting term of four years and 12,500 of the shares have a vesting term of five years. Share-based compensation expense is recognized on a straight-line basis over the respective vesting periods.

During the thirteen weeks ended July 30, 2016 and August 1, 2015, the Company granted no performance share awards. During the twenty-six weeks ended July 30, 2016 and August 1, 2015, the Company granted performance share awards for a targeted 159,000 and 177,921 shares, respectively, with a weighted-average grant date fair value of $26.64 and $30.12, respectively. Vesting of performance-based awards is dependent upon the financial performance of the Company and the attainment of certain financial goals during the three-year period following the grant. At the end of the vesting period, the employee will have earned an amount of shares or units between 0% and 200% of the targeted award, depending on the achievement of the specified financial goals for the service period. Compensation expense is recognized based on the fair value of the award and the anticipated number of shares or units to be awarded in accordance with the vesting schedule of the units over the three-year service period. The performance share units are settled in cash and their fair value is based on the unadjusted quoted market price for the Company’s common stock on each measurement date.

The following table summarizes stock option activity for the periods ended July 30, 2016 and August 1, 2015:



	Thirteen Weeks Ended July 30, 2016					Thirteen Weeks Ended August 1, 2015
			Weighted- Average Grant Date Fair Value					Weighted- Average Grant Date Fair Value
	Total Number of Stock Options					Total Number of Stock Options
	Total Number of Stock Options					Total Number of Stock Options
April 30, 2016	229,105		$	8.99	May 2, 2015	336,886		$	9.01
Granted	—		—		Granted	—		—
Exercised	(6,315	)	9.28		Exercised	(12,000	)	7.83
Forfeited	—		—		Forfeited	(1,500	)	15.94
Expired	—		—		Expired	—		—
July 30, 2016	222,790		$	8.98	August 1, 2015	323,386		$	9.02



	Twenty-six Weeks Ended July 30, 2016					Twenty-six Weeks Ended August 1, 2015
			Weighted- Average Grant Date Fair Value					Weighted- Average Grant Date Fair Value
	Total Number of Stock Options					Total Number of Stock Options
	Total Number of Stock Options					Total Number of Stock Options
January 30, 2016	301,295		$	8.95	January 31, 2015	416,803		$	8.42
Granted	—		—		Granted	16,667		12.81
Exercised	(56,381	)	7.41		Exercised	(70,633	)	7.13
Forfeited	(7,499	)	15.94		Forfeited	(3,000	)	15.94
Expired	(14,625	)	10.75		Expired	(36,451	)	6.95
July 30, 2016	222,790		$	8.98	August 1, 2015	323,386		$	9.02

Of the 16,667 stock options granted during the twenty-six weeks ended August 1, 2015, 8,333 have a vesting period of four years and 8,334 have a vesting period of five years.

The Company also granted 53,310 and 36,740 restricted stock units to non-employee directors during the thirteen weeks ended July 30, 2016 and August 1, 2015, respectively, with weighted-average grant date fair values of $21.62 and $31.68, respectively. The Company granted 54,163 and 37,444 restricted stock units to non-employee directors during the twenty-six weeks ended July 30, 2016 and August 1, 2015, respectively, with weighted-average grant date fair values of $21.72 and $31.69, respectively. All restricted stock units for dividend equivalents vested immediately and compensation expense was fully recognized during the thirteen and twenty-six weeks ended July 30, 2016 and August 1, 2015.