Share-Based Compensation (Tables)

12 Months Ended

Jan. 30, 2016

The following table summarizes our stock option activity for fiscal year 2015:



	Stock Options	Grant Date Weighted Average Exercise Price	Weighted Average Remaining Contractual Life (in Years)	Aggregate Intrinsic Value(1)
			(in years)	($ in thousands)
Outstanding at January 31, 2015	2,880,040	$13.03
Granted	585,000	$6.91
Exercised	(336,140)	$9.21
Forfeited	(381,000)	$12.97
Expired	(936,575)	$14.69
Outstanding at January 30, 2016	1,811,325	$10.93	7.5	$218
Vested and expected to vest at January 30, 2016	1,723,520	$11.06	7.4	$194
Exercisable at January 30, 2016	693,450	$12.87	5.5	$2


(1)	Intrinsic value for stock options is defined as the difference between the market price of the our Class A common stock on the last business day of the fiscal year and the weighted average exercise price of in-the-money stock options outstanding at the end of each fiscal period. The market value per share was $6.49 at January 30, 2016.

The fair values of stock options granted in fiscal years 2015, 2014 and 2013 were estimated on the grant dates using the following assumptions:



	Fiscal Year Ended
	January 30, 2016	January 31, 2015	February 1, 2014
Average fair value per option granted	$3.06	$5.19	$6.31
Expected option term(1)	5.0 years	5.0 years	5.0 years
Expected volatility factor(2)	49.68%	46.84%	56.19%
Risk-free interest rate(3)	1.64%	1.76%	0.842%
Expected annual dividend yield	—%	—%	—%


(1)	We have limited historical information regarding expected option term. Accordingly, we determine the expected option term of the awards using the latest historical data available from comparable public companies and management’s expectation of exercise behavior.


(2)	Stock volatility for each grant is measured using the weighted average of historical daily price changes of our competitors’ common stock over the most recent period equal to the expected option term of the awards.


(3)	The risk-free interest rate is determined using the rate on treasury securities with the same term as the expected life of the stock option as of the grant date.

A summary of the status of non-vested restricted stock as of January 30, 2016 and changes during fiscal year 2015 are presented below:



	Shares	Weighted- Average Grant-Date Fair Value
Nonvested at January 31, 2015	48,584	$9.88
Granted	335,740	$15.15
Vested	(41,736)	$12.48
Forfeited	(118,000)	$16.07
Nonvested at January 30, 2016	224,588	$14.02

The following table summarizes share-based compensation recorded in the Consolidated Statements of Income:



	Fiscal Year Ended
	January 30, 2016	January 31, 2015	February 1, 2014
Cost of goods sold	$991	$750	$694
Selling, general and administrative expenses	2,935	2,749	2,412
Stock-based compensation	$3,926	$3,499	$3,106