Stock-Based Compensation (Tables)

3 Months Ended

May 02, 2020

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Option Activity Under Stock Option Plan

The following table summarizes the stock option activity for the thirteen weeks ended May 2, 2020 (aggregate intrinsic value in thousands):



	Stock Options		Grant Date Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in Years)	Aggregate Intrinsic Value (1)
Outstanding at February 1, 2020	1,993,187		$	9.50
Granted	616,900		$	4.12
Forfeited	(3,000	)	$	11.41
Expired	(2,813	)	$	11.33
Outstanding at May 2, 2020	2,604,274		$	8.22	7.6	$	892
Exercisable at May 2, 2020	1,247,443		$	9.04	5.7	$	—


(1)	Intrinsic value for stock options is defined as the difference between the market price of our Class A common stock on the last business day of the fiscal period and the weighted average exercise price of in-the-money stock options outstanding at the end of the fiscal period. The market value per share was $5.57 at May 2, 2020.

Assumptions Used to Estimate Fair Value of Stock Options Granted

The fair values of stock options granted during the thirteen weeks ended May 2, 2020 and the thirteen weeks ended May 4, 2019 were estimated on the grant date using the following assumptions.



	Thirteen Weeks Ended
	May 2, 2020	May 4, 2019
Weighted average grant-date fair value per option granted	$2.05	$5.50
Expected option term (1)	5.3 years	5.0 years
Weighted average expected volatility factor (2)	57.3%	53.2%
Weighted average risk-free interest rate (3)	0.4%	2.4%
Expected annual dividend yield (4)	—%	—%


(1)	The expected option term of the awards represents the estimated time that options are expected to be outstanding based upon historical option data.


(2)	Stock volatility for each grant is measured using the historical daily price changes of our 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.


(4)	We do not currently have a dividend policy and we do not anticipate paying any additional cash dividends on our common stock at this time.

Summary of Status of Non-Vested Restricted Stock

A summary of non-vested RSAs at May 2, 2020 and February 1, 2020 are presented below:

Schedule of Stock Based Compensation

The following table summarizes share-based compensation expense recorded in the Consolidated Statements of (Loss) Income (in thousands):



	Thirteen Weeks Ended
	May 2, 2020		May 4, 2019
Cost of goods sold	$	146	$	116
Selling, general and administrative expenses	355		413
Total share-based compensation expense	$	501	$	529

Restricted
Stock

Weighted
Average
Grant-Date
Fair Value

Nonvested at May 2, 2020 and February 1, 2020