SHARE CAPITAL

3 Months Ended

Apr. 30, 2022

SHARE CAPITAL

4. SHARE CAPITAL

Authorized

An unlimited number of common shares.

Issued and outstanding

	April 30,		January 29,
	2022		2022
	$		$
Share Capital - (26,427,292) Common shares (January 29, 2022 - 26,423,717)		113,540		113,534

During the three-month period ended April 30, 2022, 3,575 common shares (May 1, 2021 – 21,187 common shares) were issued in relation to the vesting of restricted stock units (“RSU”), resulting in an increase in share capital of $6, net of tax (May 1, 2021 – $70) and a reduction in contributed surplus of $12 (May 1, 2021 – $142).

Stock-based compensation

As at April 30, 2022, 1,065,688 (May 1, 2021, 1,246,519) common shares remain available for issuance under the 2015 Omnibus Plan.

No stock options were granted during the three-month periods ended April 30, 2022 and May 1, 2021. A summary of the status of the Company’s stock option plan and changes during the three-month period are presented below.

	For the three-months ended
	April 30,				May 1,
	2022				2021
			Weighted				Weighted
			average				average
	Options		exercise		Options		exercise
	outstanding		price		outstanding		price
	#		$		#		$
Outstanding and exercisable - beginning and end of period		3,490		6.32		17,490		6.32

A summary of the status of the Company’s RSU plan and changes during the three-month period are presented below.

	For the three-months ended
	April 30,					May 1,
	2022					2021
				Weighted					Weighted
				average					average
	RSUs			fair value		RSUs			fair value
	outstanding			per unit (1)		outstanding			per unit (1)
	#			$		#			$
Outstanding, beginning of period		1,282,790			2.60		1,306,101			1.70
Forfeitures		(27,466	)		2.28		(24,131	)		1.45
Vested		(3,575	)		1.71		(21,187	)		3.32
Vested, withheld for tax		(3,723	)		1.71		(22,065	)		3.32
Outstanding, end of period		1,248,026			2.62		1,238,718			1.65

_____________

(1) Weighted average fair value per unit as at date of grant.

During the three-month period ended April 30, 2022, the Company recognized a stock-based compensation expense of $310 (May 1, 2021 – $182).