Equity-Based Compensation (Tables)

12 Months Ended

Jan. 30, 2022

Share-based Payment Arrangement [Abstract]

Schedule of outstanding Partnership Interests

A summary of the Partnership Interests is presented below (shares in thousands):

	Number of Shares	Weighted Average Benchmark Price
Outstanding on January 31, 2021	6,322	$	6.92
Granted	406	18.00
Forfeitures	(58)	8.46
Repurchases	(15)	8.46
Outstanding prior to Reorganization Transactions	6,655	7.58
Conversion	4,690
Outstanding on January 30, 2022	11,345	$	—

	Number of Shares	Weighted Average Benchmark Price
Non-vested at January 31, 2021	2,785	$	7.01
Granted	406	18.00
Forfeitures	(58)	8.46
Repurchases	(15)	8.46
Vested	(114)	7.25
Non-vested prior to Reorganization Transactions	3,004	8.44
Conversion of non-vested awards	2,018	—
Non-vested following the Reorganization Transactions	5,022	—
Vested	(1,966)	—
Non-vested at January 30, 2022	3,056	$	—

Schedule of non-vested Partnership Interests

	Number of Shares	Weighted Average Benchmark Price
Non-vested at January 31, 2021	2,785	$	7.01
Granted	406	18.00
Forfeitures	(58)	8.46
Repurchases	(15)	8.46
Vested	(114)	7.25
Non-vested prior to Reorganization Transactions	3,004	8.44
Conversion of non-vested awards	2,018	—
Non-vested following the Reorganization Transactions	5,022	—
Vested	(1,966)	—
Non-vested at January 30, 2022	3,056	$	—

Schedule of weighted-average valuation assumptions

The fair value for these profits units was estimated by management, after considering a third-party valuation specialist’s assessment, at the date of grant based on the expected life of the profits units, using a Black-Scholes pricing model with the following weighted-average assumptions:

	January 30, 2022		January 31, 2021		February 2, 2020
Risk-free interest rate	0.78	%	0.63	%	2.13	%
Dividend yield	—	%	—	%	—	%
Expected volatility factor	50	%	50	%	50	%
Discount for lack of marketability	20	%	26	%	30	%
Expected life in years	5.0		5.0		4.5

Schedule of stock appreciation rights

A summary of the stock appreciation rights is presented below (shares in thousands):

	Number of Shares	Weighted Average Benchmark Price
Outstanding on January 31, 2021	200	$	10.00
Granted	100	18.00
Outstanding prior to Reorganization Transactions	300	12.66
Conversion	334
Outstanding following the Reorganization Transactions	634	5.00
Forfeitures	(53)	8.52
Outstanding on January 30, 2022	581	$	4.67

	Number of Shares	Weighted Average Benchmark Price
Non-vested at January 31, 2021	105	$	10.00
Granted	100	18.00
Vested	(20)	10.00
Non-vested prior to the Reorganization Transactions	185	14.32
Conversion of non-vested awards	206
Non-vested following the Reorganization Transactions	391	6.09
Vested	(42)	3.24
Forfeitures	(53)	8.52
Non-vested at January 30, 2022	296	$	6.07

The estimated fair value of the stock appreciation rights when granted was amortized to expense over the vesting or required service period. The fair value for these stock appreciation rights was estimated by management, after considering a third-party valuation specialist’s assessment, at the date of grant based on the expected life of the unit appreciation rights, using a Black-Scholes pricing model with the following weighted-average assumptions:

	January 30, 2022		February 2, 2020
Risk-free interest rate	0.78	%	2.13	%
Dividend yield	—	%	—	%
Expected volatility factor	50	%	50	%
Discount for lack of marketability	20	%	30	%
Expected life in years	5.0		4.5