Share-Based Compensation (Notes)

3 Months Ended

Apr. 30, 2016

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

Stock-Based Compensation

2.Stock-Based Compensation

Stock-based compensation expense by type of grant for each period presented was as follows (in thousands):

	Three Months Ended
	April 30, 2016			May 2, 2015
Stock appreciation rights ("SARs")	$	—		$	30
Non-vested stock	1,736			1,606
Performance shares	1,073			1,073
Total compensation expense	2,809			2,709
Related tax benefit	(1,056		)	(1,019		)
Stock-based compensation expense, net of tax	$	1,753		$	1,690

As of April 30, 2016, we have unrecognized compensation cost of $27.2 million related to stock-based compensation awards granted. That cost is expected to be recognized over a weighted average period of 2.7 years.

SARs

The following table summarizes SARs activity for the three months endedApril 30, 2016:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in thousands)
Outstanding, vested and exercisable at January 30, 2016	224,400		$	17.16
Forfeited	(27,000	)	13.06
Outstanding, vested and exercisable at April 30, 2016	197,400		$	17.72	1.5	$	—

There were no SARs granted during the three months endedApril 30, 2016 and May 2, 2015. No SARs were exercised during the three months endedApril 30, 2016. The aggregate intrinsic value of stock options and SARs exercised during the three months endedMay 2, 2015 was $0.7 million.

Non-vested Stock

The following table summarizes non-vested stock activity for the three months endedApril 30, 2016:

Non-vested Stock	Number of Shares		Weighted Average Grant  Date Fair Value
Outstanding at January 30, 2016	894,526		$	20.20
Granted	1,086,645		7.14
Vested	(282,114	)	19.95
Forfeited	(22,547	)	19.33
Outstanding at April 30, 2016	1,676,510

The weighted-average grant date fair value for non-vested stock granted during the three months endedApril 30, 2016 and May 2, 2015 was $7.14 and $21.18, respectively. The aggregate intrinsic value of non-vested stock that vested during the three months endedApril 30, 2016 and May 2, 2015, was $2.2 million and $4.1 million, respectively. The payment of the employees' tax liability for a portion of the vested shares was satisfied by withholding shares with a fair value equal to the tax liability. As a result, the actual number of shares issued during three months endedApril 30, 2016 was 212,560.

Performance Shares

We grant performance shares as a means of rewarding management for our long-term performance based on shareholder return performance measures. The actual number of shares that may be issued ranges from zero to a maximum of twice the number of granted shares outstanding, as reflected in the table below, and is based on our shareholder return performance relative to a specific group of companies over a 3-year performance cycle. If earned, the performance shares vest following the 3-year cycle. Compensation expense, which is recorded ratably over the vesting period, is based on the fair value at grant date and the anticipated number of shares of our common stock, which is determined using a Monte Carlo probability model. Grant recipients do not have any shareholder rights until the granted shares have been issued.

The following table summarizes information about the performance shares that were outstanding at April 30, 2016:

Period Granted	Target Shares Outstanding at January 30, 2016	Target Shares Granted	Target Shares Vested	Target Shares Forfeited		Target Shares Outstanding at April 30, 2016	Weighted Average Grant Date Fair Value Per Share
2014	160,423	—	—	(2,292	)	158,131	$	33.84
2015	223,876	—	—	(3,809	)	220,067	28.33
2016	—	451,680	—	—		451,680	8.69
Total	384,299	451,680	—	(6,101	)	829,878

The weighted-average grant date fair value for performance shares granted during the three months endedApril 30, 2016 and May 2, 2015 was $8.69 and $28.42, respectively. For the 2013 performance grant, none of the 112,750 target shares that were outstanding at January 30, 2016 were earned. The aggregate intrinsic value of performance shares that vested during the three months endedMay 2, 2015 was $4.9 million.