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Stock Based Compensation

6 Months Ended

Aug. 02, 2014

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

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

Note 4. Stock Based Compensation

As of August 2, 2014, there was approximately $712,000 of unrecognized compensation cost related to stock award awards that is expected to be recognized as expense over a weighted average period of 2.0 years.

As of August 2, 2014, stock awards authorized for issuance under the Company’s plans total 15.8 million. There are certain authorized stock awards for which the Company no longer grants awards. Of these awards authorized for issuance, 2.4 million were granted and are outstanding, 1.8 million of which were vested and exercisable. Awards available for future grants at August 2, 2014 were 3.0 million.

The table below outlines the assumptions that the Company used to estimate the fair value of stock based awards granted during the twenty-six weeks ended August 2, 2014:

Dividend yield		0%
Expected stock price volatility		52.6%-68.0%
Risk-free interest rate		1.65%-2.18%
Expected award life (in years)		4.92-5.71
Weighted average fair value per share of awards granted during the period		$1.95

The following table summarizes stock award activity during the twenty-six weeks ended August 2, 2014:

	Employee and Director Stock Award Plans
	Number of Shares Subject To Option			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Other Share Awards⁽¹⁾		Weighted Average Grant Date Fair Value
Balance February 1, 2014		2,907,190		$	8.07		2.90		10,941	$	9.50

Granted		192,500			3.36		9.9		26,459		3.23
Exercised		(18,000	)		1.73		—		—		—
Forfeited		—			—		—		—		—
Canceled		(752,590	)		10.31		—		—		—
Balance August 2, 2014		2,329,100		$	7.00		3.83		37,400	$	5.07
Exercisable August 2, 2014		1,741,600		$	8.18		2.18		37,400	$	5.07

(1)

Other Share Awards include deferred shares granted to Directors.

As of August 2, 2014, the intrinsic value of stock awards outstanding was $737,000 and exercisable was $441,000.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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