Stock Based Compensation

9 Months Ended

Nov. 01, 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 November 1, 2014, there was approximately $1.0 million of unrecognized compensation cost related to stock awards that is expected to be recognized as expense over a weighted average period of 1.7 years.

As of November 1, 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, 2.8 million were granted and are outstanding, 1.8 million of which were vested and exercisable. Awards available for future grants at November 1, 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 thirty-nine weeks ended November 1, 2014:

	Minimum		Maximum
Dividend yield		0%
Expected stock price volatility	47.0%	-	66.8%
Risk-free interest rate	1.45%	-	2.18%
Expected award life (in years)	4.92	-	5.71
Weighted average fair value per share of awards granted during the period		$1.93

The following table summarizes stock award activity during the thirty-nine weeks ended November 1, 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		492,500			3.45		9.8		226,459		3.47
Exercised		(27,000	)		1.73		—		—		—
Forfeited		(14,500	)		3.66		—		—		—
Canceled		(752,590	)		10.31		—		—		—
Balance November 1, 2014		2,605,600		$	6.64		4.28		237,400	$	3.75
Exercisable November 1, 2014		1,736,350		$	8.20		1.93		37,400	$	3.75

(1) Other Share Awards include deferred shares granted to Directors and restricted stock units granted to Chief Executive Officer.

As of November 1, 2014, the intrinsic value of stock awards outstanding was $503,000 and exercisable was $332,000.