Stock Based Compensation

9 Months Ended

Oct. 29, 2016

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 October 29, 2016, there was approximately $0.9 million of unrecognized compensation cost related to stock awards that is expected to be recognized as expense over a weighted average period of 2.8 years.

As of October 29, 2016, stock awards authorized for issuance under the Company’s current long term equity incentive plans totaled 8.0 million. There are certain authorized stock plans for which the Company no longer grants awards. Of these awards authorized for issuance, 2.6 million were granted and are outstanding, 1.3 million of which were vested and exercisable. Awards available for future grants at October 29, 2016 were 1.2 million.

The table below outlines the assumptions that the Company used to estimate the fair value of stock options granted during the thirty-nine weeks ended October 29, 2016:

Dividend yield	0%
Expected stock price volatility	38.0%-47.5%
Risk-free interest rate	1.06%-1.56%
Expected award life (in years)	4.92-6.98
Weighted average fair value per share of options granted during the period	$1.19

The following table summarizes stock award activity during the thirty-nine weeks ended October 29, 2016:

	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 Fair Value
Balance January 30, 2016		2,111,825		$	4.04		5.00		211,174		$	3.79
Granted		909,664			3.74		9.80		68,097			3.84
Canceled		(636,425	)		5.25		—		—			—
Exercised		(18,000	)		2.09		—		(108,344	)		3.68
Balance October 29, 2016		2,367,064		$	3.61		7.44		170,927		$	3.87
Exercisable October 29, 2016		1,154,189		$	3.51		5.88		63,427		$	4.50

(1) Other Share Awards include deferred shares granted to Directors and restricted share units granted to executive officers.

As of October 29, 2016, the intrinsic value of stock awards outstanding was approximately $958,000 and exercisable was $736,000.

In connection with the acquisition of etailz, the Company issued 1,572,552 restricted shares of Company stock to a key etailz employee, with a grant date fair value of $3.56 per share. These shares vest ratably through January 2019. As of October 29, 2016, the Company recognized $207,000 of compensation cost related to these shares. As of October 29, 2016, there was approximately $5.4 million of unrecognized compensation cost related to these restricted shares that is expected to be recognized as expense over a weighted average period of 2.3 years.