Stock Based Compensation

3 Months Ended

Apr. 29, 2023

Note 7. Stock Based Compensation

The Company has outstanding awards under four employee stock award plans: the 2005 Long Term Incentive and Share Award Plan; the Amended and Restated 2005 Long Term Incentive and Share Award Plan; the 2005 Long Term Incentive and Share Award Plan (as amended and restated April 5, 2017 (the “Old Plans”); and Kaspien Holdings Inc. 2005 Long Term Incentive and Share Award Plan (as amended and restated on August 2, 2022) (the “New Plan”). Collectively, these plans are referred to herein as the Stock Award Plans. The Company no longer issues stock options under the Old Plans.

Equity awards authorized for issuance under the New Plan total 500,000. As of April 29, 2023, of the awards authorized for issuance under the Stock Award Plans, approximately 143,142 were granted and are outstanding, 30,821 of which were vested and exercisable. Shares available for future grants of options and other share-based awards under the New Plan as of January 28, 2023 were 443,000.

The following table summarizes stock award activity during the thirteen weeks ended April 29, 2023:

	Employee 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 28, 2023		123,642	$	6.00		7.5		19,500	$	18.35
Granted		-		-		-		-		-
Forfeited		-		-		-		-		-
Canceled		-		-		-		-		-
Exercised		-		-		-		-		-
Balance April 29, 2023		123,642	$	6.00		7.1		19,500	$	18.35
Exercisable April 29, 2023		30,821	$	15.37		4.4		-	$	-

⁽¹⁾Other Share Awards include deferred shares granted to executives and directors.

As of April 29, 2023, the intrinsic value of stock awards outstanding and stock awards exercisable was $0.