Stock Based Compensation

9 Months Ended

Oct. 28, 2023

Stock Based Compensation [Abstract]

Stock Based Compensation

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 October 28, 2023, of the awards authorized for issuance under the Stock Award Plans, approximately 182,255 were granted and are outstanding, 35,979 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 398,762.

The following table summarizes stock award activity during the thirteen weeks ended October 28, 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		-			-			-		60,000			0.61
Forfeited		(12,637	)		(5.90	)		-		(2,625	)		-
Canceled		(500	)		(97.40	)		-		-			-
Exercised		-			-			-		(5,125	)		-
Balance October 28, 2023		110,505		$	6.01			8.1		71,750		$	4.96
Exercisable October 28, 2023		35,979		$	13.06			6.7		-			-

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

As of October 28, 2023, the intrinsic value of stock awards outstanding and stock awards exercisable was $0.