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Stock-Based Compensation (Tables)
9 Months Ended
Nov. 01, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Stock-Based Compensation Expense

The following table provides a summary of the Company’s stock-based compensation expense, which is included in Selling and administrative expense in the Condensed Consolidated Statements of Operations:

 

 

 

13 Weeks Ended

 

 

39 Weeks Ended

 

(in thousands)

 

November 1, 2024

 

 

October 27, 2023

 

 

November 1, 2024

 

 

October 27, 2023

 

Deferred awards

 

$

765

 

 

$

1,322

 

 

$

2,630

 

 

$

3,543

 

Performance awards (1)

 

 

585

 

 

 

300

 

 

 

1,170

 

 

 

(236

)

Option awards

 

 

103

 

 

 

104

 

 

 

311

 

 

 

312

 

Total stock-based compensation expense

 

$

1,453

 

 

$

1,726

 

 

$

4,111

 

 

$

3,619

 

 

(1)
Net credit expense for the 39 weeks ended October 27, 2023 includes a reduction of the accrual for Performance Awards based on actual and projected results relative to performance measures.
Summary of Deferred Awards Activity

The following table provides a summary of the Deferred Awards activity for the 39 weeks ended November 1, 2024:

 

 

 

Deferred Awards

 

(in thousands, except per share amounts)

 

Number of
Shares

 

 

Weighted Average
Grant Date Fair Value
per Share

 

Unvested Deferred Awards as of February 2, 2024

 

 

959

 

 

$

11.44

 

Granted

 

 

310

 

 

 

11.38

 

Vested

 

 

(284

)

 

 

14.32

 

Forfeited or expired

 

 

(223

)

 

 

10.48

 

Unvested Deferred Awards as of November 1, 2024

 

 

762

 

 

$

10.62

 

Summary of Performance Awards Activity

The following table provides a summary of the Performance Awards activity for the 39 weeks ended November 1, 2024:

 

 

 

Performance Awards

 

(in thousands, except per share amounts)

 

Number of
Shares

 

 

Weighted Average
Grant Date Fair Value
per Share

 

Unvested Performance Awards as of February 2, 2024

 

 

607

 

 

$

13.14

 

Granted

 

 

264

 

 

 

10.30

 

Change in estimate - performance

 

 

(57

)

 

 

29.95

 

Vested

 

 

 

 

 

 

Forfeited or expired

 

 

(122

)

 

 

11.46

 

Unvested Performance Awards as of November 1, 2024

 

 

692

 

 

$

10.99

 

Summary of Changes in Outstanding Options Awards

The following table provides a summary of the Option Awards activity for the 39 weeks ended November 1, 2024:

 

 

 

Option Awards

 

(in thousands, except per share amounts)

 

Number of
Shares

 

 

Weighted Average
Grant Date Fair Value
per Share

 

Option Awards outstanding as of February 2, 2024

 

 

511

 

 

$

16.08

 

Granted

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

Expired

 

 

(294

)

 

 

18.10

 

Option Awards outstanding as of November 1, 2024

 

 

217

 

 

$

13.34

 

Summary of Information about Option Awards Vested and Expected to Vest

The following table provides a summary of information about the Option Awards vested and expected to vest during the contractual term, as well as Option Awards exercisable as of November 1, 2024:

 

(in thousands, except contractual life and exercise price amounts)

 

Option Awards

 

 

Weighted
Average
Remaining Contractual Life (Years)

 

 

Weighted
Average
Exercise Price

 

 

Aggregate Intrinsic Value

 

Option Awards vested and expected to vest

 

 

217

 

 

 

6.77

 

 

$

13.34

 

 

$

887

 

Option Awards exercisable

 

 

133

 

 

 

5.98

 

 

$

14.93

 

 

$

444