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Share-based compensation expense
9 Months Ended
Nov. 01, 2014
Share-based compensation expense

18. Share-based compensation expense

Signet recorded share-based compensation expense of $3.5 million and $10.7 million for the 13 and 39 weeks ended November 1, 2014, respectively, related to the Omnibus Plans and Saving Share Plans ($3.8 million and $10.3 million for the 13 and 39 weeks ended November 2, 2013, respectively).

During the third quarter of Fiscal 2015, the Company issued a grant of performance-based restricted stock units (“RSUs”) under the Omnibus Plan. This grant occurred as part of the Signet Integration Incentive Plan (“IIP”), a transaction-related special incentive program that was designed to facilitate the integration of the Zale acquisition and to reward the anticipated efforts of key management personnel on both sides of the transaction. The RSUs vest, subject to continued employment, based upon actual gross synergies realized during the one year performance period compared to targeted gross synergy metrics established in the underlying grant agreement.