Equity and Incentive Compensation Plans (Tables)

9 Months Ended

Nov. 02, 2013

The following table summarizes stock option activity for the nine months ended November 2, 2013:



	Shares		Weighted Average Exercise Price
Options outstanding at beginning of period	2,785,102		$	25.61
Granted (1)	101,400		30.73
Exercised	(269,314	)	20.56
Forfeited or expired	(104,100	)	29.67
Options outstanding at end of period	2,513,088		$	26.19

Vested and exercisable at November 2, 2013	2,007,739		$	25.60

Options expected to vest in the future as of November 2, 2013	437,422		$	28.59


(1)	Awards vest annually over a three-year period and expire ten years after the grant date.

Weighted-Average Assumptions

The Company uses the Black-Scholes option pricing model to estimate the fair value of options granted as of the grant date. For the quarters and nine months ended November 2, 2013 and October 27, 2012, the fair value of options granted was estimated using the following weighted average assumptions:



	Quarter Ended				Nine Months Ended
	November 2, 2013		October 27, 2012		November 2, 2013		October 27, 2012
Expected volatility	—	%	53.4	%	52.9	%	54.6	%
Risk-free interest rate	—	%	0.6	%	0.9	%	0.9	%
Expected life (years)	—		4.4		5.0		4.4
Dividend yield	—		—		—		—

Restricted Stock

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

The following table summarizes restricted stock activity for the nine months ended November 2, 2013:



	Time - Based					Performance - Based
	Number of Shares			Weighted Average Grant Date Fair Value		Number of Shares			Weighted Average Grant Date Fair Value
Restricted stock awards at February 2, 2013	461,396			$	27.96	203,671			$	27.81
Granted	401,228		⁽¹⁾	30.82		184,699		⁽²⁾	30.86
Vested	(187,942	)		27.50		(82,633	)		27.92
Forfeited	(59,917	)		29.06		(11,300	)		30.73
Restricted stock awards at November 2, 2013	614,765			$	29.86	294,437			$	29.58


(1)	Of this amount, 181,500 shares vest in equal installments in each of March 2014, 2015 and 2016; 179,100 shares vest in March 2016; 27,628 shares vest in May 2014; and 13,000 shares vest in equal installments in each of June 2014, 2015 and 2016.

(2)

Of this amount, 175,500 of these shares vest over a three-year period based on achievement of performance targets set bi-annually for each tranche of the grant. Based on Company performance, grantees may earn 50% to 150% of the shares granted with respect to each tranche. If the Company does not achieve the minimum threshold goal associated with such shares, grantees will not earn any shares with respect to that tranche. In addition, 3,138 of these shares relate to over achievement of the Spring 2012 tranche and vested in March 2013 and 6,061 of these shares relate to the over achievement of the Spring 2013 tranche and will vest in March 2014.

Restricted Stock Units

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

The following table summarizes restricted unit activity for the nine months ended November 2, 2013:



	Time - Based				Performance - Based
	Number of Shares		Weighted Average Grant Date Fair Value		Number of Shares		Weighted Average Grant Date Fair Value
Restricted unit awards at February 2, 2013	75,016		$	19.58	46,003		$	19.58
Vested (1)	(75,016	)	19.58		(46,003	)	19.58
Restricted unit awards at November 2, 2013	—		$	—	—		$	—


(1)	All restricted unit awards vested in shares during the first quarter of Fiscal 2013.