Equity and Incentive Compensation Plans (Tables)

12 Months Ended

Jan. 31, 2015

Summary of Four Stock Incentive Plan

The Company has two active stock incentive plans (the “Plans”), which are summarized below:

		Shares Reserved		Shares  Reserved for Issuance at January 31, 2015	Shares Available for Future Grant
Defined Name	Plan Name	Restricted Stock/Units (1)	Total Authorized
2002 Plan	2002 Stock Option and Restricted Stock and Unit Award Plan	787,500	4,500,000	145,726	—
2003 Plan	2003 Equity Incentive Plan	7,434,432	13,424,432	4,433,729	2,882,232

(1) Included in the number of total authorized shares. The Company may issue restricted stock or restricted unit grants up to the levels provided under each plan, however shares not used for this purpose are available for issuance as stock option grants.

Summary of stock option activity

The following table summarizes stock option activity for the fiscal year ended January 31, 2015:

	Shares		Weighted Average Exercise Price
Options outstanding at February 1, 2014	2,199,719		$	26.60
Granted (1)	63,700		37.52
Exercised	(498,388	)	29.00
Forfeited or expired	(67,808	)	29.95
Options outstanding at January 31, 2015	1,697,223		$	26.17
Vested and exercisable at January 31, 2015	1,474,576		$	25.34
Options expected to vest in the future as of January 31, 2015	204,513		$	31.92

(1) Options granted during Fiscal 2014 vest annually over a three-year period and expire ten years after the grant date.

Fair Value of Options Granted Assumptions

	Fiscal Year Ended
	January 31, 2015		February 1, 2014		February 2, 2013
Expected volatility	47.5	%	50.9	%	54.6	%
Risk-free interest rate	1.7	%	0.9	%	0.9	%
Expected life (years)	5.4		4.9		4.4
Dividend yield	—		—		—

Restricted Stock

Summary of Restricted Stock Activity

The following table summarizes restricted stock activity for the fiscal year ended January 31, 2015:

	Time - Vesting					Performance - Vesting
	Number of Shares			Weighted Average Grant Date Fair Value		Number of Shares			Weighted Average Grant Date Fair Value
Restricted stock awards at February 1, 2014	602,205			$	29.95	289,935			$	29.56
Granted	409,906		(1)	37.55		141,617		(2)	37.53
Vested	(216,616	)		28.92		(124,139	)		29.24
Forfeited	(147,865	)		32.73		(85,350	)		31.48
Restricted stock awards at January 31, 2015	647,630			34.47		222,063			34.08

(1) Of this amount, 24,406 shares vest in June 2015; 127,700 shares vest in equal installments in each of March 2015, 2016 and 2017; 255,900 shares vest in equal installments in each of March 2017, 2018 and 2019; and 1,900 shares vest in equal installments in each of June 2015, 2016 and 2017.

(2) 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 target associated with such shares, grantees will not earn any shares with respect to that tranche.