Equity-Based Compensation (Tables)

6 Months Ended

Jul. 31, 2016

A summary of nonvested share activity for the six months ended July 31, 2016, is as follows:

	Number of Shares			Weighted Average Grant Date Fair Value		Intrinsic Value (in thousands)
Nonvested stock at February 1, 2016		1,407,170		$	5.20	$	7,205
Granted - Director's restricted stock		13,495			7.04
Granted - Restricted stock units		199,352			7.04
Granted - Performance vesting shares		447,903			4.70
Vested		(26,349	)		6.22
Forfeitures		(94,368	)		10.79
Nonvested stock at July 31, 2016		1,947,203		$	5.00	$	15,578

A summary of stock option activity for the six months ended July 31, 2016, is as follows:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Intrinsic Value (in thousands)
Outstanding at February 1, 2016		839,715		$	17.61		7.1	$	—
Granted		134,433			7.04
Expired		(10,000	)		29.29
Forfeited		(27,157	)		23.20
Outstanding at July 31, 2016		936,991		$	15.81		6.9	$	399
Exercisable at February 1, 2016		576,871		$	19.00		6.5
Exercisable at July 31, 2016		771,869		$	16.80		6.7	$	399

Assumptions:	2016
Weighted-average expected volatility		56.1%
Expected dividend yield		0.0%
Risk-free interest rate		0.6%
Expected term (in years)		1.9
Exercise multiple factor		1.4
Post-vesting forfeiture		20.3%

Assumptions used in the Monte Carlo simulation model for the six months ended July 31, 2016 were as follows:

Assumptions:	2016
Weighted-average fair value		4.7%
Weighted-average expected volatility		58.3%
Expected dividend yield		0.0%
Weighted-average risk free rate		0.9%