Stock-Based Compensation

6 Months Ended

Nov. 01, 2014

Stock-Based Compensation

(12) Stock-Based Compensation

For the 13 and 26 weeks ended November 1, 2014 and October 26, 2013, the Company recognized stock-based compensation expense in selling and administrative expenses as follows:

	13 weeks ended					26 weeks ended
	November 1, 2014		October 26, 2013			November 1, 2014		October 26, 2013
Restricted Stock Expense	$	283		584		$	551		1,293
Restricted Stock Units Expense		6,575		1,042			10,604		5,994
Stock Option Expense		1,807		(167	)		2,116		(1,606	)
Stock-Based Compensation Expense	$	8,665		1,459		$	13,271		5,681

On July 8, 2013, the Company announced that William J. Lynch, Jr. resigned from the Company’s Board of Directors and as Chief Executive Officer of the Company, effective immediately. In connection with his termination of employment on July 8, 2013, Mr. Lynch received full vesting in respect of 275,846 restricted stock units granted by the Company to Mr. Lynch, which had an aggregate value of $4,968. As a result of his resignation, Mr. Lynch forfeited 166,667 shares of restricted stock units and 1,000,000 stock options, which had an aggregate forfeiture value of $1,119 and $1,690, respectively. The net stock compensation cost for his resignation was $1,883 and was recorded in selling and administrative expenses during the 13 weeks ended July 27, 2013.