Stock-Based Compensation

3 Months Ended

Apr. 30, 2022

Note 5 - Stock-Based Compensation

Stock-based compensation includes share-settled awards issued pursuant to our 2017 Plan in the form of restricted stock units, performance stock units, and restricted and other stock awards. Additionally, we recognize stock-based compensation expense for the discount on shares sold to employees through our Employee Stock Purchase Plan and for cash-settled stock appreciation rights. For the thirteen weeks ended April 30, 2022 and May 1, 2021, stock-based compensation expense was comprised of the following:


(In thousands)	Thirteen Weeks Ended April 30, 2022			Thirteen Weeks Ended May 1, 2021
Share-settled equity awards	$	1,355		$	1,140
Stock appreciation rights		(123	)		76
Employee stock purchase plan		8			11
Total stock-based compensation expense	$	1,240		$	1,227
Income tax effect at statutory rates	$	(296	)	$	(304	)
Additional income tax benefit on vesting of share-settled awards	$	(495	)	$	(880	)

As of April 30, 2022, approximately $11.4 million of unrecognized compensation expense remained related to our share-settled equity awards. The cost is expected to be recognized over a weighted average period of approximately 1.9 years.

Share-Settled Equity Awards

The following table summarizes transactions for our restricted stock units and performance stock units:


	Number of Shares			Weighted- Average Grant Date Fair Value
Outstanding at January 29, 2022		457,038		$	16.54
Granted		336,164			30.52
Vested		(170,425	)		18.46
Forfeited		(25,103	)		(18.07	)
Outstanding at April 30, 2022		597,674		$	23.79

The total fair value at grant date of restricted stock units and performance stock units that vested during each of the thirteen weeks ended April 30, 2022 and May 1, 2021 was $3.1 million. The weighted-average grant date fair value of restricted stock units and performance stock units granted during the thirteen weeks ended April 30, 2022 and May 1, 2021 was $30.52 and $28.21, respectively.