Stock-Based Compensation

9 Months Ended

Oct. 29, 2022

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Stock-Based Compensation

Note 5 - Stock-Based Compensation

Stock-based compensation includes share-settled awards issued pursuant to our 2017 Equity Incentive 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 and thirty-nine weeks ended October 29, 2022 and October 30, 2021, stock-based compensation expense was comprised of the following:

	Thirteen Weeks Ended			Thirteen Weeks Ended			Thirty-nine Weeks Ended			Thirty-nine Weeks Ended
(In thousands)	October 29, 2022			October 30, 2021			October 29, 2022			October 30, 2021
Share-settled equity awards	$	1,780		$	1,356		$	4,665		$	3,876
Stock appreciation rights		6			71			(155	)		220
Employee stock purchase plan		9			5			26			22
Total stock-based compensation expense	$	1,795		$	1,432		$	4,536		$	4,118
Income tax effect at statutory rates	$	(460	)	$	(356	)	$	(1,138	)	$	(1,036	)
Additional income tax benefit on vesting of share-settled awards	$	(6	)	$	(107	)	$	(527	)	$	(992	)

As of October 29, 2022, approximately $9.3 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 1.4 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		345,164			30.32
Vested		(178,425	)		18.26
Forfeited		(25,103	)		18.07
Outstanding at October 29, 2022		598,674		$	23.91

The total fair value at grant date of restricted stock units and performance stock units that vested during the thirty-nine weeks ended October 29, 2022 and October 30, 2021 was $3.3 million and $3.7 million, respectively. The weighted-average grant date fair value of restricted stock units and performance stock units granted during the thirty-nine weeks ended October 30, 2021 was $28.21.

The following table summarizes transactions for our restricted stock and other stock awards:

	Number of Shares		Weighted- Average Grant Date Fair Value
Outstanding at January 29, 2022		0	$	0.00
Granted		19,487		24.12
Vested		0		0.00
Forfeited		0		0.00
Outstanding at October 29, 2022		19,487	$	24.12

No restricted stock and other stock awards vested during the thirty-nine weeks ended October 29, 2022. The total fair value at grant date of restricted stock and other stock awards that vested during the thirty-nine weeks ended October 30, 2021 was $26,000. The weighted-average grant date fair value of restricted stock and other stock awards granted during the thirty-nine weeks ended October 30, 2021 was $32.79.