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Stock-Based Compensation (Tables)
6 Months Ended
Aug. 01, 2020
Summary of Restricted Stock Awards Transactions

The following table summarizes transactions for our restricted stock awards pursuant to our stock-based compensation plans:

 

 

 

Number of

Shares

 

 

Weighted-

Average Grant

Date Fair Value

 

Restricted stock at February 1, 2020

 

 

67,435

 

 

$

24.23

 

Granted

 

 

12,045

 

 

 

24.91

 

Vested

 

 

(52,619

)

 

 

24.20

 

Forfeited or expired

 

 

(14,816

)

 

 

24.37

 

Restricted stock at August 1, 2020

 

 

12,045

 

 

$

24.91

 

Summary of SARs Activity

The following table summarizes the SARs activity:

 

 

 

Number of

Shares

 

 

Weighted-

Average

Exercise Price

 

 

Weighted-

Average

Remaining

Contractual

Term (Years)

 

Outstanding at February 1, 2020

 

 

43,200

 

 

$

34.95

 

 

 

 

 

Granted

 

 

43,000

 

 

 

13.79

 

 

 

 

 

Forfeited

 

 

(2,600

)

 

 

34.95

 

 

 

 

 

Exercised

 

 

0

 

 

 

0.00

 

 

 

 

 

Outstanding at August 1, 2020

 

 

83,600

 

 

$

24.07

 

 

 

2.2

 

Schedule of SARs Assumptions

The fair value was estimated using a trinomial lattice model with the following assumptions:

 

 

 

August 1, 2020

 

 

August 3, 2019

 

Risk free interest rate yield curve

 

0.09% - 0.21%

 

 

1.66% - 2.11%

 

Expected dividend yield

 

1.5%

 

 

1.5%

 

Expected volatility

 

65.03%

 

 

48.97%

 

Maximum life

 

2.2 Years

 

 

2.7 Years

 

Exercise multiple

 

 

1.29

 

 

 

1.29

 

Maximum payout

 

$

10.00

 

 

$

10.00

 

Employee exit rate

 

2.2% - 9.0%

 

 

2.2% - 9.0%

 

Restricted Stock Units and Performance Stock Units [Member]  
Summary of Stock Compensation Expense

The following table summarizes information regarding stock-based compensation expense recognized for all share-settled equity awards (restricted stock units, performance stock units and restricted stock awards):

 

(In thousands)

 

Thirteen

Weeks Ended August 1, 2020

 

 

Thirteen

Weeks Ended August 3, 2019

 

 

Twenty-six

Weeks Ended August 1, 2020

 

 

Twenty-six

Weeks Ended August 3, 2019

 

Stock-based compensation expense before the

   recognized income tax effect

 

$

740

 

 

$

1,450

 

 

$

1,870

 

 

$

3,388

 

Income tax effect

 

$

219

 

 

$

356

 

 

$

588

 

 

$

630

 

Stock Appreciation Rights (SARs) [Member]  
Summary of Stock Compensation Expense

The following table summarizes information regarding stock-based compensation expense recognized for SARs:

 

(In thousands)

 

Thirteen

Weeks Ended August 1, 2020

 

 

Thirteen

Weeks Ended August 3, 2019

 

 

Twenty-six

Weeks Ended August 1, 2020

 

 

Twenty-six

Weeks Ended August 3, 2019

 

Stock-based compensation expense before the

   recognized income tax effect

 

$

91

 

 

$

25

 

 

$

4

 

 

$

34

 

Income tax effect

 

$

27

 

 

$

6

 

 

$

1

 

 

$

6

 

Restricted Stock Units and Performance Stock Units [Member]  
Summary of Restricted Stock Awards Transactions

The following table summarizes transactions for our restricted stock units and performance stock units pursuant to our stock-based compensation plans:

 

 

 

Number of

Shares

 

 

Weighted-

Average Grant

Date Fair Value

 

Restricted stock units and performance stock units at

   February 1, 2020

 

 

263,135

 

 

$

29.44

 

Granted

 

 

158,439

 

 

 

14.88

 

Vested

 

 

(163,099

)

 

 

26.76

 

Forfeited

 

 

(1,717

)

 

 

31.94

 

Restricted stock units and performance stock units at

   August 1, 2020

 

 

256,758

 

 

$

22.14