Stock-Based Compensation

3 Months Ended

Apr. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

For the thirteen weeks ended April 30, 2016 and May 2, 2015, stock-based compensation expense was $5.5 million and $7.6 million, respectively. As of April 30, 2016, approximately 5.3 million shares remain available for future grants of equity awards under our 2012 Omnibus Stock and Incentive Plan.

Restricted Stock Awards

Restricted stock award activity for the thirteen weeks ended April 30, 2016 was as follows:



	Number of Shares		Weighted Average Grant Date Fair Value
Unvested, beginning of period	2,585,392		$	16.60
Granted	1,368,190		12.56
Vested	(779,905	)	17.19
Forfeited	(229,038	)	15.64
Unvested, end of period	2,944,639		14.64

Performance-based Stock Units

For the thirteen weeks ended April 30, 2016, we granted performance-based restricted stock units (“PSUs”), contingent upon the achievement of a Company-specific performance goal during fiscal 2016. Any units earned as a result of the achievement of this goal will vest over 3 years from the date of grant and will be settled in shares of our common stock.

Performance-based restricted stock unit activity for the thirteen weeks ended April 30, 2016 was as follows:



	Number of Shares		Weighted Average Grant Date Fair Value
Unvested, beginning of period	469,898		$	18.23
Granted	733,360		12.55
Vested	(214,465	)	18.23
Forfeited ⁽¹⁾	(183,608	)	16.51
Unvested, end of period	805,185		13.45

⁽¹⁾ The performance goal for the PSUs granted in 2015 was not fully met. Forfeitures for the thirteen weeks ended April 30, 2016 include the portion of the fiscal 2015 PSUs that were not earned.

Stock Option Awards

For the thirteen weeks ended April 30, 2016 and May 2, 2015, we did not grant any stock options.

Stock option activity for the thirteen weeks ended April 30, 2016 was as follows:



	Number of Shares		Weighted Average Exercise Price
Outstanding, beginning of period	1,060,774		$	15.17
Granted	—		—
Exercised	(6,600	)	8.24
Forfeited or expired	(59,000	)	27.78
Outstanding and exercisable at April 30, 2016	995,174		14.47

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details