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STOCK-BASED COMPENSATION | 6 Months Ended
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Aug. 02, 2020
STOCK-BASED COMPENSATION | NOTE C. STOCK-BASED COMPENSATION Equity Award Programs Our Amended and Restated 2001 Long-Term Incentive Plan (the “Plan”) provides for grants of incentive stock options, nonqualified stock options, stock-settled stock appreciation rights (collectively, “option awards”), restricted stock awards, restricted stock units (including those that are performance-based), deferred stock awards (collectively, “stock awards”) and dividend equivalents up to an aggregate of 36,570,000 shares. As of August 2, 2020, there were approximately 2,480,000 shares available for future grant. Awards may be granted under the Plan to officers, employees and non-employee members of the board of directors of the company (the “Board”) or any parent or subsidiary. Shares issued as a result of award exercises or releases are primarily funded with the issuance of new shares. Option Awards Annual grants of option awards are limited to 1,000,000 shares on a per person basis and have a maximum term of seven years. The exercise price of these option awards must not be less than 100% of the closing price of our stock on the day prior to the grant date. Option awards granted to employees generally vest evenly over a period of four years for service-based awards. Certain option awards contain vesting acceleration clauses resulting from events including, but not limited to, retirement, merger or a similar corporate event. Stock Awards Annual grants of stock awards are limited to 1,000,000 shares on a per person basis. Stock awards granted to employees generally vest evenly over a period of four years for service-based awards. Certain performance-based awards, which have variable payout conditions based on predetermined financial targets, generally vest three years from the date of grant. Certain stock awards and other agreements contain vesting acceleration clauses resulting from events including, but not limite d to, retirement, disability, death, merger or a similar corporate event. Stock awards granted to non-employee Board members generally vest in one year . Non-employee Board members automatically receive stoc k awards on the date of their initial election to the Board and annually thereafter on the date of the annual meeting of stockholders (so long as they continue to serve as a non-employee Board member). Stock-Based Compensation Expense During the thirteen and twenty-six weeks ended August 2, 2020, we recognized total stock-based compensation expense, as a component of selling, general and administrative expenses, of $13,692,000 and $33,395,000, respectively. During the thirteen and twenty-six weeks ended August 4, 2019, we recognized total stock-based compensation expense, as a component of selling, general and administrative expenses, of $16,872,000 and $35,401,000, respectively. Restricted Stock Units The following table summarizes our restricted stock unit activity during the twenty-six weeks ended August 2, 2020:
|  | Shares |
Balance at February 2, 2020 |  |  | 2,884,194 |
Granted 1 |  |  | 1,106,666 |
Released 2 |  |  | (999,778 | )
Cancelled |  |  | (80,226 | )
Balance at August 2, 2020 |  |  | 2,910,856 |
Vested plus expected to vest at August 2, 2020 |  |  | 2,356,233 |
1 | Excludes 267,000 restricted stock units for which the accounting grant date had not yet been determined as of August 2,2020 and, consequently, for which no expense has been recognized for the twenty-six weeks then ended . These awards reduced the shares available for future grant under the Plan.
2 | Excludes 170,308 incremental shares released due to achievement of performance conditions above target.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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