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Share-Based Compensation | 3 Months Ended
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May 01, 2022
Share-based Payment Arrangement, Noncash Expense [Abstract] |
Share-Based Compensation | Share-Based Compensation Financial Statement Effects and Presentation Pre-tax share-based compensation was included in the Statements of Income as follows:
| Three Months Ended |  |
(in thousands) | May 1, 2022 |  | May 2, 2021 |  |  |  |
Cost of sales | $ | 775 |  |  | $ | 718 |  |  |  |  |
Selling, general and administrative | 6,132 |  |  | 7,359 |  |  |  |  |
Product development and engineering | 3,986 |  |  | 3,762 |  |  |  |  |
Total share-based compensation | $ | 10,893 |  |  | $ | 11,839 |  |  |  |  |
Restricted Stock Units, Employees The Company grants restricted stock units to certain employees, which are expected to be settled with shares of the Company's common stock. The grant date for these awards is equal to the measurement date. These awards are valued as of the measurement date, based on the fair value of the Company's common stock at the grant date, and recognized as share-based compensation expense over the requisite vesting period (typically 4 years). In the three months ended May 1, 2022, the Company granted 166,023 restricted stock units to employees. Total Stockholder Return ("TSR") Market-Condition Restricted Stock Units The Company grants TSR market-condition restricted stock units (the "TSR Awards") to certain executives of the Company. The TSR Awards have a pre-defined market-condition, which determines the number of shares that ultimately vest, as well as a service condition. The TSR Awards are valued as of the grant date using a Monte Carlo simulation, which takes into consideration the possible outcomes pertaining to the TSR market condition and expense is recognized on a straight-line basis over the requisite service periods and is adjusted for any actual forfeitures. In the three months ended May 1, 2022, the Company granted 125,399 TSR Awards, which are accounted for as equity awards. The market condition is determined based upon the Company’s TSR benchmarked against the TSR of the S&P SPDR Semiconductor ETF (NYSE:XSD) over one, two and three year periods (one-third of the awards vesting each performance period). Generally, the fiscal year 2023 TSR Award recipients must be employed for the entire performance period and be an active employee at the time of vesting of the awards. The grant-date fair value per unit of the TSR Awards granted in the three months ended May 1, 2022 for each one, two and three year performance period was $57.92, $68.94 and $75.69, respectively.

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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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- References No definition available. + Details
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