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Share-Based Compensation | 9 Months Ended
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Oct. 29, 2022
Share-based Payment Arrangement [Abstract] |
SHARE-BASED COMPENSATION | SHARE-BASED COMPENSATION Financial statement impact The following table details share-based compensation expense and the related income tax impacts for the thirteen and thirty-nine weeks ended October 29, 2022 and October 30, 2021:
| Thirteen Weeks Ended |  | Thirty-Nine Weeks Ended
(in thousands) | October 29, 2022 |  | October 30, 2021 |  | October 29, 2022 |  | October 30, 2021
Share-based compensation expense | $ | 7,310 |  |  | $ | 7,332 |  |  | $ | 23,426 |  |  | $ | 22,269 |
Income tax benefit associated with share-based compensation expense recognized | 635 |  |  | 806 |  |  | 2,615 |  |  | 2,492 |
The following table details discrete income tax benefits and charges related to share-based compensation awards during the thirteen and thirty-nine weeks ended October 29, 2022 and October 30, 2021:
| Thirteen Weeks Ended |  | Thirty-Nine Weeks Ended
(in thousands) | October 29, 2022 |  | October 30, 2021 |  | October 29, 2022 |  | October 30, 2021
Income tax discrete (charges) benefits realized for tax deductions related to the issuance of shares | $ | (29) |  |  | $ | 150 |  |  | $ | 1,970 |  |  | $ | 4,166 |
Income tax discrete (charges) benefits realized upon cancellation of stock appreciation rights | (10) |  |  | — |  |  | (213) |  |  | (3) |
Total income tax discrete (charges) benefits related to share-based compensation awards | $ | (39) |  |  | $ | 150 |  |  | $ | 1,757 |  |  | $ | 4,163 |
The following table details the amount of employee tax withheld by the Company upon the issuance of shares associated with restricted stock units vesting and the exercise of stock appreciation rights for the thirteen and thirty-nine weeks ended October 29, 2022 and October 30, 2021:
| Thirteen Weeks Ended |  | Thirty-Nine Weeks Ended
(in thousands) | October 29, 2022 |  | October 30, 2021 |  | October 29, 2022 |  | October 30, 2021
Employee tax withheld upon issuance of shares (1) | $ | 426 |  |  | $ | 984 |  |  | $ | 14,432 |  |  | $ | 13,044 |
(1) Classified within other financing activities on the Condensed Consolidated Statements of Cash Flows. Restricted stock units The following table summarizes activity for restricted stock units for the thirty-nine weeks ended October 29, 2022:
| Service-based Restricted Stock Units |  | Performance-based Restricted Stock Units |  | Market-based Restricted Stock Units
| Number of Underlying Shares |  | Weighted- Average Grant Date Fair Value |  | Number of Underlying Shares |  | Weighted- Average Grant Date Fair Value |  | Number of Underlying Shares |  | Weighted- Average Grant Date Fair Value
Unvested at January 29, 2022 | 2,532,240 |  |  | $ | 17.16 |  |  | 340,149 |  |  | $ | 27.08 |  |  | 680,184 |  |  | $ | 22.81 |
Granted | 983,139 |  |  | 28.73 |  |  | 185,197 |  |  | 30.24 |  |  | 92,603 |  |  | 41.60 |
Adjustments for performance achievement | — |  |  | — |  |  | 5,668 |  |  | 23.05 |  |  | 18,881 |  |  | 36.24 |
Vested | (927,346) |  |  | 18.01 |  |  | (194,465) |  |  | 23.05 |  |  | (113,284) |  |  | 36.24 |
Forfeited | (136,982) |  |  | 20.37 |  |  | — |  |  | — |  |  | (16,247) |  |  | 16.24 |
Unvested at October 29, 2022 (1) | 2,451,051 |  |  | $ | 21.30 |  |  | 336,549 |  |  | $ | 31.08 |  |  | 662,137 |  |  | $ | 23.68 |
(1) Unvested shares related to restricted stock units with performance-based and market-based vesting conditions are reflected at 100% of their target vesting amount in the table above. Unvested shares related to restricted stock units with performance-based and market-based vesting conditions can be achieved at up to 200% of their target vesting amount. The following table details unrecognized compensation cost and the remaining weighted-average period over which these costs are expected to be recognized for restricted stock units as of October 29, 2022:
(in thousands) | Service-based Restricted Stock Units |  | Performance-based Restricted Stock Units |  | Market-based Restricted Stock Units
Unrecognized compensation cost | $ | 39,040 |  |  | $ | — |  |  | $ | 15,602 |
Remaining weighted-average period cost is expected to be recognized (years) | 1.3 |  | 0.0 |  | 0.9
Additional information pertaining to restricted stock units for the thirty-nine weeks ended October 29, 2022 and October 30, 2021 follows:
(in thousands) | October 29, 2022 |  | October 30, 2021
Service-based restricted stock units: |  |  |
Total grant date fair value of awards granted | $ | 28,246 |  |  | $ | 23,760 |
Total grant date fair value of awards vested | 16,702 |  |  | 13,232 |
Performance-based restricted stock units: |  |  |
Total grant date fair value of awards granted | 5,600 |  |  | 5,059 |
Total grant date fair value of awards vested | 4,482 |  |  | — |
Market-based restricted stock units: |  |  |
Total grant date fair value of awards granted | 3,852 |  |  | 4,492 |
Total grant date fair value of awards vested | 4,105 |  |  | 3,390 |
The weighted-average assumptions used for market-based restricted stock units in the Monte Carlo simulation during the thirty-nine weeks ended October 29, 2022 and October 30, 2021 were as follows:
| October 29, 2022 |  | October 30, 2021
Grant date market price | $ | 30.24 |  |  | $ | 36.15 |
Fair value | 41.60 |  |  | 56.99 |
Price volatility | 66 | % |  | 65 | %
Expected term (years) | 2.8 |  | 2.5
Risk-free interest rate | 2.5 | % |  | 0.3 | %
Dividend yield | — |  |  | — |
Average volatility of peer companies | 72.3 |  |  | 76.0 |
Average correlation coefficient of peer companies | 0.5150 |  | 0.5130
Stock appreciation rights The following table summarizes stock appreciation rights activity for the thirty-nine weeks ended October 29, 2022:
| Number of Underlying Shares |  | Weighted-Average Exercise Price |  | Aggregate Intrinsic Value |  | Weighted-Average Remaining Contractual Life (years)
Outstanding at January 29, 2022 | 236,139 |  |  | $ | 32.55 |  |  |  |  |
Forfeited or expired | (37,800) |  |  | 48.72 |  |  |  |  |
Outstanding at October 29, 2022 | 198,339 |  |  | $ | 29.47 |  |  | $ | — |  |  | 1.9
Stock appreciation rights exercisable at October 29, 2022 | 198,339 |  |  | $ | 29.47 |  |  | $ | — |  |  | 1.9
No stock appreciation rights were exercised during the thirty-nine weeks ended October 29, 2022 or October 30, 2021.

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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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