XML 27 R17.htm IDEA: XBRL DOCUMENT
v3.24.1.1.u2

Share-Based Compensation | 3 Months Ended
--- | ---
May 04, 2024
Share-Based Payment Arrangement [Abstract] |
SHARE-BASED COMPENSATION | SHARE-BASED COMPENSATION Financial statement impact The following table provides share-based compensation expense and the related income tax impacts for the thirteen weeks ended May 4, 2024 and April 29, 2023:
| Thirteen Weeks Ended |  |
(in thousands) | May 4, 2024 |  | April 29, 2023 |  |  |  |
Share-based compensation expense | $ | 11,363 |  |  | $ | 8,088 |  |  |  |  |
Income tax benefits associated with share-based compensation expense recognized | 1,278 |  |  | 1,005 |  |  |  |  |
The following table provides discrete income tax benefits and charges related to share-based compensation awards during the thirteen weeks ended May 4, 2024 and April 29, 2023:
|  |  | Thirteen Weeks Ended |  |
(in thousands) |  |  | May 4, 2024 |  | April 29, 2023 |  |  |  |
Income tax discrete benefits realized for tax deductions related to the issuance of shares |  |  | $ | 14,554 |  |  | $ | 1,117 |  |  |  |  |
Income tax discrete charges realized upon cancellation of stock appreciation rights |  |  | — |  |  | (101) |  |  |  |  |
Total income tax discrete benefits related to share-based compensation awards |  |  | $ | 14,554 |  |  | $ | 1,016 |  |  |  |  |
The following table provides 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 weeks ended May 4, 2024 and April 29, 2023:
| Thirteen Weeks Ended |  |
(in thousands) | May 4, 2024 |  | April 29, 2023 |  |  |  |
Employee tax withheld upon issuance of shares (1) | $ | 65,173 |  |  | $ | 18,359 |  |  |  |  |
(1) Classified within financing activities on the Condensed Consolidated Statements of Cash Flows. Restricted stock units The following table provides the summarized activity for restricted stock units for the thirteen weeks ended May 4, 2024:
| 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 February 3, 2024 | 1,886,085 |  |  | $ | 27.12 |  |  | 521,212 |  |  | $ | 30.03 |  |  | 260,619 |  |  | $ | 43.90 |
Granted | 226,209 |  |  | 120.49 |  |  | 53,775 |  |  | 120.56 |  |  | 26,895 |  |  | 180.71 |
Adjustments for performance achievement | — |  |  | — |  |  | 150,446 |  |  | 32.10 |  |  | 75,227 |  |  | 50.34 |
Vested | (757,301) |  |  | 24.37 |  |  | (300,892) |  |  | 32.10 |  |  | (150,454) |  |  | 50.34 |
Forfeited | (40,864) |  |  | 30.95 |  |  | — |  |  | — |  |  | — |  |  | — |
Unvested at May 4, 2024 (1) | 1,314,129 |  |  | $ | 44.71 |  |  | 424,541 |  |  | $ | 40.76 |  |  | 212,287 |  |  | $ | 58.95 |
(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 from zero up to 200% of their target vesting amount. The following table provides the unrecognized compensation cost and the remaining weighted-average period over which these costs are expected to be recognized for restricted stock units as of May 4, 2024:
| Service-based Restricted Stock Units |  | Performance-based Restricted Stock Units |  | Market-based Restricted Stock Units
Unrecognized compensation cost (in thousands) | $ | 53,083 |  |  | $ | 20,866 |  |  | $ | 8,037 |
Remaining weighted-average period cost is expected to be recognized (years) | 1.5 |  | 1.6 |  | 1.6
The following table provides additional information pertaining to restricted stock units for the thirteen weeks ended May 4, 2024 and April 29, 2023:
| Thirteen Weeks Ended
(in thousands) | May 4, 2024 |  | April 29, 2023
Service-based restricted stock units: |  |  |
Total grant date fair value of awards granted | $ | 27,256 |  |  | $ | 23,842 |
Total grant date fair value of awards vested | 18,455 |  |  | 15,560 |
Performance-based restricted stock units: |  |  |
Total grant date fair value of awards granted | 6,483 |  |  | 6,300 |
Total grant date fair value of awards vested | 9,659 |  |  | — |
Market-based restricted stock units: |  |  |
Total grant date fair value of awards granted | 4,860 |  |  | 4,576 |
Total grant date fair value of awards vested | 7,574 |  |  | 16,040 |
The following table provides the weighted-average assumptions used for market-based restricted stock units in the Monte Carlo simulation during the thirteen weeks ended May 4, 2024 and April 29, 2023:
| Thirteen Weeks Ended
| May 4, 2024 |  | April 29, 2023
Grant date market price | $ | 120.56 |  |  | $ | 28.36 |
Fair value | 180.71 |  |  | 41.20 |
Price volatility | 59 | % |  | 63 | %
Expected term (years) | 2.9 |  | 2.9
Risk-free interest rate | 4.3 | % |  | 4.6 | %
Dividend yield | — |  |  | — |
Average volatility of peer companies | 51.8 |  |  | 66.0 |
Average correlation coefficient of peer companies | 0.4866 |  | 0.5295
Stock appreciation rights The following table provides the summarized stock appreciation rights activity for the thirteen weeks ended May 4, 2024:
| Number of Underlying Shares |  | Weighted-Average Exercise Price |  | Aggregate Intrinsic Value (in thousands) |  | Weighted-Average Remaining Contractual Life (years)
Outstanding at February 3, 2024 | 25,600 |  |  | $ | 29.29 |  |  |  |  |
Exercised | (25,600) |  |  | 29.29 |  |  |  |  |
Forfeited or expired | — |  |  | — |  |  |  |  |
Outstanding at May 4, 2024 | — |  |  | $ | — |  |  | $ | — |  |  | 0.0
Stock appreciation rights exercisable at May 4, 2024 | — |  |  | $ | — |  |  | $ | — |  |  | 0.0
The following table provides additional information pertaining to stock appreciation rights exercised during the thirteen weeks ended May 4, 2024 and April 29, 2023:
(in thousands) | May 4, 2024 |  | April 29, 2023
Total grant date fair value of awards exercised | $ | 267 |  |  | $ | 64 |

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration