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Share-Based Compensation (Tables)

6 Months Ended

Jul. 30, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

						Weighted- Average				Weighted- Average Remaining Contractual				Aggregate
		Options				Exercise Price				Term				Intrinsic Value
		(In thousands)								(In years)				(In thousands)
Outstanding - January 29, 2022			3,647			$	16.74
Granted			1,094			$	17.24
Exercised			(80	)		$	8.62
Cancelled			(398	)		$	16.02
Outstanding - July 30, 2022			4,263			$	17.09				4.4				2,401
Vested and expected to vest - July 30, 2022			3,022			$	17.00				3.1				782
Exercisable - July 30, 2022 (1)			460			$	8.62				4.4				1,575

(1)Options exercisable represent “in-the-money” vested options based upon the weighted-average exercise price of vested options compared to the Company’s stock price on July 30, 2022.

Black-Scholes Option Valuation Assumptions

The fair value of stock options was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:

		26 Weeks Ended			26 Weeks Ended
		July 30,			July 31,
Black-Scholes Option Valuation Assumptions		2022			2021
Risk-free interest rate (1)			2.5	%		0.9	%
Dividend yield			3.8	%		1.6	%
Volatility factor (2)			52.2	%		50.7	%
Weighted-average expected term (3)		4.5 years			4.5 years

(1)Based on the U.S. Treasury yield curve in effect at the time of grant with a term consistent with the expected life of our stock options.

(2)Based on historical volatility of the Company’s common stock.

(3)Represents the period of time options are expected to be outstanding. The weighted average expected option terms were determined based on historical experience.

Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity is presented in the following table:

		Time-Based Restricted Stock Units								Performance-Based Restricted Stock Units
		July 30, 2022								July 30, 2022
(Shares in thousands)		Shares				Weighted- Average Grant Date Fair Value				Shares				Weighted- Average Grant Date Fair Value
Non-vested - January 29, 2022			2,702			$	16.25				1,462			$	20.95
Granted			1,578			$	16.59				549			$	19.16
Vested			(1,189	)		$	14.93				(257	)		$	21.28
Cancelled			(181	)		$	14.27				(76	)		$	21.16
Non-vested - July 30, 2022			2,910			$	17.10				1,678			$	20.30

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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-Name Accounting Standards Codification
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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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