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Share-Based Compensation | 3 Months Ended
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May 01, 2021
Share-based Payment Arrangement [Abstract] |
Share-Based Compensation | Share-Based Compensation The following table summarizes the share-based compensation expense recognized under all of the Company’s stock plans (in thousands):
| Three Months Ended |  |
| May 1, 2021 |  | May 2, 2020 |  |  |  |
Stock options | $ | 907 |  |  | $ | 695 |  |  |  |  |
Stock awards/units | 3,073 |  |  | 4,926 |  |  |  |  |
Employee Stock Purchase Plan | 80 |  |  | 165 |  |  |  |  |
Total share-based compensation expense | $ | 4,060 |  |  | $ | 5,786 |  |  |  |  |
Unrecognized compensation cost related to nonvested stock options and nonvested stock awards/units totaled approximately $7.1 million and $22.5 million, respectively, as of May 1, 2021. This cost is expected to be recognized over a weighted average period of 1.7 years. Annual Grants On April 13, 2021, the Company made an annual grant of 367,440 nonvested stock awards/units to its employees. Performance-Based Awards The Company has granted certain nonvested stock units subject to performance-based vesting conditions to select executive officers. Each award of nonvested stock units generally has an initial vesting period from the date of the grant through either (i) the end of the first fiscal year or (ii) the first anniversary of the date of grant, followed by annual vesting periods which may range from two-to-three years. The Company has also granted a target number of nonvested stock units to select key management, including certain executive officers. The number of shares that may ultimately vest with respect to each award may range from 0% up to 200% of the target number of shares, subject to the achievement of certain performance-based vesting conditions. Any shares that are ultimately issued are scheduled to vest at the end of the third fiscal year following the grant date. The following table summarizes the activity for nonvested performance-based units during the three months ended May 1, 2021:
| Number of Units |  | Weighted Average Grant Date Fair Value
Nonvested at January 30, 2021 | 769,632 |  |  | $ | 16.15 |
Granted | — |  |  | — |
Vested | (166,547) |  |  | 14.06 |
Forfeited | (186,714) |  |  | 21.83 |
Nonvested at May 1, 2021 | 416,371 |  |  | $ | 14.45 |
Market-Based Awards The Company has granted certain nonvested stock units subject to market-based vesting conditions to select executive officers. The number of shares that may ultimately vest will equal 0% to 150% of the target number of shares, subject to the performance of the Company’s total stockholder return (“TSR”) relative to the TSR of a select group of peer companies over a three-year period. Vesting is also subject to continued service requirements through the vesting date. The following table summarizes the activity for nonvested market-based units during the three months ended May 1, 2021:
| Number of Units |  | Weighted Average Grant Date Fair Value
Nonvested at January 30, 2021 | 509,012 |  |  | $ | 8.67 |
Granted 1 | 41,955 |  |  | 20.28 |
Vested 1 | (125,822) |  |  | 20.28 |
Nonvested at May 1, 2021 | 425,145 |  |  | $ | 6.38 |
____________________________________________________________________ Notes: 1 As a result of the achievement of certain market-based vesting conditions, there were 41,955 shares that vested in addition to the original target number of shares granted in fiscal 2019.

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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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