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Share-Based Compensation | 6 Months Ended
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Aug. 02, 2025
Share-Based Payment Arrangement [Abstract] |
Share-Based Compensation | Share-Based Compensation The following summarizes the share-based compensation expense recognized under all of the Company’s stock plans (in thousands):
| Three Months Ended |  | Six Months Ended
| Aug 2, 2025 |  | Aug 3, 2024 |  | Aug 2, 2025 |  | Aug 3, 2024
Stock awards/units | $ | 5,329 |  |  | $ | 4,307 |  |  | $ | 10,796 |  |  | $ | 8,907 |
Employee Stock Purchase Plan | 58 |  |  | 8 |  |  | 117 |  |  | 99 |
Total share-based compensation expense | $ | 5,387 |  |  | $ | 4,315 |  |  | $ | 10,913 |  |  | $ | 9,006 |
As of August 2, 2025, there was no unrecognized compensation cost related to nonvested stock options and approximately $43.5 million of unrecognized compensation cost related to nonvested stock awards/units. This cost is expected to be recognized over a weighted average period of 1.9 years. Upon closing of the Proposed Transaction, effectively all outstanding and unvested equity awards, other than certain awards held by the Rolling Stockholders (which will be determined based on the existing terms of each such award), will fully accelerate and then be paid out in cash, without interest and less any required tax withholding, and cancelled. Equity Award Grants On April 10, 2025, the Company granted 284,900 nonvested stock awards/units to its employees. On July 17, 2025, the Company granted 740,794 nonvested stock units to certain of its executive employees. These nonvested stock units are subject to certain performance-based or market-based vesting conditions. 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 following summarizes the activity for nonvested performance-based units during the six months ended August 2, 2025:
| Number of Units |  | Weighted Average Grant Date Fair Value
Nonvested at February 1, 2025 | 348,038 |  |  | $ | 18.84 |
Granted | 342,727 |  |  | $ | 13.13 |
Vested | (39,083) |  |  | $ | 19.19 |
Forfeited | (117,249) |  |  | $ | 19.19 |
Nonvested at August 2, 2025 | 534,433 |  |  | $ | 15.08 |
Market-Based Awards The Company has granted certain nonvested stock units subject to market-based vesting conditions to select executive officers. These market-based awards include (i) units where 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 and (ii) units scheduled to vest based on the attainment of certain absolute stock price levels over a four-year period. Vesting is also subject to continued service requirements through the vesting date. The following summarizes the activity for nonvested market-based units during the six months ended August 2, 2025:
| Number of Units |  | Weighted Average Grant Date Fair Value
Nonvested at February 1, 2025 | 783,587 |  |  | $ | 20.18 |
Granted | 398,067 |  |  | $ | 11.89 |
Vested | (47,054) |  |  | $ | 14.66 |
Forfeited | (409,791) |  |  | $ | 21.16 |
Nonvested at August 2, 2025 | 724,809 |  |  | $ | 15.43 |

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