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Stockholders' Equity and Share-Based Compensation | 6 Months Ended
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Jul. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Stockholders' Equity and Share-Based Compensation | Stockholders' Equity and Share-Based Compensation Share issuances and repurchases The Company treats shares withheld for tax purposes on behalf of our employees in connection with the vesting of time-based and performance restricted stock units as common stock repurchases because they reduce the number of shares that would have been issued upon vesting. These were immaterial for all periods presented. On March 27, 2023, our Board of Directors approved a share repurchase program with an authorization limit of $100.0. During the twenty-six weeks ended July 30, 2023, the Company repurchased the full $100.0 authorized amount. On April 19, 2023, our Board of Directors approved an increase to the authorization limit of $200.0 for a total of $300.0 authorized under the program. During the twenty-six weeks ended July 30, 2023, the Company repurchased 5.70 million shares at an average of $35.12 per share. The remaining dollar value of shares that may be repurchased under the program is $100.0 as of July 30, 2023. The repurchase program expires at the end of fiscal 2023. Share-based compensation Our compensation expense related to share-based compensation was as follows:
| Thirteen Weeks Ended |  | Twenty-Six Weeks Ended |  |
| July 30, 2023 |  | July 31, 2022 |  | July 30, 2023 |  | July 31, 2022 |  |  |  |
General and administrative expenses | $ | 5.2 |  |  | $ | 4.7 |  |  | $ | 11.9 |  |  | $ | 8.3 |  |  |  |  |
Our share-based compensation award activity during the twenty-six weeks ended July 30, 2023 was as follows:
| Options |  | Restricted Stock Units |  | Total
Outstanding at January 29, 2023 | 0.98 |  | 1.89 |  | 2.87
Granted | 0.08 |  | 0.26 |  | 0.34
Exercised | (0.03) |  | — |  | (0.03)
RSU vestings | n/a |  | (0.23) |  | (0.23)
Forfeited | (0.05) |  | (0.13) |  | (0.18)
Outstanding at July 30, 2023 | 0.98 |  | 1.79 |  | 2.77
Remaining unrecognized compensation expense | $ | 4.6 |  |  | $ | 39.1 |  |  | $ | 43.7 |
The fair value of our time-based and performance-based restricted stock units is based on our closing stock price on the date of grant. The grant date fair value of stock options was determined using the Black-Scholes option valuation model. The grant date fair value of performance-based awards with market conditions was determined using the Monte Carlo valuation model. The unrecognized expense will all be substantially recognized by the end of fiscal 2025. During the twenty-six weeks ended July 30, 2023, the Company granted certain options, time-based, performance-based, and market-based restricted stock units to employees and directors of the Company. These grants vest over a range of one year to 5 years. Certain of the market-based restricted stock units can vest earlier if the targets are achieved prior to that time. As a result, the requisite service period for such grants was determined to be less than the explicit service period.

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