Stock-Based Compensation

6 Months Ended

Aug. 02, 2025

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Note 6 - Stock-Based Compensation

Stock-based compensation includes share-settled awards issued pursuant to the Shoe Carnival, Inc. Amended and Restated 2017 Equity Incentive Plan in the form of restricted stock units, performance stock units, and restricted and other stock awards. Additionally, we recognize stock-based compensation expense for the discount on shares sold to employees through our Employee Stock Purchase Plan and for cash-settled stock appreciation rights. For the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024, stock-based compensation expense was comprised of the following:


(In thousands)	Thirteen Weeks Ended August 2, 2025			Thirteen Weeks Ended August 3, 2024			Twenty-six Weeks Ended August 2, 2025			Twenty-six Weeks Ended August 3, 2024
Share-settled equity awards	$	2,091		$	1,774		$	3,629		$	3,303
Stock appreciation rights		0			0			0			221
Employee Stock Purchase Plan		9			43			17			50
Total stock-based compensation expense	$	2,100		$	1,817		$	3,646		$	3,574
Income tax effect at statutory rates	$	(511	)	$	(442	)	$	(887	)	$	(869	)
Additional income tax expense (benefit) on vesting of share-settled awards	$	14		$	0		$	469		$	(109	)

As of August 2, 2025, approximately $13.2 million of unrecognized compensation expense remained related to our share-settled equity awards. The cost is expected to be recognized over a weighted average period of approximately 1.8 years.

Share-Settled Equity Awards

The following table summarizes transactions for our restricted stock units and performance stock units:


	Number of Shares			Weighted- Average Grant Date Fair Value
Outstanding at February 1, 2025		695,259		$	29.71
Granted		416,031			21.64
Vested		(259,725	)		28.79
Forfeited		(59,113	)		29.47
Outstanding at August 2, 2025		792,452		$	25.80

The total fair value at grant date of restricted stock units and performance stock units that vested during the twenty-six weeks ended August 2, 2025 and August 3, 2024 was $7.5 million and $1.4 million, respectively. The weighted-average grant date fair value of restricted stock units and performance stock units granted during the twenty-six weeks ended August 3, 2024 was $32.06.

The following table summarizes transactions for our restricted stock and other stock awards:


	Number of Shares			Weighted- Average Grant Date Fair Value
Outstanding at February 1, 2025		0		$	0.00
Granted		34,488			18.85
Vested		(5,306	)		18.85
Forfeited		0			0.00
Outstanding at August 2, 2025		29,182		$	18.85

The total fair value at grant date of restricted stock and other stock awards that vested during the twenty-six weeks ended August 2, 2025 was $100,000. No restricted stock or other stock awards vested during the twenty-six weeks ended August 3, 2024. The weighted-average grant date fair value of restricted stock awards granted during the twenty-six weeks ended August 3, 2024 was $36.84.