Stock-Based Compensation

9 Months Ended

Nov. 01, 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 thirty-nine weeks ended November 1, 2025 and November 2, 2024, stock-based compensation expense was comprised of the following:


(In thousands)	Thirteen Weeks Ended November 1, 2025			Thirteen Weeks Ended November 2, 2024			Thirty-nine Weeks Ended November 1, 2025			Thirty-nine Weeks Ended November 2, 2024
Share-settled equity awards	$	2,011		$	1,623		$	5,640		$	4,926
Stock appreciation rights		0			0			0			221
Employee Stock Purchase Plan		7			7			24			57
Total stock-based compensation expense	$	2,018		$	1,630		$	5,664		$	5,204
Income tax effect at statutory rates	$	(491	)	$	(397	)	$	(1,377	)	$	(1,266	)
Additional income tax (benefit) expense on vesting of share-settled awards	$	(3	)	$	0		$	466		$	(109	)

As of November 1, 2025, approximately $10.9 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 1.6 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		436,031			21.61
Vested		(259,725	)		28.79
Forfeited		(59,113	)		29.47
Outstanding at November 1, 2025		812,452		$	25.68

The total fair value at grant date of restricted stock units and performance stock units that vested during the thirty-nine weeks ended November 1, 2025 and November 2, 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 thirty-nine weeks ended November 2, 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 November 1, 2025		29,182		$	18.85

The total fair value at grant date of restricted stock and other stock awards that vested during the thirty-nine weeks ended November 1, 2025 was $100,000. No restricted stock or other stock awards vested during the thirty-nine weeks ended November 2, 2024. The weighted-average grant date fair value of restricted stock awards granted during the thirty-nine weeks ended November 2, 2024 was $36.84.