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Share-Based Compensation | 3 Months Ended
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May 02, 2026
Share-Based Compensation |
Share-Based Compensation | Note 13 Share-Based Compensation The Company recognized share-based compensation expense of $2.7 million and $2.8 million during the thirteen weeks ended May 2, 2026 and May 3, 2025, respectively. The Company had net repurchases of 118,147 and net issuances of 483,778 shares of common stock during the thirteen weeks ended May 2, 2026 and May 3, 2025, respectively, for restricted stock grants, stock performance awards issued to employees and common and restricted stock grants issued to non-employee directors, net of forfeitures and shares withheld to satisfy the tax withholding requirement. Restricted Stock The following table summarizes restricted stock activity for the periods ended May 2, 2026 and May 3, 2025: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Thirteen Weeks Ended | ​ | ​ | ​ | ​ | Thirteen Weeks Ended
​ | ​ | May 2, 2026 | ​ | ​ | ​ | ​ | May 3, 2025
​ | ​ | ​ | ​ | ​ | Weighted- | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted-
​ | ​ | Total Number | ​ | ​ | Average | ​ | ​ | ​ | ​ | Total Number | ​ | ​ | Average
​ | ​ | of Restricted | ​ | ​ | Grant Date | ​ | ​ | ​ | ​ | of Restricted | ​ | ​ | Grant Date
​ | ​ ​ ​ | Shares | ​ ​ ​ | ​ | Fair Value | ​ ​ ​ | ​ | ​ | ​ ​ ​ | Shares | ​ ​ ​ | ​ | Fair Value
Nonvested at January 31, 2026 | ​ | 1,288,190 | ​ | $ | 22.29 | ​ | ​ | Nonvested at February 1, 2025 | ​ | 1,141,319 | ​ | $ | 27.60
Granted | ​ | — | ​ | ​ | — | ​ | ​ | Granted | ​ | 748,063 | ​ | ​ | 17.18
Forfeited | ​ | (19,555) | ​ | ​ | 22.30 | ​ | ​ | Forfeited | ​ | (71,329) | ​ | ​ | 24.95
Vested |  | (331,726) |  | ​ | 28.91 |  | ​ | Vested |  | (463,989) |  | ​ | 22.06
Nonvested at May 2, 2026 |  | 936,909 | ​ | $ | 19.94 | ​ | ​ | Nonvested at May 3, 2025 |  | 1,354,064 | ​ | $ | 23.88
​ The Company did not grant any restricted shares during the thirteen weeks ended May 2, 2026. The Company granted 748,063 restricted shares during the thirteen weeks ended May 3, 2025, which have a graded vesting term of three years, with 50% vesting after two years and 50% after three years. Performance Awards During the thirteen weeks ended May 2, 2026, the Company granted performance share awards for a targeted 456,681 shares, with a weighted-average grant date fair value of $11.45 in connection with the 2026 performance award (2026-2028 performance period). At the end of the vesting period, the employee will have earned an amount of shares or units between 0% and 200% of the targeted award, depending on the attainment of certain financial goals for the service period and individual achievement of strategic initiatives over the cumulative period of the award. The performance awards are payable in common stock for up to 100% of the targeted award and the remainder in cash if any portion exceeds the targeted award. Compensation expense is recognized based on the fair value of the award and the anticipated number of shares or units to be awarded for each tranche in accordance with the vesting schedule of the units over the three-year service period. The Company granted no performance share awards during the thirteen weeks ended May 3, 2025. During the thirteen weeks ended May 3, 2025, the Company granted long-term incentive awards payable in cash for the 2025-2027 performance period, with a target value of $6.7 million and a maximum value of $13.4 million. This award, which vests after a three-year period, is dependent upon the attainment of certain financial goals of the Company for each of the three years and individual achievement of strategic initiatives over the cumulative period of the award. The estimated cash liability, which is reflected within other liabilities on the consolidated balance sheet as of May 3, 2025, is being accrued over the three-year service period. Stock Price Incentive Awards During the thirteen weeks ended May 2, 2026, the Company granted one-time stock price incentive (“SPI”) awards, payable in cash, to certain executives, with a total target value of $5.9 million. The SPI awards are based upon achievement of certain average stock price levels of the Company’s common shares for a defined period. Earned awards are payable in increments over a three-year performance period. The estimated cash liability of this award, which is reflected within other liabilities on the consolidated balance sheet as of May 2, 2026, is being accrued over the three-year service period. Restricted Stock Units for Non-Employee Directors Equity-based grants may be made to non-employee directors in the form of restricted stock units ("RSUs") payable in cash or common stock at no cost to the non-employee director. The RSUs are subject to a vesting requirement (usually one year) and earn dividend equivalents at the same rate as dividends on the Company’s common stock. The dividend equivalents, which vest immediately, are automatically reinvested in additional RSUs. Expense related to the initial grant of RSUs is recognized ratably over the vesting period based upon the fair value of the RSUs. The RSUs payable in cash are remeasured at the end of each period. Expense for the dividend equivalents is recognized at fair value when the dividend equivalents are granted. Gains and losses resulting from changes in the fair value of the RSUs payable in cash subsequent to the vesting period and through the settlement date are recognized in the Company’s condensed consolidated statements of earnings. The Company granted 2,979 RSUs with weighted-average grant date fair value of $12.52 during the thirteen weeks ended May 2, 2026 and 1,885 RSUs with weighted-average grant date fair value of $15.64, for dividend equivalents.

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