XML 41 R13.htm IDEA: XBRL DOCUMENT
v3.19.2

Stock-Based Compensation | 6 Months Ended
--- | ---
Aug. 02, 2019
Share-based Payment Arrangement [Abstract] |
Share-based Payment Arrangement [Text Block] | STOCK-BASED COMPENSATION The Company expenses the fair value of all stock awards over their respective vesting periods, ensuring that, the amount of cumulative compensation cost recognized at any date is at least equal to the portion of the grant-date fair value of the award that is vested at that date. The Company has elected to adjust compensation expense for an estimated forfeiture rate for those shares not expected to vest and to recognize compensation cost on a straight-line basis for awards that only have a service requirement with multiple vest dates. The Company has granted the following types of stock awards to employees at management levels and above:
i. | Time vesting stock awards ("Deferred Awards") are in the form of restricted stock units and only require each recipient to complete a service period for the award to be earned. Deferred Awards generally vest over three years. The fair value of Deferred Awards is based on the closing price of the Company's common stock on the grant date and is reduced for estimated forfeitures of those awards not expected to vest due to employee turnover.
ii. | Performance-based stock awards ("Performance Awards") are in the form of restricted stock units and have, in addition to a service requirement, performance criteria that must be achieved for the awards to be earned. For Performance Awards granted in Fiscal 2018 and after, the Target Shares earned can range from 50% to 200% once minimum thresholds have been reached, and depend on the achievement of Adjusted EBITDA and revenue performance measures for the cumulative three-fiscal year performance period beginning in the fiscal year of the grant date. The applicable percentage of the Target Shares, as determined by performance, vest after the completion of the applicable three year performance period, and unearned Target Shares are forfeited. The fair value of the Performance Awards granted in Fiscal 2018 and after are based on the closing price of the Company’s common stock on the grant date. Stock based compensation expense is recognized ratably over the related service period, reduced for estimated forfeitures of those awards not expected to vest due to employee turnover, and adjusted based on the Company's estimate of the percentage of the aggregate Target Shares expected to be earned. Based on performance to date, the Company is currently accruing for Performance Awards based on a 100% payout, which is reflected in the financial information below.
iii. | Stock option awards ("Option Awards") provide the recipient with the option to purchase a set number of shares at a stated exercise price over the term of the contract, which is ten years for all Option Awards currently outstanding. Options are granted with a strike price equal to the stock price on the date of grant and vest ratably over a four year period.
The following table provides a summary of the Company's stock-based compensation expense, which is included in Selling and administrative expense in the Condensed Consolidated Statements of Operations:
|  | 13 Weeks Ended |  | 26 Weeks Ended
(in thousands) |  | August 2, 2019 |  | August 3, 2018 |  | August 2, 2019 |  | August 3, 2018
Deferred Awards |  | $ | 1,531 |  |  | $ | 1,231 |  |  | $ | 2,896 |  |  | $ | 1,940 |
Performance Awards |  | 611 |  |  | 312 |  |  | 1,033 |  |  | 382 |
Option Awards |  | 187 |  |  | 187 |  |  | 374 |  |  | 374 |
Total stock-based compensation expense |  | $ | 2,329 |  |  | $ | 1,730 |  |  | $ | 4,303 |  |  | $ | 2,696 |
The following table provides a summary of the Deferred Awards activity for Year-to-Date 2019:
|  | Deferred Awards
(in thousands, except per share amounts) |  | Number of Shares |  | Weighted Average Grant Date Fair Value per Share
Unvested as of February 1, 2019 |  | 594 |  |  | $ | 21.96 |
Granted |  | 412 |  |  | 15.71 |
Vested |  | (194 | ) |  | 22.27 |
Forfeited or expired |  | (32 | ) |  | 21.13 |
Unvested as of August 2, 2019 |  | 780 |  |  | 18.57 |
Total unrecognized stock-based compensation expense related to unvested Deferred Awards was approximately $10.3 million as of August 2, 2019, which is expected to be recognized ratably over a weighted average period of 2.0 years. Deferred Awards granted to employees during Fiscal 2019 generally vest ratably over a period of three years. The following table provides a summary of the Performance Awards activity for Year-to-Date 2019:
|  | Performance Awards
(in thousands, except per share amounts) |  | Number of Shares |  | Weighted Average Grant Date Fair Value per Share
Unvested as of February 1, 2019 |  | 176 |  |  | $ | 21.93 |
Granted |  | 265 |  |  | 15.73 |
Vested |  | — |  |  | — |
Forfeited or expired |  | (13 | ) |  | 19.58 |
Unvested as of August 2, 2019 |  | 428 |  |  | 18.18 |
Total unrecognized stock-based compensation expense related to unvested Performance Awards was approximately $5.2 million as of August 2, 2019, which is expected to be recognized ratably over a weighted average period of 2.3 years. Performance Awards granted to employees during Fiscal 2019 vest, if earned, after completion of the applicable three-year performance period. The following table provides a summary of the Options Award activity for Year-to-Date 2019:
|  | Option Awards
(in thousands, except per share amounts) |  | Number of Shares |  | Weighted Average Grant Date Fair Value per Share
Unvested as of February 1, 2019 |  | 257 |  |  | $ | 8.73 |
Granted |  | — |  |  | — |
Vested |  | (86 | ) |  | 8.73 |
Forfeited or expired |  | — |  |  | — |
Unvested as of August 2, 2019 |  | 171 |  |  | 8.73 |
Total unrecognized stock-based compensation expense related to unvested Option Awards was approximately $1.2 million as of August 2, 2019, which is expected to be recognized ratably over a weighted average period of 1.6 years. The Option Awards have a life of ten years and vest ratably over the first four years. The fair value of each Option Award was estimated on the grant date using the Black-Scholes option pricing model. As of August 2, 2019, 171,568 shares related to Option Awards were exercisable. No options have been exercised as of August 2, 2019.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration