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Stock-Based Compensation (Tables) | 6 Months Ended
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Aug. 02, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Stock-Based Compensation Expense | 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, 2024 |  |  | July 28, 2023 |  |  | August 2, 2024 |  |  | July 28, 2023 |
Deferred awards |  | $ | 943 |  |  | $ | 1,242 |  |  | $ | 1,865 |  |  | $ | 2,221 |
Performance awards (1) |  |  | 385 |  |  |  | (536 | ) |  |  | 585 |  |  |  | (536 | )
Option awards |  |  | 104 |  |  |  | 104 |  |  |  | 208 |  |  |  | 208 |
Total stock-based compensation expense |  | $ | 1,432 |  |  | $ | 810 |  |  | $ | 2,658 |  |  | $ | 1,893 |
(1) Net credit expense for the 13 and 26 weeks ended July 28, 2023 includes a reduction of the accrual for Performance Awards based on actual and projected results relative to performance measures.
Summary of Deferred Awards Activity | The following table provides a summary of the Deferred Awards activity for the 26 weeks ended August 2, 2024:
|  | Deferred Awards |
(in thousands, except per share amounts) |  | Number of Shares |  |  | Weighted Average Grant Date Fair Value per Share |
Unvested Deferred Awards as of February 2, 2024 |  |  | 959 |  |  | $ | 11.44 |
Granted |  |  | 307 |  |  |  | 11.34 |
Vested |  |  | (250 | ) |  |  | 14.78 |
Forfeited or expired |  |  | (75 | ) |  |  | 10.97 |
Unvested Deferred Awards as of August 2, 2024 |  |  | 941 |  |  | $ | 10.56 |
Summary of Performance Awards Activity | The following table provides a summary of the Performance Awards activity for the 26 weeks ended August 2, 2024:
|  | Performance Awards |
(in thousands, except per share amounts) |  | Number of Shares |  |  | Weighted Average Grant Date Fair Value per Share |
Unvested Performance Awards as of February 2, 2024 |  |  | 607 |  |  | $ | 13.14 |
Granted |  |  | 264 |  |  |  | 10.30 |
Change in estimate - performance |  |  | (57 | ) |  |  | 29.95 |
Vested |  |  | — |  |  |  | — |
Forfeited or expired |  |  | (23 | ) |  |  | 12.87 |
Unvested Performance Awards as of August 2, 2024 |  |  | 791 |  |  | $ | 11.00 |
Summary of Changes in Outstanding Options Awards | The following table provides a summary of the Option Awards activity for the 26 weeks ended August 2, 2024:
|  | Option Awards |
(in thousands, except per share amounts) |  | Number of Shares |  |  | Weighted Average Grant Date Fair Value per Share |
Option Awards outstanding as of February 2, 2024 |  |  | 511 |  |  | $ | 16.08 |
Granted |  |  | — |  |  |  | — |
Exercised |  |  | — |  |  |  | — |
Forfeited |  |  | — |  |  |  | — |
Expired |  |  | (294 | ) |  |  | 18.10 |
Option Awards outstanding as of August 2, 2024 |  |  | 217 |  |  | $ | 13.34 |
Summary of Information about Option Awards Vested and Expected to Vest | The following table provides a summary of information about the Option Awards vested and expected to vest during the contractual term, as well as Option Awards exercisable as of August 2, 2024:
(in thousands, except contractual life and exercise price amounts) |  | Option Awards |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Weighted Average Exercise Price |  |  | Aggregate Intrinsic Value |
Option Awards vested and expected to vest |  |  | 217 |  |  |  | 7.02 |  |  | $ | 13.34 |  |  | $ | 854 |
Option Awards exercisable |  |  | 91 |  |  |  | 5.30 |  |  | $ | 16.84 |  |  | $ | 213 |

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