XML 31 R20.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Share-Based Compensation
 6 Months Ended
Aug. 03, 2024
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
Our share-based compensation expense, by award type, consists of the following (in thousands):
Three Months EndedSix Months Ended
August 3, 2024July 29, 2023August 3, 2024July 29, 2023
Restricted stock units$653 $491 $1,289 $1,131 
Restricted stock awards36 755 72 1,700 
Performance stock units(63)106 82 387 
Stock options490 280 885 715 
Restricted cash units1,067 246 1,435 357 
Employee stock purchase plan5 30 83 106 
Share-based compensation before income taxes2,188 1,908 3,846 4,396 
Income tax detriment (benefit)277 (114)765 (422)
Net share-based compensation expense$2,465 $1,794 $4,611 $3,974 
RSUs
Restricted stock unit (“RSU”) activity, including performance-based stock units (“PSUs”), consists of the following (in thousands, except per share amounts):
SharesWeighted average grant date fair value per share
Nonvested, February 3, 20241,953 $4.14 
Granted510 $4.98 
Vested(401)$4.86 
Forfeited(356)$3.06 
Nonvested, August 3, 20241,706 $4.45 
As of the end of the second quarter of fiscal year 2024, unrecognized compensation expense related to unvested RSUs, including PSUs, was $5.7 million, which is expected to be recognized over a weighted average period of approximately 2.5 years.
Restricted Stock Awards
Restricted stock award activity consists of the following (in thousands, except per share amounts):
SharesWeighted average grant date fair value per share
Nonvested, February 3, 20245 $27.00 
Granted— 
Vested(2)$27.00 
Forfeited— 
Nonvested, August 3, 20243 $27.00 
As of the end of the second quarter of fiscal year 2024, unrecognized compensation expense related to unvested restricted stock awards was $0.1 million, which is expected to be recognized over a weighted average period of approximately 0.4 years.
Stock Options
Stock option activity consists of the following (in thousands, except per share and contractual life amounts):
SharesWeighted average exercise price per shareWeighted average remaining contractual life (years)Aggregate intrinsic value
Outstanding, February 3, 20242,352 $4.98 
Granted841 $4.84 
Exercised(60)$3.87 
Forfeited(249)$5.24 
Outstanding, August 3, 20242,884 $4.94 8.58$9,455 
Exercisable, August 3, 2024634 $6.51 7.43$1,845 
As of the end of the second quarter of fiscal year 2024, unrecognized compensation expense related to unvested stock options was $5.2 million, which is expected to be recognized over a weighted average period of approximately 2.9 years.
RCUs
Restricted cash units (“RCUs”) are awarded to certain employees, non-employee directors and consultants and represent the right to receive a cash payment at the end of a vesting period, subject to the employee’s continued employment or service as a director or consultant. In general, RCUs vest in equal installments each year over 4 years. RCUs are cash-settled with the value of each vested RCU equal to the lower of the closing price per share of our common stock on the vesting date or a specified per share price cap. We determined that RCUs are in-substance liabilities accounted for as liability instruments in accordance with ASC 718, Compensation—Stock Compensation, due to this cash settlement feature. RCUs are remeasured based on the closing price per share of our common stock at the end of each reporting period. As of the end of the second quarter of fiscal year 2024, the liability associated with unvested RCUs was $1.3 million, which is included in accrued and other current liabilities in the condensed consolidated balance sheet.