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Share-Based Compensation | 9 Months Ended
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Nov. 02, 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 Ended | Nine Months Ended
| November 2, 2024 |  | October 28, 2023 | November 2, 2024 |  | October 28, 2023
Restricted stock units | $ | 411 |  |  | $ | 599 |  | $ | 1,700 |  |  | $ | 1,730 |
Restricted stock awards | 36 |  |  | 279 |  | 108 |  |  | 1,979 |
Performance stock units | 21 |  |  | 156 |  | 103 |  |  | 543 |
Stock options | 414 |  |  | 389 |  | 1,299 |  |  | 1,104 |
Restricted cash units | (264) |  |  | 82 |  | 1,171 |  |  | 439 |
Employee stock purchase plan | 67 |  |  | 80 |  | 150 |  |  | 186 |
Share-based compensation before income taxes | 685 |  |  | 1,585 |  | 4,531 |  |  | 5,981 |
Income tax detriment (benefit) | 215 |  |  | 299 |  | 980 |  |  | (123) |
Net share-based compensation expense | $ | 900 |  |  | $ | 1,884 |  | $ | 5,511 |  |  | $ | 5,858 |
RSUs Restricted stock unit (“RSU”) activity, including performance-based stock units (“PSUs”), consists of the following (in thousands, except per share amounts):
| Shares |  | Weighted average grant date fair value per share
Nonvested, February 3, 2024 | 1,953 |  |  | $ | 4.14 |
Granted | 621 |  |  | $ | 4.74 |
Vested | (477) |  |  | $ | 4.88 |
Forfeited | (588) |  |  | $ | 3.75 |
Nonvested, November 2, 2024 | 1,509 |  |  | $ | 4.31 |
As of the end of the third quarter of fiscal year 2024, unrecognized compensation expense related to unvested RSUs, including PSUs, was $4.6 million, which is expected to be recognized over a weighted average period of approximately 2.3 years. Restricted Stock Awards Restricted stock award activity consists of the following (in thousands, except per share amounts):
| Shares |  | Weighted average grant date fair value per share
Nonvested, February 3, 2024 | 5 |  |  | $ | 27.00 |
Granted | — |  |  |
Vested | (4) |  |  | $ | 27.00 |
Forfeited | — |  |  |
Nonvested, November 2, 2024 | 1 |  |  | $ | 27.00 |
As of the end of the third quarter of fiscal year 2024, unrecognized compensation expense related to unvested restricted stock awards was not material and is expected to be recognized over the weighted-average period of approximately two months. Stock Options Stock option activity consists of the following (in thousands, except per share and contractual life amounts):
| Shares |  | Weighted average exercise price per share |  | Weighted average remaining contractual life (years) |  | Aggregate intrinsic value
Outstanding, February 3, 2024 | 2,352 |  |  | $ | 4.98 |  |  |  |  |
Granted | 1,042 |  |  | $ | 4.60 |  |  |  |  |
Exercised | (102) |  |  | $ | 3.61 |  |  |  |  |
Forfeited | (509) |  |  | $ | 4.75 |  |  |  |  |
Outstanding, November 2, 2024 | 2,783 |  |  | $ | 4.93 |  |  | 8.35 |  | $ | 530 |
Exercisable, November 2, 2024 | 710 |  |  | $ | 6.31 |  |  | 6.95 |  | $ | 139 |
As of the end of the third quarter of fiscal year 2024, unrecognized compensation expense related to unvested stock options was $4.6 million, which is expected to be recognized over a weighted average period of approximately 2.8 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 third quarter of fiscal year 2024, the liability associated with unvested RCUs was $1.0 million, which is included in accrued and other current liabilities in the condensed consolidated balance sheets.

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