XML 29 R17.htm IDEA: XBRL DOCUMENT v3.24.3
STOCK-BASED COMPENSATION
 9 Months Ended
Nov. 02, 2024
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
The Company generally grants time-vesting stock awards (“Deferred Awards”) and performance-based stock awards (“Performance Awards”) to employees at management levels. The Company also grants Deferred Awards to its non-employee directors.
The following table summarizes the Company’s stock-based compensation expense (benefit):
 Thirteen Weeks EndedThirty-nine Weeks Ended
 November 2,
2024		October 28,
2023		November 2,
2024		October 28,
2023
(in thousands)
Deferred Awards$282 $1,193 $2,110 $5,383 
Performance Awards
(261)(5,939)9,272 (11,807)
Total stock-based compensation expense (benefit) (1)
$21 $(4,746)$11,382 $(6,424)
___________________________________________
(1)Stock-based compensation expense (benefit) recorded within Cost of sales amounted to a benefit of $(0.3) million and an expense of $0.1 million in the Third Quarter 2024 and Third Quarter 2023, respectively, and an expense of $0.9 million in Year-To-Date 2024. All other stock-based compensation expense (benefit) is included in Selling, general, and administrative expenses.
During the First Quarter 2024, there was a change of control of the Company, which triggered a conversion of all Performance Awards into service-based Performance Awards in accordance with their terms. As a result, the Fiscal 2023, Fiscal 2022, and fiscal year 2021 Performance Awards will all vest at their target shares on their respective vesting dates without regard to the achievement of any of the performance metrics associated with those awards. The fiscal year 2021 Performance Awards vested during the First Quarter 2024. The incremental expense recorded for Performance Awards during Year-To-Date 2024 due to the change of control was $9.9 million.