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Stock-Based Compensation
9 Months Ended
Nov. 01, 2015
Stock-Based Compensation [Abstract]  
Stock-Based Compensation

8    STOCK-BASED COMPENSATION

The Company accounts for its stock-based compensation plan in accordance with ASC 718, Stock Compensation, which requires the Company to measure all share based payments at fair value and recognize the cost over the requisite service period of the award.

Total stock compensation expense associated with restricted stock recognized by the Company during the three and nine months ended November 1, 2015 was $0.17 million and $0.50 million, respectively. Total stock compensation expense associated with restricted stock recognized by the Company during the three and nine months ended November 2, 2014 was $0.02 million and $0.05 million, respectively.

A summary of the activity in the Company’s non-vested restricted stock during the nine months ended November 1, 2015 is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

average

 

 

 

 

 

fair value

 

 

 

Shares

 

per share

Outstanding at February 1, 2015

 

 

246,708 

 

$

1.67 

 Granted

 

 

564,438 

 

 

3.35 

Outstanding at November 1, 2015

 

 

811,146 

 

$

2.84 

At November 1, 2015, the Company has unrecognized compensation expense of $1.7 million related to the restricted stock awards, which is expected to be recognized over a weighted average period of 2.7 years.