Stock-Based Compensation

9 Months Ended

Oct. 29, 2017

7. 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 grant date 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 October 29, 2017 was $0.6 million and $1.2 million, respectively, and during the three and nine months ended October 30, 2016 was $0.4 million and $1.0 million, respectively. The Company’s total stock compensation expense is included in selling, general and administrative expenses on the Condensed Consolidated Statements of Operations.

A summary of the activity in the Company’s unvested restricted stock during the nine months ended October 29, 2017 is as follows:


		Weighted
		average
		fair value
	Shares	per share
Outstanding at January 29, 2017	794,712	$	4.34
Granted	109,735		19.56
Vested	(311,933)		2.71
Forfeited	(21,294)		22.31
Outstanding at October 29, 2017	571,220	$	6.76

At October 29, 2017, the Company had unrecognized compensation expense of $2.5 million related to the restricted stock awards, which is expected to be recognized over a weighted average period of 1.8 years.