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Stock-Based Compensation | 6 Months Ended
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Jul. 30, 2023
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 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 was $1.3 million and $2.3 million for the three and six months ended July 30, 2023, 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 six months ended July 30, 2023 is as follows:
|  |  |  |  | Weighted
|  |  |  |  | average
|  |  |  |  | fair value
|  |  | Shares |  | per share
Outstanding at January 29, 2023 |  |  | 618,772 |  | $ | 12.05
Granted |  |  | 1,155,145 |  |  | 6.51
Vested |  |  | (161,732) |  |  | 12.24
Forfeited |  |  | (13,179) |  |  | 11.05
Outstanding at July 30, 2023 |  |  | 1,599,006 |  | $ | 8.29
At July 30, 2023, the Company had unrecognized compensation expense of $10.0 million related to the restricted stock awards, which is expected to be recognized over a weighted average period of 2.6 years.

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