(10) Stock-Based Compensation

Stock-Based Compensation

During the 13 weeks ended April 30, 2016 and May 2, 2015, the Company recognized total stock-based compensation expense of $625 and $597, respectively. Compensation expense related to the Company's stock-based payment awards is recognized in selling, general, and administrative expenses in the consolidated statements of operations.

Employee Stock Plans

As of April 30, 2016, the number of shares available for awards under the 2013 Performance Incentive Plan (the “2013 Plan”) was 1,514,765. As of April 30, 2016, there were 622,567 awards outstanding under the 2013 Plan.

Nonvested Restricted Stock Awards

During the 13 weeks ended April 30, 2016, the Company issued 161,988 nonvested stock awards to employees at a weighted average grant date fair value of $11.25 per share. The nonvested stock awards issued to employees vest over three years, with one third vesting on each grant date anniversary.

As of April 30, 2016, the Company had $1,822 remaining in unrecognized compensation costs related to nonvested restricted stock awards. The weighted average grant date fair value of the outstanding shares was $11.25. The expected net tax benefit related to the unrecognized compensation costs was $696. The Company had no net share settlements in the 13 weeks ended April 30, 2016.

The following table sets forth the rollforward of outstanding nonvested stock awards (shares and per share amounts are not in thousands):

			Weighted
			average
			grant-date
	Shares		fair value
Balance at January 30, 2016		—	$	—
Grants		161,988		11.25
Forfeitures		—		—
Vested		—		—
Balance at April 30, 2016		161,988	$	11.25

Nonvested Performance-Based Stock Awards

During the 13 weeks ended April 30, 2016, the Company issued 159,390 nonvested performance-based stock awards to employees at a weighted average grant date fair value of $11.25 per share. The nonvested performance-based stock awards issued to employees vest over three years with one third vesting on each grant date anniversary. The number of shares issued is contingent on management achieving a fiscal year 2016 performance target for same store sales and return on invested capital for new stores. If minimum threshold performance targets are not achieved, no shares will be vested. The maximum number of shares subject to the award is 159,390 as reported above, and the "target" number of shares subject to the award is 106,262, which is two-thirds of the maximum number. Following the end of the performance period (fiscal year 2016), the number of shares eligible to vest, based on actual performance, will be fixed and vesting will then be subject to each employee’s continued employment over the remaining service period. The issued shares represent management’s estimate of the most likely outcome of the performance conditions to be achieved for the performance period. If management’s assessment of the most likely outcome of the levels of performance conditions to be achieved changes, the number of issued shares will be revised accordingly.

As of April 30, 2016, the Company had $1,793 remaining in unrecognized compensation costs related to nonvested restricted stock awards. The weighted average grant date fair value of the outstanding shares was $11.25. The expected net tax benefit related to the unrecognized compensation costs was $685. The Company had no net share settlements in the 13 weeks ended April 30, 2016.

The following table sets forth the rollforward of outstanding nonvested performance-based stock awards (shares and per share amounts are not in thousands):

			Weighted
			average
			grant-date
	Shares		fair value
Balance at January 30, 2016		—	$	—
Grants		159,390		11.25
Forfeitures		—		—
Vested		—		—
Balance at April 30, 2016		159,390	$	11.25

Nonvested Stock Unit Awards

During the 13 weeks ended April 30, 2016, the Company issued no nonvested stock units to employees. During the 13 weeks ended May 2, 2015, the Company issued 3,740 nonvested stock units to employees at a weighted average grant date fair value of $9.56 per share. The nonvested stock units issued to employees vest over four years with one fourth vesting on each grant date anniversary.

As of April 30, 2016 and May 2, 2015, respectively, the Company had $2,152 and $4,207 remaining in unrecognized compensation costs related to nonvested restricted stock units. The weighted average grant date fair value of the outstanding shares was $7.14 and $7.07, respectively. The expected net tax benefit related to the unrecognized compensation costs were $822 and $1,620, respectively.

The Company had no net share settlements in the 13 weeks ended April 30, 2016 and May 2, 2015, respectively.

The following table sets forth the rollforward of outstanding nonvested stock units (shares and per share amounts are not in thousands):

			Weighted
			average
			grant-date
	Shares		fair value
Balance at January 30, 2016		598,697	$	7.15
Grants		—		—
Forfeitures		—		—
Vested		297,508		7.16
Balance at April 30, 2016		301,189	$	7.14

			Weighted
			average
			grant-date
	Shares		fair value
Balance at January 31, 2015		887,853	$	7.06
Grants		3,740		9.56
Forfeitures		2,009		7.06
Vested		293,726		7.06
Balance at May 2, 2015		595,858	$	7.07