(10) Stock-Based Compensation

Stock-Based Compensation

During the 13 weeks ended July 29, 2017 and July 30, 2016, the Company recognized total stock-based compensation expense of $399 and $933, respectively. During the 26 weeks ended July 29, 2017 and July 30, 2016, the Company recognized total stock-based compensation expense of $1,052 and $1,558, respectively. Compensation expense related to the Company's stock-based payment awards is recognized in selling, general, and administrative expenses in the condensed consolidated Statements of Operations.

Employee Stock Plans

As of July 29, 2017, the number of shares available for awards under the 2013 Performance Incentive Plan (the “2013 Plan”) was 1,392. As of July 29, 2017, there were 609 awards outstanding under the 2013 Plan.

Employee Stock Purchase Plan

The Company also has an Employee Stock Purchase Plan (“ESPP”) that was approved by shareholders in fiscal year 2015, under which 800 shares of common stock have been authorized. Shares are issued under the ESPP twice yearly at the end of each offering period. For the period ended July 29, 2017, 51 shares were issued under this plan and the number of shares available for issuance was 690.

Nonvested Restricted Stock Awards

During the 13 and 26 weeks ended July 29, 2017, the Company did not issue any nonvested restricted stock awards to employees.

During the 13 and 26 weeks ended July 30, 2016, the Company did not issue any nonvested restricted stock awards to employees. During the 26 weeks ended July 30, 2016, the Company issued 162 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.

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


		Weighted
		average
		grant-date
	Shares	fair value
Balance at January 28, 2017	162	$	11.25
Grants	—		—
Forfeitures	—		—
Vested	54		11.25
Balance at July 29, 2017	108	$	11.25

		Weighted
		average
		grant-date
	Shares	fair value
Balance at January 30, 2016	—		—
Grants	162		11.25
Forfeitures	—		—
Vested	—		—
Balance at July 30, 2016	162	$	11.25

Nonvested Performance-Based Stock Awards

During the 13 and 26 weeks ended July 29, 2017, the Company did not issue any nonvested performance-based stock awards to employees.

During the 13 weeks ended July 30, 2016, the Company did not issue any nonvested performance-based stock awards to employees. During the 26 weeks ended July 30, 2016, the Company issued 159 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 was contingent on management achieving a fiscal year 2016 performance target for same store sales and return on invested capital for new stores. Based on the performance conditions met for 2016, the finalized granted awards was 73.

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


		Weighted
		average
		grant-date
	Shares	fair value
Balance at January 28, 2017	73	$	11.25
Grants	—		—
Forfeitures	—		—
Vested	24		11.25
Balance at July 29, 2017	49	$	11.25

Nonvested Stock Unit Awards

During the 13 weeks ended July 29, 2017, the Company issued 284 nonvested stock units to employees and independent members of the Board of Directors of the Company at an average value of $5.38 per share. During the 26 weeks ended July 29, 2017, the Company issued 456 nonvested stock units to employees of the Company at an average value of $5.09 per share. The shares issued to the independent members of the Board of Directors vest over 12 months with one twelfth vesting each month from the grant date. The shares issued to employees of the Company vest over a three year period with one third of the shares vesting on each grant date anniversary.

During the 13 weeks and 26 weeks ended July 30, 2016, the Company issued 29 nonvested stock units to independent members of the Board of Directors at a value of $9.81 per share. These nonvested stock units vest over 12 months with one twelfth vesting each month from the grant date.

The Company had no net share settlements in the 13 weeks ended July 29, 2017 and July 30, 2016.

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


		Weighted
		average
		grant-date
	Shares	fair value
Balance at January 28, 2017	301	$	7.17
Grants	456		5.09
Forfeitures	1		7.06
Vested	308		7.08
Balance at July 29, 2017	448	$	5.12

		Weighted
		average
		grant-date
	Shares	fair value
Balance at January 30, 2016	599	$	7.15
Grants	29		9.81
Forfeitures	4		7.04
Vested	306		7.26
Balance at July 30, 2016	318	$	7.29