(12) Stock-Based Compensation

Stock-Based Compensation

The Company recognized total stock-based compensation expense, including expense relating to the employee stock purchase plan, of $2,294, $3,186, and $2,257, during fiscal years 2017, 2016, and 2015, 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 income. As of February 3, 2018, and January 28, 2017, respectively, the Company had $3,963 and $4,874 remaining in unrecognized compensation costs, respectively.

Employee Stock Plans

As of February 3, 2018, the number of shares available for awards under the 2013 Performance Incentive Plan (the “2013 Plan”) was 1,392. As of February 3, 2018, there were 579 awards outstanding under the 2013 Plan. All shares granted during the current year were newly issued shares. All subsequent awards were, and all future awards are expected to be, granted under the 2013 Plan.

Nonvested Restricted Stock Awards

During the fiscal year 2017, the Company did not issue any nonvested restricted stock awards to employees.

During the fiscal year 2016, the Company issued 162 nonvested restricted 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 February 3, 2018	108	$	11.25

		Weighted
		average
		grant-date
	Shares	fair value
Balance at January 30, 2016	—		—
Grants	162		11.25
Forfeitures	—		—
Vested	—		—
Balance at January 28, 2017	162	$	11.25

Nonvested Performance-Based Stock Awards

During fiscal year 2017 the Company did not issue any nonvested performance-based stock awards to employees.

During fiscal year 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 is 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 as presented in the table below.

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 February 3, 2018	49	$	11.25

		Weighted
		average
		grant-date
	Shares	fair value
Balance at January 30, 2016	—		—
Grants	73		11.25
Forfeitures	—		—
Vested	—		—
Balance at January 28, 2017	73	$	11.25

Nonvested Stock Unit Awards

During the fiscal year 2017, the Company issued 397 nonvested stock units to employees of the Company at a weighted average grant date fair value of $5.15 per share. During the fiscal year 2017, the Company issued 59 nonvested stock units to independent members of the Board of Directors at a weighted average grant date fair value of $4.73. 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 fiscal year 2016, the Company issued 29 nonvested stock units to independent members of the Board of Directors at a weighted average grant date fair 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 fiscal year 2017 or 2016.

The following table sets forth the rollforward of outstanding nonvested stock units:


		Weighted
		average
		grant-date
	Shares	fair value
Balance at January 28, 2017	301	$	7.17
Grants	456		5.09
Forfeitures	1		7.06
Vested	337		6.87
Balance at February 3, 2018	419	$	5.15

		Weighted
		average
		grant-date
	Shares	fair value
Balance at January 30, 2016	599	$	7.15
Grants	29		9.81
Forfeitures	6		7.05
Vested	321		7.37
Balance at January 28, 2017	301	$	7.17

As of February 3, 2018, and January 28, 2017, the weighted average grant date fair value of the outstanding shares were $5.15 and $7.17, respectively.