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Stock-Based Compensation | 12 Months Ended
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Feb. 01, 2020
Stock-Based Compensation |
Stock-Based Compensation | (13) Stock-Based Compensation Stock-Based Compensation T he Company recognized total stock-based compensation expense, including expense relating to the employee stock purchase plan, of $2,104, $2,829, and $2,294, during fiscal years 2019, 2018, and 2017, 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 1, 2020, and February 2, 2019, respectively, the Company had $3,966 and $2,692 remaining in unrecognized compensation costs, respectively. Employee Stock Plans As of February 1, 2020, the number of shares available for awards under the 2019 Performance Incentive Plan (the “2019 Plan”) was 3,169. As of February 1, 2020, there were 956 awards outstanding under the 2019 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 2019 Plan. Nonvested Restricted Stock Awards During the fiscal years 2019 and 2018, the Company did not issue any nonvested restricted stock awards to employees. 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 February 2, 2019 |  | 26 |  | $ | 11.25 |
Grants |  | — |  |  | — |
Forfeitures |  | — |  |  | — |
Vested |  | (26) |  |  | 11.25 |
Balance at February 1, 2020 |  | — |  | $ | — |
|  |  |  | Weighted |
|  |  |  | average |
|  |  |  | grant-date |
|  | Shares |  | fair value |
Balance at February 3, 2018 |  | 108 |  | $ | 11.25 |
Grants |  | — |  |  | — |
Forfeitures |  | (2) |  |  | 11.25 |
Vested |  | (80) |  |  | 11.25 |
Balance at February 2, 2019 |  | 26 |  | $ | 11.25 |
Nonvested Performance-Based Stock Awards During fiscal year 2019, the Company issued 289 nonvested performance-based stock awards to employees at a weighted average grant date fair value of $3.53 per share. The nonvested performance-based stock awards issued to employees vest at the end of three years. The number of shares issued is contingent on management achieving a fiscal year 2019 performance target for same store sales and gross margin. Based on the performance conditions met for 2019, the finalized granted awards were 226 as presented in the table below. During fiscal year 2018, the Company issued 163 nonvested performance-based stock awards to employees at a weighted average grant date fair value of $4.91 per share. The nonvested performance-based stock awards issued to employees vest at the end of three years. The number of shares issued was contingent on management achieving a fiscal year 2018 performance target for same store sales and gross margin. Based on the performance conditions met for 2018, the finalized granted awards were 36 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 February 2, 2019 |  | 34 |  | $ | 6.07 |
Grants |  | 226 |  |  | 3.53 |
Forfeitures |  | (3) |  |  | 4.91 |
Vested |  | (7) |  |  | 11.25 |
Balance at February 1, 2020 |  | 250 |  | $ | 3.66 |
|  |  |  | Weighted |
|  |  |  | average |
|  |  |  | grant-date |
|  | Shares |  | fair value |
Balance at February 3, 2018 |  | 49 |  | $ | 11.25 |
Grants |  | 36 |  |  | 4.91 |
Forfeitures |  | (5) |  |  | 5.36 |
Vested |  | (46) |  |  | 11.25 |
Balance at February 2, 2019 |  | 34 |  | $ | 6.07 |
Nonvested Stock Unit Awards During the fiscal year 2019, the Company issued 638 nonvested stock units to employees of the Company and independent members of the Board of Directors at a weighted average grant date fair value of $4.13 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 fiscal year 2018, the Company issued 330 nonvested stock units to employees of the Company and independent members of the Board of Directors at a weighted average grant date fair value of $4.89 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. The following table sets forth the rollforward of outstanding nonvested stock units:
|  |  |  | Weighted |
|  |  |  | average |
|  |  |  | grant-date |
|  | Shares |  | fair value |
Balance at February 2, 2019 |  | 441 |  | $ | 4.92 |
Grants |  | 638 |  |  | 4.13 |
Forfeitures |  | (66) |  |  | 5.08 |
Vested |  | (269) |  |  | 4.67 |
Balance at February 1, 2020 |  | 744 |  | $ | 4.32 |
|  |  |  | Weighted |
|  |  |  | average |
|  |  |  | grant-date |
|  | Shares |  | fair value |
Balance at February 3, 2018 |  | 419 |  | $ | 5.15 |
Grants |  | 330 |  |  | 4.89 |
Forfeitures |  | (8) |  |  | 4.91 |
Vested |  | (300) |  |  | 5.23 |
Balance at February 2, 2019 |  | 441 |  | $ | 4.92 |
As of February 1, 2020, and February 2, 2019, the weighted average grant date fair value of the outstanding shares was $4.32 and $4.92, respectively.

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