Employee Stock Purchase Plan

12 Months Ended

Feb. 01, 2020

(14) Employee Stock Purchase Plan

In June 2015, the Company’s stockholders approved the Sportsman’s Warehouse Holdings, Inc. Employee Stock Purchase Plan (“ESPP”), which provides for the granting of up to 800 shares of the Company’s common stock to eligible employees. The ESPP period is semi-annual and allows participants to purchase the Company’s stock at 85% of the lower of (i) the market value per share of the common stock on the first day of the offering period or (ii) the market value per share of the common stock on the purchase date. The first plan period began on January 1, 2016. Stock-based compensation expense related to the ESPP in fiscal year 2019, 2018, and 2017 was $133, $143, and $160, respectively.

The Company uses the Black-Scholes model to estimate the fair value of shares to be issued as of the grant date using the following weighted average assumptions:


	Fiscal Year Ended	Fiscal Year Ended
	February 1, 2020	February 2, 2019
Risk-free interest rate	1.54%	2.56%
Expected life (in years)	0.5	0.5
Expected volatility	39.0%	32.2%
Dividend yield	—	—