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Stock-Based Compensation | 9 Months Ended
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Oct. 31, 2020
Stock-Based Compensation |
Stock-Based Compensation | (11) Stock-Based Compensation ​ Stock-Based Compensation During the 13 and 39 weeks ended October 31, 2020 the Company recognized total stock-based compensation expense of $882 and $2,436, respectively. During the 13 and 39 weeks ended November 2, 2019 the Company recognized total stock-based compensation expense of $619 and $1,567, 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 October 31, 2020, the number of shares available for awards under the 2019 Performance Incentive Plan (the “2019 Plan”) was 2,598. As of October 31, 2020, there were 1,207 unvested stock awards outstanding under the 2019 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 13 weeks ended October 31, 2020, no shares were issued under the ESPP and, as of October 31, 2020, the number of shares available for issuance was 406. ​ Nonvested Restricted Stock Awards During the 13 and 39 weeks ended October 31, 2020 and November 2, 2019, 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 November 2, 2019 | ​ | — | ​ | $ | — | ​
​ Nonvested Performance-Based Stock Awards During the 13 weeks ended October 31, 2020, the Company did not issue any nonvested performance-based stock awards. During the 39 weeks ended October 31, 2020, the Company issued 206 nonvested performance-based stock awards to employees at a weighted average grant date fair value of $5.95 per share. The nonvested performance-based stock awards issued to employees vest in full on the third anniversary of the grant date. The number of shares issued is contingent on management achieving fiscal year 2020, 2021, and 2022 performance targets for total revenue growth and adjusted EPS. If minimum threshold performance targets are not achieved, no shares will vest. The maximum number of shares subject to the award is 412, and the “target” number of shares subject to the award is 206 as reported below. Following the end of the performance period (fiscal years 2020, 2021, and 2022), 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. ​ During the 13 weeks ended November 2, 2019 the Company did not issue any performance-based stock awared. During the 39 weeks ended November 2, 2019, the Company issued 289 nonvested performance-based stock awards to employees at a weighted average grant date fair value of $3.56 per share. The nonvested performance-based stock awards issued to employees vest in full on the third anniversary of the grant date. The number of shares issued was contingent on management achieving fiscal year 2019 performance targets for omni-channel revenue growth and adjusted EPS. If minimum threshold performance targets are not achieved, no shares would vest. The maximum number of shares subject to the award is 578, and the “target” number of shares subject to the award is 289 as reported below. Following the end of the performance period (fiscal year 2019), the number of shares eligible to vest, based on actual performance, was 226. 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 1, 2020 | ​ | 250 | ​ | $ | 3.66 | ​
Grants | ​ | 206 | ​ | ​ | 5.95 | ​
Forfeitures | ​ | (38) | ​ | ​ | 4.33 | ​
Vested | ​ | — | ​ | ​ | — | ​
Balance at October 31, 2020 | ​ | 418 | ​ | $ | 4.73 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted | ​
​ | ​ | ​ | ​ | average | ​
​ | ​ | ​ | ​ | grant-date | ​
​ | ​ | Shares |  | fair value | ​
Balance at February 2, 2019 | ​ | 34 | ​ | $ | 6.07 | ​
Grants | ​ | 289 | ​ | ​ | 3.56 | ​
Forfeitures | ​ | (7) | ​ | ​ | 4.91 | ​
Vested | ​ | (6) | ​ | ​ | 11.25 | ​
Balance at November 2, 2019 | ​ | 310 | ​ | $ | 3.64 | ​
​ Nonvested Stock Unit Awards During the 13 and 39 weeks ended October 31, 2020, the Company issued 4 and 430, nonvested stock units, respectively, to employees and directors of the Company at an average value of $6.37 per share. 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 shares issued to members of the Board of Directors of the Company vest over a twelve month period. During the 13 and 39 weeks ended November 2, 2019, the Company issued 6 and 622 nonvested stock units to employees and members of the Board of Directors of the Company at an average value of $4.08 per share. 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 shares issued to the members of the Board of Directors of the Company vest over a twelve month period. ​ 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 February 1, 2020 | ​ | 744 | ​ | $ | 4.32 | ​
Grants | ​ | 430 | ​ | ​ | 6.37 | ​
Forfeitures | ​ | (63) | ​ | ​ | 4.71 | ​
Vested | ​ | (320) | ​ | ​ | 4.70 | ​
Balance at October 31, 2020 | ​ | 791 | ​ | $ | 5.25 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted | ​
​ | ​ | ​ | ​ | average | ​
​ | ​ | ​ | ​ | grant-date | ​
​ |  | Shares |  | fair value |
Balance at February 2, 2019 | ​ | 441 | ​ | $ | 4.92 | ​
Grants | ​ | 622 | ​ | ​ | 4.08 | ​
Forfeitures | ​ | (53) | ​ | ​ | 5.13 | ​
Vested | ​ | (237) | ​ | ​ | 4.74 | ​
Balance at November 2, 2019 | ​ | 773 | ​ | $ | 4.29 | ​
​

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