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Stock-Based Compensation | 6 Months Ended
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Jul. 30, 2022
Stock-Based Compensation |
Stock-Based Compensation | (10) Stock-Based Compensation ​ Stock-Based Compensation During the 13 and 26 weeks ended July 30, 2022 the Company recognized total stock-based compensation expense of $1,091 and $2,449. During the 13 and 26 weeks ended July 31, 2021, the Company recognized total stock-based compensation expense of $1,027 and $2,043. 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 30, 2022, the number of shares available for awards under the 2019 Performance Incentive Plan (the “2019 Plan”) was 1,637. As of July 30, 2022, there were 1,366 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 were authorized. For the 13 weeks ended July 30, 2022, 64 shares were issued under the ESPP and, as of July 30, 2022, the number of shares available for issuance was 310. ​ Nonvested Performance-Based Stock Awards During the 13 weeks ended July 30, 2022, the Company issued 47 nonvested performance-based stock awards to employees at a weighted average grant date fair value of $9.65 per share. During the 26 weeks ended July 30, 2022, the Company issued 188 nonvested performance-based stock awards to employees at a weighted average grant date fair value of $10.88 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 2022, 2023, and 2024 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 376, and the “target” number of shares subject to the award is 188 as reported below. Following the end of the performance period (fiscal years 2022, 2023, and 2024), 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 July 31, 2021, the Company did no t issue any nonvested performance-based stock awards. ​ 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 29, 2022 | ​ | 487 | ​ | $ | 5.13
Grants | ​ | 188 | ​ | ​ | 10.88
Forfeitures | ​ | (89) | ​ | ​ | 5.47
Vested | ​ | (168) | ​ | ​ | 3.49
Balance at July 30, 2022 | ​ | 418 | ​ | $ | 8.31
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | average
​ | ​ | ​ | ​ | grant-date
​ | ​ | Shares |  | fair value
Balance at January 30, 2021 | ​ | 624 | ​ | $ | 5.13
Grants | ​ | — | ​ | ​ | —
Forfeitures | ​ | (13) | ​ | ​ | 5.63
Vested | ​ | (22) | ​ | ​ | 4.91
Balance at July 31, 2021 | ​ | 589 | ​ | $ | 5.13
​ Nonvested Stock Unit Awards During the 13 and 26 weeks ended July 30, 2022, the Company issued 110 and 418 nonvested stock units, respectively, to employees and directors of the Company at an average value of $9.51 and $10.82 per share, respectively. 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 directors of the Company vest over a 12 month period with one twelfth of the shares vesting each month. During the 13 weeks ended July 31, 2021, the Company issued 28 nonvested stock units to directors of the Company at an average value of $17.77 per share. The shares issued to directors of the Company vest over a 12 month period with one twelfth of the shares vesting each month. During the 26 weeks ended July 31, 2021, the Company issued 249 nonvested stock units to employees and directors of the Company at an average value of $17.33 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 directors of the Company vest over a 12 month period with one twelfth of the shares vesting each month. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 29, 2022 | ​ | 929 | ​ | $ | 11.56
Grants | ​ | 418 | ​ | ​ | 10.82
Forfeitures | ​ | (139) | ​ | ​ | 11.41
Vested | ​ | (260) | ​ | ​ | 8.19
Balance at July 30, 2022 | ​ | 948 | ​ | $ | 12.18
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | average
​ | ​ | ​ | ​ | grant-date
​ |  | Shares |  | fair value
Balance at January 30, 2021 | ​ | 779 | ​ | $ | 5.19
Grants | ​ | 249 | ​ | ​ | 17.33
Forfeitures | ​ | (38) | ​ | ​ | 8.02
Vested | ​ | (325) | ​ | ​ | 5.45
Balance at July 31, 2021 | ​ | 665 | ​ | $ | 9.45
​

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