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Stock-Based Compensation | 12 Months Ended
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Jan. 28, 2023
Share-Based Payment Arrangement [Abstract] |
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 $4,673, $3,328, and $3,302, during fiscal years 2022, 2021, and 2020, 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 January 28, 2023, and January 29, 2022, the Company had $7,537 and $13,233, respectively, remaining in unrecognized compensation costs, respectively. Employee Stock Plans As of January 28, 2023, the number of shares available for awards under the 2019 Performance Incentive Plan (the “2019 Plan”) was 1,803. As of January 28, 2023, there were 1,034 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 Performance-Based Stock Awards During fiscal year 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 at the end of three years. The number of shares issued is contingent on management achieving a 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 fiscal year 2021, the Company did no t issue any nonvested performance-based stock awards to employees. 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 |  |  | (194 | ) |  |  | 7.95 |
Vested |  |  | (168 | ) |  |  | 3.49 |
Balance at January 28, 2023 |  |  | 313 |  |  | $ | 7.72 |
|  |  |  |  | Weighted |
|  |  |  |  | average |
|  |  |  |  | grant-date |
|  | Shares |  |  | fair value |
Balance at January 30, 2021 |  |  | 624 |  |  | $ | 5.13 |
Grants |  |  | - |  |  |  | - |
Forfeitures |  |  | (115 | ) |  |  | 5.10 |
Vested |  |  | (22 | ) |  |  | 4.91 |
Balance at January 29, 2022 |  |  | 487 |  |  | $ | 5.13 |
Nonvested Stock Unit Awards During the fiscal year 2022, the Company issued 444 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 $10.77 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 2021, the Company issued 708 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 $14.70 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 January 29, 2022 |  |  | 929 |  |  | $ | 11.56 |
Grants |  |  | 444 |  |  |  | 10.77 |
Forfeitures |  |  | (226 | ) |  |  | 11.15 |
Vested |  |  | (426 | ) |  |  | 9.94 |
Balance at January 28, 2023 |  |  | 721 |  |  | $ | 12.16 |
|  |  |  |  | Weighted |
|  |  |  |  | average |
|  |  |  |  | grant-date |
|  | Shares |  |  | fair value |
Balance at January 30, 2021 |  |  | 779 |  |  | $ | 5.19 |
Grants |  |  | 708 |  |  |  | 14.70 |
Forfeitures |  |  | (217 | ) |  |  | 7.91 |
Vested |  |  | (341 | ) |  |  | 5.87 |
Balance at January 29, 2022 |  |  | 929 |  |  | $ | 11.56 |
As of January 28, 2023, and January 29, 2022, the weighted average grant date fair value of the outstanding shares was $12.16 and $11.56, respectively.

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