During the 13 weeks ended May 4, 2024, the Company recognized total stock-based compensation expense of $1,174. During the 13 weeks ended April 29, 2023, the Company recognized total stock-based compensation expense of $1,250. 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.

As of May 4, 2024, the number of shares available for awards under the 2019 Performance Incentive Plan (the “2019 Plan”) was 349. As of May 4, 2024, there were 2,383 unvested stock awards outstanding under the 2019 Plan.

As of May 4, 2024, the number of shares available for awards under the Inducement Plan was 545. As of May 4, 2024, there were 455 unvested stock awards outstanding under the Inducement Plan.

The Company also maintains an Employee Stock Purchase Plan (the “ESPP”) that was approved by the Company’s stockholders in fiscal year 2015, under which 800 shares of common stock were authorized. During the 13 weeks ended May 4, 2024, no shares were issued under the ESPP and, as of May 4, 2024, the number of shares available for issuance was 128.

During the 13 weeks ended May 4, 2024, the Company issued 874 nonvested performance-based stock awards to employees at a weighted average grant date fair value of $3.09 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 a fiscal year 2024 performance target for earnings before interest, taxes, depreciation and amortization expenses. If a minimum threshold performance target is not achieved, no shares will vest. The maximum number of shares subject to the award is 874. Following the end of the performance period for fiscal year 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 April 29, 2023, the Company issued 36 nonvested performance-based stock awards to employees at a weighted average grant date fair value of $8.40 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 2023, 2024, and 2025 performance targets for total return on invested capital and total operating income percentage. If minimum threshold performance targets are not achieved, no shares will vest. The maximum number of shares subject to the award is 72, and the “target” number of shares subject to the award is 36 as reported below. Following the end of the performance period (fiscal years 2023, 2024,

and 2025), 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.

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 3, 2024		30	$	9.03
Grants		874		3.09
Forfeitures		—		—
Vested		—		—
Balance at May 4, 2024		904	$	3.29


				Weighted
				average
				grant-date
	Shares			fair value
Balance at January 28, 2023		313		$	7.72
Grants		36			8.40
Forfeitures		(64	)		11.28
Vested		(221	)		6.20
Balance at April 29, 2023		64		$	9.67

During the 13 weeks ended May 4, 2024, the Company issued 1,087 nonvested stock units to employees of the Company at an average value of $3.10 per share. The shares vest over a three-year period with one third of the shares vesting on each anniversary of the grant date.

During the 13 weeks ended April 29, 2023, the Company issued 522 nonvested stock units to employees of the Company at an average value of $8.20 per share. The shares vest over a three-year period with one third of the shares vesting on each anniversary of the grant date.

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 3, 2024		1,058		$	7.13
Grants		1,087			3.10
Forfeitures		(27	)		9.46
Vested		(184	)		8.42
Balance at May 4, 2024		1,934		$	4.69


				Weighted
				average
				grant-date
	Shares			fair value
Balance at January 28, 2023		721		$	12.16
Grants		522			8.20
Forfeitures		(91	)		12.55
Vested		(209	)		10.64
Balance at April 29, 2023		943		$	9.59