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Share-Based Compensation | 3 Months Ended
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May 03, 2025
Share-Based Compensation [Abstract] |
Share-Based Compensation | NOTE 6 – SHARE-BASED COMPENSATION: As of May 3, 2025, the Company had the 2018 Incentive Compensation Plan for the granting of various forms of equity-based awards, including restricted stock and stock options for grant to officers, directors and key employees. The following table presents the number of options and shares of restricted stock initially authorized and available for grant under this plan as of May 3, 2025: 2018 Plan Options and/or restricted stock initially authorized 4,725,000 Options and/or restricted stock available for grant 2,865,875 In accordance with ASC 718 – Compensation–Stock Compensation , the fair value of current restricted stock awards is estimated on the date of grant based on the market price of the Company’s stock and is amortized to compensation expense on a straight-line basis over the related vesting periods. As of May 3, 2025 and February 1, 2025, there was $ 6,298,000 and $ 7,276,000 , respectively, of total unrecognized compensation expense related to unvested restricted stock awards, which had a remaining weighted- average vesting period of 2.1 years and 1.9 years, respectively. The total compensation expense during the three months ended May 3, 2025 was $ 109,000 compared to a benefit of $ 66,000 for the three months ended May 4, 2024. This compensation activity is classified as a component of Selling, general and administrative expenses in the Condensed Consolidated Statements of Income. The following summary shows the changes in the number of shares of unvested restricted stock outstanding during the three months ended May 3, 2025: Weighted Average Number of Grant Date Fair Shares Value Per Share Restricted stock awards at February 1, 2025 1,215,181 $ 8.98 Granted - - Vested (225,924) 12.89 Forfeited or expired (68,274) 8.33 Restricted stock awards at May 3, 2025 920,983 $ 8.07 The Company’s Employee Stock Purchase Plan allows eligible full-time employees to purchase a limited number of shares of the Company’s Class A Common Stock during each semi-annual offering period at a 15 % discount through payroll deductions. During the three months ended May 3, 2025 and May 4, 2024, the Company sold 21,736 and 33,317 shares to employees at an average discount of $ 0.50 and $ 0.86 per share, respectively, under the Employee Stock Purchase Plan. The compensation expense recognized for the 15 % discount given under the Employee Stock Purchase Plan was approximately $ 11,000 and $ 29,000 for the three months ended May 3, 2025 and May 4, 2024, respectively. These expenses are classified as a component of Selling, general and administrative expenses in the Condensed Consolidated Statements of Income.

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- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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