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Share-Based Compensation
 3 Months Ended
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.