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Stock-Based Compensation
 9 Months Ended
Nov. 01, 2025
Stock-Based Compensation [Abstract]  
Stock-Based Compensation
NOTE 6 – STOCK-BASED COMPENSATION:
As
of
November
1,
2025,
the
Company’s
2018
Incentive
Compensation
Plan
allows
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 November 1, 2025:
2018
Plan
Options and/or restricted stock initially authorized
4,725,000
Options and/or restricted stock available for grant
2,861,706
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
November
1,
2025
and
February
1,
2025,
there
was
$
4,813,000
and
$
7,276,000
,
respectively,
of
total
unrecognized compensation expense
related to nonvested
restricted stock awards,
which had a
remaining
weighted-average vesting period of
1.6
years and
1.9
years, respectively. The
total compensation expense
during the
three and
nine months
ended November
1, 2025
was $
536,000
and $
1,114,000
, respectively,
compared
to
a
total
compensation
expense
of
$
714,000
and
$
1,520,000
for
the
three
and
nine
months
ended
November
2,
2024,
respectively.
This
compensation
activity
is
classified
as
a
component
of
Selling,
general
and
administrative
expenses
in
the
Condensed
Consolidated
Statements
of
Income
(Loss).
The following summary
shows the changes
in the number
of shares of
unvested restricted stock
outstanding
during
the nine months ended
November
1, 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
(76,105)
8.29
R
estricted stock awards at November 1, 2025
913,152
$
8.06
NOTE 6 – STOCK BASED-COMPENSATION (CONTINUED):
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
nine months ended
November 1, 2025
and November
2, 2024, the Company sold
51,845
and
73,593
shares to employees at an average discount of $
0.49
and $
0.81
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
$
25,000
and
$
60,000
for
the
nine
months
ended
November
1,
2025
and
November
2,
2024,
respectively.
These
expenses
are
classified
as
a
component
of
Selling,
general
and
administrative
expenses
in
the
Condensed
Consolidated
Statements
of
Income (Loss).