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Share-Based Compensation (Tables)
6 Months Ended
Jul. 28, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-Based Compensation Expense

Share-based compensation expense was recognized as follows:

 

     Three Months Ended      Six Months Ended  
(In thousands)    July 28,
2018
     July 29,
2017
     July 28,
2018
     July 29,
2017
 

Stock Options

   $ 200      $ 117      $ 356      $ 211  

Restricted Stock Awards and Restricted Stock Units

     263        289        467        363  

Employee Stock Purchase Plan

     3        3        6        6  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 466      $ 409      $ 829      $ 580  
  

 

 

    

 

 

    

 

 

    

 

 

 

Fair Value of Stock Options Granted

The fair value of stock options granted during the six months ended July 28, 2018 and July 29, 2017 was estimated using the following assumptions:

 

     Six Months Ended  
     July 28,
2018
    July 29,
2017
 

Risk Free Interest Rate

     2.6     1.7

Expected Volatility

     39.4     37.9

Expected Life (in years)

     9.0       8.0  

Dividend Yield

     1.5     2.0
Aggregated Information Regarding Stock Options Granted

Aggregated information regarding stock options granted under the Plans for the six months ended July 28, 2018, is summarized below:

 

     Number of
Options
     Weighted
Average

Exercise Price
 

Outstanding at January 31, 2018

     745,270      $ 12.52  

Granted

     196,000        18.21  

Exercised

     (91,375      11.00  

Forfeited

     (850      13.98  

Canceled

     (3,700      8.95  
  

 

 

    

 

 

 

Outstanding at July 28, 2018

     845,345      $ 14.02  
  

 

 

    

 

 

 
Summary of Options Outstanding

Set forth below is a summary of options outstanding at July 28, 2018:

 

Outstanding     Exercisable  

Range of

Exercise prices

    Number of
Shares
    Weighted-
Average
Exercise
Price
    Weighted-
Average
Remaining
Contractual
Life
    Number of
Shares
     Weighted-
Average
Exercise
Price
     Weighted
Average
Remaining
Contractual
Life
 
$ 5.00-10.00       106,331     $ 7.63       2.87       106,331      $ 7.63        2.87  
$ 10.01-15.00       493,014     $ 13.63       7.26       326,747      $ 13.60        6.62  
$ 15.01-20.00       246,000     $ 17.56       9.39       30,000      $ 15.17        7.98  
 

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 
    845,345     $ 14.02       7.33       463,078      $ 12.33        5.84  
 

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 
Aggregated Information Regarding RSUs and RSAs Granted

Aggregated information regarding RSUs and RSAs granted under the Plans for the six months ended July 28, 2018 is summarized below:

 

     RSAs & RSUs      Weighted Average
Grant Date
Fair Value
 

Unvested at January 31, 2018

   $ 177,347      $ 13.99  

Granted

     96,464        17.79  

Vested

     (47,065      13.96  

Forfeited

     (82,682      14.05  
  

 

 

    

 

 

 

Unvested at July 28, 2018

   $ 144,064      $ 16.52