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Stock Compensation Plans (Tables)
 12 Months Ended
Feb. 01, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Common Stock Shares Issued to Non-Employee Directors as Compensation

The following shares of common stock, with the respective fair value, were issued from the Non-Employee Director Compensation Plan to its non-employee directors as compensation for fiscal 2024, fiscal 2023 and fiscal 2022:

 

 

 

Number of shares of
common stock issued

 

 

Fair value of
common stock issued

 

Fiscal 2024

 

 

42,609

 

 

$

139,987

 

Fiscal 2023

 

 

59,532

 

 

$

301,578

 

Fiscal 2022

 

 

73,024

 

 

$

359,208

 
Employee Stock Plan, 2006 Plan and 2016 Plan  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Stock Option Activity

The following tables summarize the stock option activity under the Company’s 2006 Incentive Compensation Plan ("2006 Plan") and 2016 Plan, on an aggregate basis, for fiscal 2024:

 

 

Number of
Shares

 

 

Weighted-average
exercise price
per option

 

 

Weighted-average
remaining
contractual term

 

Aggregate
intrinsic value
(000's)

 

Stock Options

 

 

 

 

 

 

 

 

 

 

 

Outstanding options at beginning of year

 

 

3,180,739

 

 

$

0.75

 

 

 

 

$

10,962

 

Options granted

 

 

—

 

 

 

 

 

 

 

 

—

 

Options canceled or expired

 

 

(69,612

)

 

 

5.18

 

 

 

 

 

5

 

Options exercised

 

 

(139,667

)

 

 

0.57

 

 

 

 

 

409

 

Outstanding options at end of year

 

 

2,971,460

 

 

$

0.65

 

 

5.6 yrs.

 

$

6,207

 

Options exercisable at end of year

 

 

2,731,268

 

 

$

0.64

 

 

5.6 yrs.

 

$

5,727

 

Vested and expected to vest at end of year

 

 

2,971,460

 

 

$

0.65

 

 

5.6 yrs.

 

$

6,207

 

 
Employee Stock Plan, 2006 Plan, 2016 Plan and Inducement Awards  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Restricted Stock Activity

The following table summarizes activity for non-vested shares under the Company’s 2006 Plan, 2016 Plan and Inducement Awards, on an aggregate basis, for fiscal 2024:

 

 

RSUs (1)

 

 

Deferred
shares (2)

 

 

Performance share
 units (3)

 

 

Fully-vest
shares (4)

 

 

Total number
of shares

 

 

Weighted-average
grant-date
fair value

 

Shares

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding non-vested shares at beginning of year

 

 

536,285

 

 

 

435,568

 

 

 

573,000

 

 

 

—

 

 

 

1,544,853

 

 

$

3.53

 

Shares granted

 

 

388,650

 

 

 

44,132

 

 

 

—

 

 

 

49,304

 

 

 

482,086

 

 

$

3.48

 

Shares forfeited

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Shares expired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Shares vested/issued

 

 

(163,854

)

 

 

—

 

 

 

—

 

 

 

(49,304

)

 

 

(213,158

)

 

$

4.44

 

Outstanding non-vested shares at end of year

 

 

761,081

 

 

 

479,700

 

 

 

573,000

 

 

 

—

 

 

 

1,813,781

 

 

$

3.41

 

Vested and expected to vest at end of year

 

 

761,081

 

 

 

479,700

 

 

 

—

 

 

 

—

 

 

 

1,240,781

 

 

$

3.05

 

 

(1)
During fiscal 2024, grants primarily related to the grant of time-based RSUs under its 2024-2026 LTIP. See Note H, Long-Term Incentive Plans. As a result of net share settlements, of the 163,854 RSUs that vested, 138,390 shares of common stock were issued.
(2)
The 44,132 shares of deferred stock, with a fair value of $144,991 represent director compensation in lieu of cash, in accordance with the director's irrevocable election. The shares of deferred stock will be issued upon the director's separation from service.
(3)
On August 11, 2023, the Company granted 573,000 performance share units ("PSUs") in connection with the extension of Mr. Kanter's employment agreement. The award consists of nine tranches, with the first tranche vesting if and when the 30-day volume-weighted closing price of the Company's common stock is equal to or greater than $6.50 per share. Each subsequent tranche will vest upon achievement of the 30-day volume-weighted closing price of the Company's common stock in $0.25 increments with the ninth tranche vesting when such price is equal to or greater than $8.50 per share. Any unvested PSUs will expire on August 11, 2026. The $2.4 million fair value was expensed over the respective derived service periods of each tranche which ranged from 12 to 13 months. The respective fair value and derived service periods assigned to the PSUs were determined using a Monte Carlo model based on a weighted historical volatility of 57.8%, a term of 3 years, stock price on the date of grant of $4.98 per share, a risk-free rate of 4.6% and a cost of equity of 11.0%.
(4)
Represented compensation, with a fair value of $161,983, to certain directors, who are required to receive shares, in lieu of cash, in order to satisfy their minimum equity ownership under the Non-Employee Director Compensation Plan. Voluntary shares received, in lieu of cash, are reported below under Non-Employee Director Compensation Plan