v2.4.0.6

Stock-Based Compensation (Tables)

3 Months Ended

May 04, 2013

Summary of Stock Options Outstanding under All Plans

The following table summarizes stock options outstanding under all of our plans as of the end of the first quarter of fiscal 2013:

		Options				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term (in years)				Aggregate Intrinsic Value
Outstanding at February 2, 2013			6,219,394			$	9.37
Granted			20,000			$	11.06
Exercised			(427,427	)		$	8.53
Forfeited or expired			(485,554	)		$	11.10
Outstanding at May 4, 2013			5,326,413			$	9.29				6.85			$	28,245,565
Exercisable at May 4, 2013			2,741,704			$	10.29				5.63			$	13,505,605

Cash Proceeds, Tax Benefits and Intrinsic Values Related to Stock Options Exercised

Cash proceeds, tax benefits and intrinsic values related to total stock options exercised during the first quarter of fiscal 2013 and 2012 are provided in the following table (in thousands):

		Three Months Ended
		May 4, 2013				April 28, 2012
Proceeds from stock options exercised		$	3,648			$	649
Tax benefit related to stock options exercised		$	907			$	216
Intrinsic value of stock options exercised		$	2,268			$	540

Effect of Recording Stock-Based Compensation

The effect of recording stock-based compensation for the first quarter of fiscal 2013 and 2012 was as follows (in thousands):

		Three Months Ended
		May 4, 2013				April 28, 2012
Stock-based compensation by type of award:
Employee and director stock options and awards		$	871			$	955
Non-employee stock award			-				4
Employee stock purchase plan			89				42
Total stock-based compensation expense			960				1,001
Tax effect on stock-based compensation expense			(328	)			(362	)
Net effect on net income or loss		$	632			$	639

Black-Scholes Option Valuation Model

Weighted Average Assumptions used for Stock Options Granted

The following weighted average assumptions were used in the Black-Scholes option valuation model for stock options granted:

		Three Months Ended
		May 4, 2013				April 28, 2012
Risk free interest rate			1	%			1	%
Expected life		5 years				5 years
Expected volatility			56	%			57	%
Expected dividend yield			3	%			4	%
Weighted average fair value at grant date (with the exception of Lisa Harper’s 100,000 stock options granted in March 2012 that were subject to the performance condition)		$	4.23			$	3.43

Monte Carlo Simulation Valuation Model

Weighted Average Assumptions used for Stock Options Granted

The following weighted average assumptions were used in the Monte Carlo simulation valuation model for the stock options granted in March 2011 that were subject to the vesting determination:

Risk free interest rate		4%
Contractual life		10 years
Expected volatility		58%
Expected dividend yield		5%
Weighted average fair value at grant date		$	2.60

X

- Definition

Tabular disclosure of the amount of cash proceeds received from the exercise of stock options and similar instruments granted under share-based payment arrangements and the tax benefit realized from stock options exercised during the period. Disclosure may also include the intrinsic value of stock options exercised during the period.

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

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- Definition

Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (h)(1)

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X

- Definition

Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)(1)

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (f)(2)

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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