Stock-Based Compensation

3 Months Ended

Aug. 02, 2014

Stock-Based Compensation [Abstract]

Stock-Based Compensation

5.Stock-Based Compensation

The compensation costs that have been charged against income for the thirteen and twenty-six weeks ended August 2, 2014 and August 3, 2013 were as follows (in thousands):

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	August 2, 2014		August 3, 2013		August 2, 2014		August 3, 2013
Stock-based compensation expense by type:
Stock options	$	19	$	14	$	430	$	323
Restricted stock unit awards, including performance-based		885		899		2,936		2,885
Employee stock purchases		19		17		56		59
Director deferred compensation		17		32		35		62
Total stock-based compensation expense		940		962		3,457		3,329
Income tax benefit recognized		347		353		1,280		1,229
Stock-based compensation expense, net of income tax	$	593	$	609	$	2,177	$	2,100

In the thirteen and twenty-six weeks ended August 2, 2014 and August 3, 2013, we granted the following equity awards:

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	August 2, 2014		August 3, 2013		August 2, 2014		August 3, 2013
Stock options		979		818		17,975		18,441
Restricted stock unit awards		896		-		63,399		62,625
Performance-based restricted stock unit awards		-		-		25,300		36,700
Deferred stock units		323		578		10,329		7,475

Under the 2012 Non-Employee Director Equity Plan (2012 Plan), a total of 1,759 and 2,312 shares of our common stock were awarded during the twenty-six weeks ended August 2, 2014 and August 3, 2013, respectively, as part of the annual equity award to directors in the first quarter.  In addition, under our employee stock purchase plan, our employees purchased 1,580 and 1,385 shares of our common stock during the thirteen weeks ended August 2, 2014 and August 3, 2013, respectively, and 4,681 and 4,866 shares of our common stock during the twenty-six weeks ended August 2, 2014 and August 3, 2013, respectively.

The weighted-average grant date fair value of stock options granted during the thirteen and twenty-six weeks ended August 2, 2014 was $18.99 and $23.93 per share, respectively. The weighted-average grant date fair value of shares of stock purchased through our employee stock purchase plan was $11.88 and $11.91, and the weighted-average price paid by our employees for shares of our common stock was $45.42 and $45.11 during the thirteen and twenty-six weeks ended August 2, 2014, respectively.

The weighted-average grant date fair value of stock options granted during the thirteen and twenty-six weeks ended August 3, 2013 was $17.40 and $17.52 per share, respectively.  The weighted-average grant date fair value of shares of stock purchased through our employee stock purchase plan was $12.10 and $12.05 and the weighted-average price paid by our employees for shares of our common stock was $47.18 and $45.47 during the thirteen and twenty-six weeks ended August 3, 2013, respectively.

At August 2, 2014, the total compensation costs, related to nonvested restricted stock unit awards not yet recognized was $10.3 million and the weighted-average period over which such awards are expected to be recognized was 2.6 years.  There are no future compensation costs related to nonvested stock options to be recognized at August 2, 2014.