Stock-Based Compensation

3 Months Ended

Nov. 01, 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 thirty-nine weeks ended November 1, 2014 and November 2, 2013 were as follows (in thousands):

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	November 1, 2014		November 2, 2013		November 1, 2014		November 2, 2013
Stock-based compensation expense by type:
Stock options	$	19	$	17	$	449	$	340
Restricted stock unit awards, including performance-based		122		1,321		3,059		4,207
Employee stock purchases		25		26		81		84
Director deferred compensation		18		34		52		96
Total stock-based compensation expense		184		1,398		3,641		4,727
Income tax benefit recognized		60		516		1,342		1,745
Stock-based compensation expense, net of income tax	$	124	$	882	$	2,299	$	2,982

In the thirteen and thirty-nine weeks ended November 1, 2014 and November 2, 2013, we granted the following equity awards:

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	November 1, 2014		November 2, 2013		November 1, 2014		November 2, 2013
Stock options		1,244		810		19,219		19,251
Restricted stock unit awards		-		-		63,399		62,625
Performance-based restricted stock unit awards		-		-		25,300		36,700
Deferred stock units		411		601		10,740		8,076

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 thirty-nine weeks ended November 1, 2014 and November 2, 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 2,115 and 1,994 shares of our common stock during the thirteen weeks ended November 1, 2014 and November 2, 2013, respectively, and 6,796 and 6,860 shares of our common stock during the thirty-nine weeks ended November 1, 2014 and November 2, 2013, respectively.

The weighted-average grant date fair value of stock options granted during the thirteen and thirty-nine weeks ended November 1, 2014 was $15.36 and $23.38 per share, respectively.  The weighted-average grant date fair value of shares of stock purchased through our employee stock purchase plan was $9.50 and $11.16, and the weighted-average price paid by our employees for shares of our common stock was $36.24 and $42.35 during the thirteen and thirty-nine weeks ended November 1, 2014, respectively.

The weighted-average grant date fair value of stock options granted during the thirteen and thirty-nine weeks ended November 2, 2013 was $21.51 and $17.68 per share, respectively.  The weighted-average grant date fair value of shares of stock purchased through our employee stock purchase plan was $12.94 and $12.34, and the weighted-average price paid by our employees for shares of our common stock was $47.40 and $46.03 during the thirteen and thirty-nine weeks ended November 2, 2013, respectively.

At November 1, 2014, the total compensation costs, related to nonvested restricted stock unit awards not yet recognized was $8.6 million and the weighted-average period over which such awards are expected to be recognized was 2.4 years.  There are no future compensation costs related to nonvested stock options to be recognized at November 1, 2014.