Stock-Based Compensation

3 Months Ended

May 02, 2015

Stock-Based Compensation [Abstract]

Stock-Based Compensation

5.Stock-Based Compensation

The compensation costs that have been charged against income for the thirteen weeks ended May 2, 2015 and May 3, 2014 were as follows (in thousands):

	Thirteen Weeks Ended
	May 2, 2015		May 3, 2014
Stock-based compensation expense by type:
Stock options	$	340	$	412
Restricted stock unit awards, including performance-based		2,278		2,051
Employee stock purchases		37		37
Director deferred compensation		18		17
Total stock-based compensation expense		2,673		2,517
Income tax benefit recognized		985		933
Stock-based compensation expense, net of income tax	$	1,688	$	1,584

In the thirteen weeks ended May 2, 2015 and May 3, 2014, we granted the following equity awards:

	Thirteen Weeks Ended
	May 2, 2015		May 3, 2014
Stock options		19,090		16,996
Restricted stock unit awards		69,529		62,503
Performance-based restricted stock unit awards		29,300		25,300
Deferred stock units		11,252		10,006

Under the 2012 Non-Employee Director Equity Plan (2012 Plan), a total of 1,981 and 1,759 shares of our common stock were awarded during the thirteen weeks ended May 2, 2015 and May 3, 2014, 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 3,449 and 3,101 shares of our common stock during the thirteen weeks ended May 2, 2015 and May 3, 2014, respectively.

The weighted-average grant date fair value of stock options granted during the thirteen weeks ended May 2, 2015 was $17.82 per share.  The weighted-average grant date fair value of shares of stock purchased through our employee stock purchase plan was $10.72, and the weighted-average price paid by our employees for shares of our common stock was $41.17 during the thirteen weeks ended May 2, 2015.

The weighted-average grant date fair value of stock options granted during the thirteen weeks ended May 3, 2014 was $24.22 per share.  The weighted-average grant date fair value of shares of stock purchased through our employee stock purchase plan was $11.93, and the weighted-average price paid by our employees for shares of our common stock was $44.95 during the thirteen weeks ended May 3, 2014.

At May 2, 2015, the total compensation costs, related to nonvested restricted stock unit awards not yet recognized was $10.8 million and the weighted-average period over which such awards are expected to be recognized was 2.9 years.  There are no future compensation costs related to nonvested stock options to be recognized at May 2, 2015.