Stock-Based Compensation

3 Months Ended

Oct. 31, 2015

5. Stock-Based Compensation

The compensation costs that have been charged against income for the thirteen and thirty-nine weeks ended October 31, 2015 and November 1, 2014 were as follows (in thousands):

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	October 31, 2015		November 1, 2014		October 31, 2015		November 1, 2014
Stock-based compensation expense by type:
Stock options	$	16	$	19	$	375	$	449
Restricted stock unit awards, including performance-based		815		122		3,980		3,059
Employee stock purchases		23		25		81		81
Director deferred compensation		18		18		53		52
Total stock-based compensation expense		872		184		4,489		3,641
Income tax benefit recognized		316		60		1,645		1,342
Stock-based compensation expense, net of income tax	$	556	$	124	$	2,844	$	2,299

In the thirteen and thirty-nine weeks ended October 31, 2015 and November 1, 2014, we granted the following equity awards:

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	October 31, 2015		November 1, 2014		October 31, 2015		November 1, 2014
Stock options		1,515		1,244		21,743		19,219
Restricted stock unit awards		-		-		69,529		63,399
Performance-based restricted stock unit awards		-		-		29,300		25,300
Deferred stock units		500		411		12,128		10,740

Under the 2012 Non-Employee Director Equity Plan (2012 Plan), no shares of our common stock were awarded during the thirteen weeks ended October 31, 2015 and November 1, 2014. A total of 1,981 and 1,759 shares of our common stock were awarded during the thirty-nine weeks ended October 31, 2015 and November 1, 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 3,114 and 2,115 shares of our common stock during the thirteen weeks ended October 31, 2015 and November 1, 2014, respectively, and 8,605 and 6,796 shares of our common stock during the thirty-nine weeks ended October 31, 2015 and November 1, 2014, respectively.

The weighted-average grant date fair value of stock options granted during the thirteen and thirty-nine weeks ended October 31, 2015 was $10.52 and $17.23 per share, respectively. The weighted-average grant date fair value of shares of stock purchased through our employee stock purchase plan was $10.01 and $10.35, and the weighted-average price paid by our employees for shares of our common stock was $29.76 and $36.66, during the thirteen and thirty-nine weeks ended October 31, 2015, 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.

At October 31, 2015, 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 2.5 years. There are no future compensation costs related to nonvested stock options to be recognized at October 31, 2015.