Stock-Based Compensation

3 Months Ended

Apr. 29, 2017

5. Stock-Based Compensation

The compensation costs that have been charged against income for the thirteen weeks ended April 29, 2017 and April 30, 2016 were as follows (in thousands):

	Thirteen Weeks Ended
	April 29, 2017		April 30, 2016
Stock-based compensation expense by type:
Stock options	$	173	$	381
Restricted stock unit awards, including performance-based		1,491		1,709
Employee stock purchases		33		36
Director deferred compensation		6		23
Total stock-based compensation expense		1,703		2,149
Income tax benefit recognized		614		781
Stock-based compensation expense, net of income tax	$	1,089	$	1,368

In the thirteen weeks ended April 29, 2017 and April 30, 2016, we granted the following equity awards:

	Thirteen Weeks Ended
	April 29, 2017		April 30, 2016
Stock options		20,372		36,041
Restricted stock unit awards		108,429		100,775
Performance-based restricted stock unit awards		54,900		45,300
Deferred stock units		201		13,482

At April 29, 2017, the total compensation costs, related to nonvested restricted stock unit awards not yet recognized was $9.4 million and the weighted-average period over which such awards are expected to be recognized was 2.8 years. There are no future compensation costs related to nonvested stock options to be recognized at April 29, 2017.

Under the 2012 Non-Employee Director Equity Plan (2012 Plan), a total of 3,361 and 2,851 shares of our common stock were awarded during the thirteen weeks ended April 29, 2017 and April 30, 2016, respectively, as part of the annual equity award to directors in the first quarter. The weighted-average grant date fair value of stock options granted during the thirteen weeks ended April 29, 2017 and April 30, 2016 was $8.47 and $10.56 per share, respectively.

Our employee purchases of common stock, the average price per share and the weighted-average grant date fair value of shares purchased through the our employee stock purchase plan were as follow:

	Thirteen Weeks Ended
	April 29, 2017		April 30, 2016
Shares purchased		5,464		5,617
Average price per share	$	25.08	$	25.70
Weighted average fair value at grant date	$	5.59	$	6.47

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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