Stock-Based Compensation

6 Months Ended

Jul. 31, 2021

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

Stock-Based Compensation

The compensation costs that have been charged against income were as follows (in thousands):

	13-Weeks Ended				26-Weeks Ended
	July 31, 2021		August 1, 2020		July 31, 2021		August 1, 2020
Stock-based compensation expense by type:
Stock options	$	—	$	—	$	174	$	90
Restricted stock units	1,092		587		2,880		1,647
Employee stock purchases	24		27		108		70
Director deferred compensation	15		23		21		47
Total stock-based compensation expense	1,131		637		3,183		1,854
Income tax benefit recognized	279		168		758		423
Stock-based compensation expense, net of income tax	$	852	$	469	$	2,425	$	1,431

Expense for restricted stock units is shown net of forfeitures of approximately $0.1 million and $0.7 million for the 13-weeks ended July 31, 2021 and August 1, 2020, respectively. Expense for restricted stock units is shown net of forfeitures of approximately $0.2 million and $0.9 million for the 26-weeks ended July 31, 2021 and August 1, 2020, respectively.

We have granted the following equity awards:

	13-Weeks Ended		26-Weeks Ended
	July 31, 2021	August 1, 2020	July 31, 2021	August 1, 2020
Stock options	—	—	4,384	27,000
Restricted stock unit awards	790	3,264	62,031	337,749
Performance-based restricted stock unit awards	—	—	22,492	—
Deferred stock units	174	1,120	258	3,263

At July 31, 2021, the total compensation costs not yet recognized related to unvested restricted stock unit awards was $9.3 million and the weighted-average period over which such awards are expected to be recognized is 2.4 years. There were no unrecognized compensation costs related to unvested stock options at July 31, 2021.

During the 13-weeks ended July 31, 2021 and August 1, 2020, no stock options were granted. During the 26-weeks ended July 31, 2021 and August 1, 2020, 4,384 and 27,000 stock options were granted, respectively. The weighted-average grant date fair value of stock options granted during the 26-weeks ended July 31, 2021 and August 1, 2020 was $39.73 and $3.33 per share, respectively.

Under the 2012 Non-Employee Director Equity Plan ("2012 Plan"), no shares of our common stock were awarded during the 13-weeks or 26-weeks ended July 31, 2021 or August 1, 2020.

The number of shares purchased, the average price per share, and the weighted-average grant date fair value of shares purchased through our employee stock purchase plan were as follows:

	13-Weeks Ended				26-Weeks Ended
	July 31, 2021		August 1, 2020		July 31, 2021		August 1, 2020
Shares purchased	2,063		11,143		9,508		28,901
Average price per share	$	58.56	$	8.60	$	43.44	$	9.03
Weighted-average fair value at grant date	$	11.39	$	2.39	$	11.44	$	3.51