XML 73 R36.htm IDEA: XBRL DOCUMENT v3.20.1
Share-Based Compensation (Tables)
 3 Months Ended
May 02, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]
The following table details share-based compensation expense and the related income tax benefit for the thirteen weeks ended May 2, 2020 and May 4, 2019:
 
Thirteen Weeks Ended
(in thousands)
May 2, 2020

 
May 4, 2019

Share-based compensation expense
$
5,162

 
$
2,632

Income tax benefit associated with share-based compensation expense recognized (1)
$
—

 
$
550
Share-based Payment Arrangement, Discrete Tax Benefit (Charge) [Table Text Block]
The following table details discrete income tax benefits and charges related to share-based compensation awards during the thirteen weeks ended May 2, 2020 and May 4, 2019:
 
Thirteen Weeks Ended
(in thousands)
May 2, 2020

 
May 4, 2019

Income tax discrete benefits realized for tax deductions related to the issuance of shares (1)
$
—

 
$
1,239

Income tax discrete charges realized upon cancellation of stock appreciation rights (1)
—

 
(165
)
Total income tax discrete benefits related to share-based compensation awards
$
—

 
$
1,074
Schedule of Restricted Stock Unit Activity
The following table summarizes activity for restricted stock units for the thirteen weeks ended May 2, 2020:
 
Service-based Restricted
Stock Units
 
Performance-based Restricted
Stock Units
 
Market-based Restricted
Stock Units
 
Number of 
Underlying
Shares (1)
 
Weighted-
Average Grant
Date Fair Value
 
Number of 
Underlying
Shares
 
Weighted-
Average Grant
Date Fair Value
 
Number of 
Underlying
Shares
 
Weighted-
Average Grant
Date Fair Value
Unvested at February 1, 2020
1,676,831

 
$
18.68

 
747,056

 
$
15.11

 
421,784

 
$
23.05

Granted
1,646,771

 
7.29

 
—

 
—

 
—

 
—

Adjustments for performance achievement
—

 
—

 
38,381

 
11.37

 
134,122

 
11.79

Vested
(639,921
)
 
18.00

 
(478,728
)
 
9.58

 
(350,447
)
 
11.79

Forfeited
(12,881
)
 
19.99

 
(817
)
 
17.56

 
—

 
—

Unvested at May 2, 2020 (2)
2,670,800

 
$
11.81

 
305,892

 
$
22.39

 
205,459

 
$
34.90



(1) 
Includes 79,028 unvested restricted stock units as of May 2, 2020, subject to vesting requirements related to the achievement of certain performance metrics, such as operating income and net income, for the fiscal year immediately preceding the vesting date. Holders of these restricted stock units have the opportunity to earn back one or more installments of the award if the cumulative performance requirements are met in a subsequent year.
(2) 
Unvested shares related to restricted stock units with performance-based and market-based vesting conditions are reflected at 100% of their target vesting amount in the table above. Certain unvested shares related to restricted stock units with performance-based vesting conditions can be achieved at up to 200% of their target vesting amount.
Schedule of Stock Appreciation Rights Activity
The following table summarizes stock appreciation rights activity for the thirteen weeks ended May 2, 2020:
 
Number of
Underlying
Shares

 
Weighted-Average
Exercise Price

 
Aggregate
Intrinsic Value

 
Weighted-Average
Remaining
Contractual Life (years)
Outstanding at February 1, 2020
796,725

 
$
40.06

 
 
 
 
Granted
—

 
—

 
 
 
 
Exercised
—

 
—

 
 
 
 
Forfeited or expired
(162,475
)
 
44.86

 
 
 
 
Outstanding at May 2, 2020
634,250

 
$
38.84

 
$
—

 
2.6
Stock appreciation rights exercisable at May 2, 2020
634,250

 
$
38.84

 
$
—

 
2.6
Stock appreciation rights expected to become exercisable in the future as of May 2, 2020
—

 
$
—

 
$
—

 
0.0

No stock appreciation rights were exercised during the thirteen weeks ended May 2, 2020. Additional information pertaining to stock appreciation rights for the thirteen weeks ended May 4, 2019 follows:
(in thousands)
May 4, 2019

Total grant date fair value of awards exercised
$
2,379
Market-based restricted stock units [Member]  
Schedule of Weighted-Average Estimated Fair Value and Assumptions of Restricted Stock Units with Market Vesting Conditions
Additional information pertaining to restricted stock units for the thirteen weeks ended May 2, 2020 and May 4, 2019 follows:
(in thousands)
May 2, 2020

 
May 4, 2019

Service-based restricted stock units:
 
 
 
Total grant date fair value of awards granted
$
12,005

 
$
14,473

Total grant date fair value of awards vested
$
11,519

 
$
10,971

 
 
 
 
Performance-based restricted stock units:
 
 
 
Total grant date fair value of awards granted
$
—

 
$
5,312

Total grant date fair value of awards vested
$
4,586

 
$
—

 
 
 
 
Market-based restricted stock units:
 
 
 
Total grant date fair value of awards granted
$
—

 
$
4,176

Total grant date fair value of awards vested
$
4,132

 
$
511


No market-based restricted stock units were granted during the thirteen weeks ended May 2, 2020. The weighted-average assumptions used for market-based restricted stock units in the Monte Carlo simulation during the thirteen weeks ended May 4, 2019 were as follows:
 
May 4, 2019

Grant date market price
$
25.34

Fair value
$
36.24

Assumptions:
 
Price volatility
57
%
Expected term (years)
2.9

Risk-free interest rate
2.2
%
Dividend yield
3.2
%
Average volatility of peer companies
40.0
%
Average correlation coefficient of peer companies
0.2407