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Share-Based Compensation
9 Months Ended
Oct. 31, 2020
Share-based Payment Arrangement [Abstract]  
SHARE-BASED COMPENSATION
Financial statement impact

The following table details share-based compensation expense and the related income tax impacts for the thirteen and thirty-nine weeks ended October 31, 2020 and November 2, 2019:
Thirteen Weeks EndedThirty-nine Weeks Ended
(in thousands)October 31, 2020November 2, 2019October 31, 2020November 2, 2019
Share-based compensation expense$4,669 $5,796 $13,575 $8,464 
Income tax benefit associated with share-based compensation expense recognized (1)
$— $1,211 $— $1,566 
(1)    No income tax benefit was recognized related to share-based compensation expense during the thirteen and thirty-nine weeks ended October 31, 2020 due to the U.S. being a loss jurisdiction.

The following table details discrete income tax benefits and charges related to share-based compensation awards during the thirteen and thirty-nine weeks ended October 31, 2020 and November 2, 2019:
Thirteen Weeks EndedThirty-nine Weeks Ended
(in thousands)October 31, 2020November 2, 2019October 31, 2020November 2, 2019
Income tax discrete benefits realized for tax deductions related to the issuance of shares (1)
$— $$— $1,175 
Income tax discrete charges realized upon cancellation of stock appreciation rights (1)
— (447)— (611)
Total income tax discrete (charges) benefits related to share-based compensation awards$— $(441)$— $564 
(1)    No income tax benefits or charges related to these items were recognized during the thirteen and thirty-nine weeks ended October 31, 2020 due to the U.S. being a loss jurisdiction.

The following table details the amount of employee tax withheld by the Company upon the issuance of shares associated with restricted stock units vesting and the exercise of stock appreciation rights for the thirteen and thirty-nine weeks ended October 31, 2020 and November 2, 2019:
Thirteen Weeks EndedThirty-nine Weeks Ended
(in thousands)October 31, 2020November 2, 2019October 31, 2020November 2, 2019
Employee tax withheld upon issuance of shares (1)
$150 $181 $5,566 $6,619 
(1)    Classified within other financing activities on the Condensed Consolidated Statements of Cash Flows.
Restricted stock units

The following table summarizes activity for restricted stock units for the thirty-nine weeks ended October 31, 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, 20201,676,831 $18.68 747,056 $15.11 421,784 $23.05 
Granted2,280,194 8.57 — — 519,905 16.24 
Adjustments for performance achievement
— — 38,381 11.37 134,122 11.79 
Vested(790,429)17.42 (481,304)9.63 (350,447)11.79 
Forfeited(107,795)13.83 (6,917)22.80 (3,485)35.61 
Unvested at October 31, 2020 (2)
3,058,801 $11.63 297,216 $22.43 721,879 $21.46 
(1)    Includes 66,624 unvested restricted stock units as of October 31, 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.


The following table details unrecognized compensation cost and the remaining weighted-average period these costs are expected to be recognized for restricted stock units as of October 31, 2020:
(in thousands)Service-based Restricted
Stock Units
Performance-based Restricted
Stock Units
Market-based Restricted
Stock Units
Unrecognized compensation cost$27,879 $— $9,939 
Remaining weighted-average period cost is expected to be recognized (years)1.30.01.1

Additional information pertaining to restricted stock units for the thirty-nine weeks ended October 31, 2020 and November 2, 2019 follows:
(in thousands)October 31, 2020November 2, 2019
Service-based restricted stock units:
Total grant date fair value of awards granted$19,541 $16,175 
Total grant date fair value of awards vested$13,769 $13,087 
Performance-based restricted stock units:
Total grant date fair value of awards granted$— $5,379 
Total grant date fair value of awards vested$4,635 $— 
Market-based restricted stock units:
Total grant date fair value of awards granted$8,443 $4,176 
Total grant date fair value of awards vested$4,132 $511 
The weighted-average assumptions used for market-based restricted stock units in the Monte Carlo simulation during the thirty-nine weeks ended October 31, 2020 and November 2, 2019, respectively, were as follows:
October 31, 2020November 2, 2019
Grant date market price$12.31 $25.34 
Fair value$16.24 $36.24 
Assumptions:
Price volatility67 %57 %
Expected term (years)2.42.9
Risk-free interest rate0.2 %2.2 %
Dividend yield— %3.2 %
Average volatility of peer companies66.0 %40.0 %
Average correlation coefficient of peer companies0.49670.2407

Stock appreciation rights

The following table summarizes stock appreciation rights activity for the thirty-nine weeks ended October 31, 2020:
Number of
Underlying
Shares
Weighted-Average
Exercise Price
Aggregate
Intrinsic Value
Weighted-Average
Remaining
Contractual Life (years)
Outstanding at February 1, 2020796,725 $40.06 
Granted— — 
Exercised— — 
Forfeited or expired(382,225)47.87 
Outstanding at August 1, 2020414,500 $32.86 $— 3.2
Stock appreciation rights exercisable at October 31, 2020414,500 $32.86 $— 3.2
Stock appreciation rights expected to become exercisable in the future as of October 31, 2020— $— $— 0.0

No stock appreciation rights were exercised during the thirty-nine weeks ended October 31, 2020. Additional information pertaining to stock appreciation rights for the thirty-nine weeks ended November 2, 2019 follows:
(in thousands)November 2, 2019
Total grant date fair value of awards exercised$620