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Share-Based Compensation
 3 Months Ended
May 01, 2021
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 weeks ended May 1, 2021 and May 2, 2020:
Thirteen Weeks Ended
(in thousands)May 1, 2021May 2, 2020
Share-based compensation expense$8,450 $5,162 
Income tax benefit associated with share-based compensation expense recognized (1)
$298 $— 
(1)    No income tax benefit was recognized during the thirteen weeks ended May 2, 2020 due to the establishment of a valuation allowance.

The following table details discrete income tax benefits and charges related to share-based compensation awards during the thirteen weeks ended May 1, 2021 and May 2, 2020:
Thirteen Weeks Ended
(in thousands)May 1, 2021May 2, 2020
Income tax discrete benefits realized for tax deductions related to the issuance of shares (1)
$3,190 $— 
Income tax discrete charges realized upon cancellation of stock appreciation rights (1)
(3)— 
Total income tax discrete benefits related to share-based compensation awards$3,187 $— 
(1)    No income tax benefit was recognized during the thirteen weeks ended May 2, 2020 due to the establishment of a valuation allowance.

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 weeks ended May 1, 2021 and May 2, 2020:
Thirteen Weeks Ended
(in thousands)May 1, 2021May 2, 2020
Employee tax withheld upon issuance of shares (1)
$11,748 $5,323 
(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 thirteen weeks ended May 1, 2021:
Service-based Restricted
Stock Units		Performance-based Restricted
Stock Units		Market-based Restricted
Stock Units
Number of 
Underlying
Shares		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 January 30, 20213,037,098 $11.62 297,216 $22.43 721,879 $21.46 
Granted613,809 31.68 146,580 31.78 73,294 49.81 
Adjustments for performance achievement
— — (106,715)21.31 (6,084)33.69 
Vested(855,914)12.43 — — (100,634)33.69 
Forfeited(32,474)11.98 (1,704)23.05 (10,657)18.91 
Unvested at May 1, 2021 (1)
2,762,519 $15.82 335,377 $26.87 677,798 $22.66 
(1)    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. Unvested shares related to restricted stock units with performance-based and market-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 over which these costs are expected to be recognized for restricted stock units as of May 1, 2021:
(in thousands)Service-based Restricted
Stock Units		Performance-based Restricted
Stock Units		Market-based Restricted
Stock Units
Unrecognized compensation cost$39,044 $5,791 $10,662 
Remaining weighted-average period cost is expected to be recognized (years)1.41.31.1
Additional information pertaining to restricted stock units for the thirteen weeks ended May 1, 2021 and May 2, 2020 follows:
(in thousands)May 1, 2021May 2, 2020
Service-based restricted stock units:
Total grant date fair value of awards granted$19,445 $12,005 
Total grant date fair value of awards vested$10,639 $11,519 
Performance-based restricted stock units:
Total grant date fair value of awards granted$4,658 $— 
Total grant date fair value of awards vested$— $4,586 
Market-based restricted stock units:
Total grant date fair value of awards granted$3,651 $— 
Total grant date fair value of awards vested$3,390 $4,132 

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 1, 2021 were as follows:
May 1, 2021
Grant date market price$31.78 
Fair value$49.81 
Assumptions:
Price volatility66 %
Expected term (years)2.9
Risk-free interest rate0.3 %
Dividend yield— %
Average volatility of peer companies72.0 %
Average correlation coefficient of peer companies0.4694
Stock appreciation rights

The following table summarizes stock appreciation rights activity for the thirteen weeks ended May 1, 2021:
Number of
Underlying
Shares		Weighted-Average
Exercise Price		Aggregate
Intrinsic Value		Weighted-Average
Remaining
Contractual Life (years)
Outstanding at January 30, 2021384,757 $33.04 
Granted— — 
Exercised(54,377)22.13 
Forfeited or expired(34,150)54.87 
Outstanding at May 1, 2021296,230 $32.53 $2,325,845 3.1
Stock appreciation rights exercisable at May 1, 2021296,230 $32.53 $2,325,845 3.1
Stock appreciation rights expected to become exercisable in the future as of May 1, 2021— $— $— 0.0

No stock appreciation rights were exercised during the thirteen weeks ended May 2, 2020. Information pertaining to stock appreciation rights exercised during the thirteen weeks ended May 1, 2021 follows:
(in thousands)May 1, 2021
Total grant date fair value of awards exercised$427