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Share-Based Compensation
 6 Months Ended
Jul. 30, 2022
Share-based Payment Arrangement [Abstract]  
SHARE-BASED COMPENSATION SHARE-BASED COMPENSATION
Financial statement impact

The following table details share-based compensation expense and the related income tax impacts for the thirteen and twenty-six weeks ended July 30, 2022 and July 31, 2021:
Thirteen Weeks EndedTwenty-Six Weeks Ended
(in thousands)July 30, 2022July 31, 2021July 30, 2022July 31, 2021
Share-based compensation expense$7,760 $6,487 $16,116 $14,937 
Income tax benefit associated with share-based compensation expense recognized1,015 1,388 $1,980 $1,686 

The following table details discrete income tax benefits and charges related to share-based compensation awards during the thirteen and twenty-six weeks ended July 30, 2022 and July 31, 2021:
Thirteen Weeks EndedTwenty-Six Weeks Ended
(in thousands)July 30, 2022July 31, 2021July 30, 2022July 31, 2021
Income tax discrete (charges) benefits realized for tax deductions related to the issuance of shares$(113)$826 $1,998 $4,016 
Income tax discrete (charges) benefits realized upon cancellation of stock appreciation rights(8)— (203)(3)
Total income tax discrete (charges) benefits related to share-based compensation awards$(121)$826 $1,795 $4,013 


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 twenty-six weeks ended July 30, 2022 and July 31, 2021:
Thirteen Weeks EndedTwenty-Six Weeks Ended
(in thousands)July 30, 2022July 31, 2021July 30, 2022July 31, 2021
Employee tax withheld upon issuance of shares (1)
$312 $312 $14,006 $12,060 
(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 twenty-six weeks ended July 30, 2022:
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 29, 20222,532,240 $17.16 340,149 $27.08 680,184 $22.81 
Granted913,689 29.74 165,263 32.07 82,635 45.15 
Adjustments for performance achievement
— — 5,668 23.05 18,881 36.24 
Vested(862,855)17.84 (194,465)23.05 (113,284)36.24 
Forfeited(38,522)18.79 — — — — 
Unvested at July 30, 2022 (1)
2,544,552 $21.43 316,615 $32.08 668,416 $23.67 
(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 July 30, 2022:
(in thousands)Service-based Restricted
Stock Units		Performance-based Restricted
Stock Units		Market-based Restricted
Stock Units
Unrecognized compensation cost$44,825 $— $17,907 
Remaining weighted-average period cost is expected to be recognized (years)1.30.01.0
Additional information pertaining to restricted stock units for the twenty-six weeks ended July 30, 2022 and July 31, 2021 follows:
(in thousands)July 30, 2022July 31, 2021
Service-based restricted stock units:
Total grant date fair value of awards granted$27,173 $21,358 
Total grant date fair value of awards vested15,393 12,427 
Performance-based restricted stock units:
Total grant date fair value of awards granted5,300 4,658 
Total grant date fair value of awards vested4,482 — 
Market-based restricted stock units:
Total grant date fair value of awards granted3,731 3,651 
Total grant date fair value of awards vested4,105 3,390 

The weighted-average assumptions used for market-based restricted stock units in the Monte Carlo simulation during the twenty-six weeks ended July 30, 2022 and July 31, 2021 were as follows:
July 30, 2022July 31, 2021
Grant date market price$32.07 $31.78 
Fair value45.15 49.81 
Price volatility66 %66 %
Expected term (years)2.92.9
Risk-free interest rate2.3 %0.3 %
Dividend yield— — 
Average volatility of peer companies72.9 72.0 
Average correlation coefficient of peer companies0.51460.4694

Stock appreciation rights

The following table summarizes stock appreciation rights activity for the twenty-six weeks ended July 30, 2022:
Number of
Underlying
Shares		Weighted-Average
Exercise Price		Aggregate
Intrinsic Value		Weighted-Average
Remaining
Contractual Life (years)
Outstanding at January 29, 2022236,139 $32.55 
Forfeited or expired(37,800)48.72 
Outstanding at July 30, 2022
198,339 $29.47 $— 2.4
Stock appreciation rights exercisable at July 30, 2022198,339 $29.47 $— 2.4
No stock appreciation rights were exercised during the twenty-six weeks ended July 30, 2022 or July 31, 2021.