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Stock-Based Compensation (Tables)
 9 Months Ended
Nov. 03, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Option Activity Under Stock Option Plan
The following table summarizes the stock option activity for the nine months ended November 3, 2018 (aggregate intrinsic value in thousands):
 
Stock
Options
 
Grant Date
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Contractual
Life (in Years)
 
Aggregate
Intrinsic
Value (1)
Outstanding at February 3, 2018
1,851,250

 
$
9.50

 
 
 
 
Granted
311,625

 
$
11.52

 
 
 
 
Exercised
(322,500
)
 
$
11.19

 
 
 
 
Forfeited
(57,500
)
 
$
9.03

 
 
 
 
Expired
(15,500
)
 
$
15.42

 
 
 
 
Outstanding at November 3, 2018
1,767,375

 
$
9.52

 
7.0
 
$
12,683

Vested and expected to vest at November 3, 2018
1,767,375

 
$
9.52

 
7.0
 
$
12,683

Exercisable at November 3, 2018
786,750

 
$
10.81

 
5.3
 
$
4,624

(1)
Intrinsic value for stock options is defined as the difference between the market price of our Class A common stock on the last business day of the fiscal period and the weighted average exercise price of in-the-money stock options outstanding at the end of the fiscal period. The market value per share was $16.68 at November 3, 2018.
Assumptions Used to Estimate Fair Value of Stock Options Granted
The fair values of stock options granted during the three and nine months ended November 3, 2018 and nine months ended October 28, 2017 were estimated on the grant date using the following assumptions. There were no stock options granted during the three months ended October 28, 2017.
 
Three Months Ended
 
Nine Months Ended
 
November 3,
2018
 
October 28,
2017
 
November 3,
2018
 
October 28,
2017
Weighted average grant-date fair value per option granted
$9.49
 
*
 
$5.45
 
$4.02
Expected option term (1)
5.0 years
 
*
 
5.0 years
 
5.0 years
Weighted average expected volatility factor (2)
53.2%
 
*
 
51.6%
 
51.4%
Weighted average risk-free interest rate (3)
2.8%
 
*
 
2.6%
 
1.9%
Expected annual dividend yield
—%
 
*
 
—%
 
—%
* - Not applicable

(1)
We have limited historical information regarding expected option term. Accordingly, we determine the expected option term of the awards using the latest historical data available from comparable public companies and management’s expectation of exercise behavior.
(2)
Stock volatility for each grant is measured using the historical daily price changes of our common stock over the most recent period equal to the expected option term of the awards.
(3)
The risk-free interest rate is determined using the rate on treasury securities with the same term as the expected life of the stock option as of the grant date.
Summary of Status of Non-Vested Restricted Stock
A summary of the status of non-vested restricted stock changes during the nine months ended November 3, 2018 are presented below:
 
Restricted
Stock
 
Weighted
Average
Grant-Date
Fair Value
Nonvested at February 3, 2018
109,532

 
$
12.24

Granted
21,476

 
$
14.90

Vested
(67,732
)
 
$
11.08

Forfeited
(2,375
)
 
$
16.07

Nonvested at November 3, 2018
60,901

 
$
14.32
Schedule of Stock Based Compensation
The following table summarizes share-based compensation recorded in the Consolidated Statements of Operations (in thousands):
 
Three Months Ended
 
Nine Months Ended
 
November 3,
2018
 
October 28,
2017
 
November 3,
2018
 
October 28,
2017
Cost of goods sold
$
124

 
$
146

 
$
391

 
$
447

Selling, general and administrative expenses
411

 
432

 
1,271

 
1,326

Share-based compensation
$
535

 
$
578

 
$
1,662

 
$
1,773