Share-Based Compensation (Tables)

12 Months Ended

Feb. 02, 2019

The following table summarizes our stock option activity for fiscal year 2018:



	Stock Options	Grant Date Weighted Average Exercise Price	Weighted Average Remaining Contractual Life (in Years)	Aggregate Intrinsic Value(1)
			(in years)	($ in thousands)
Outstanding at February 3, 2018	1,851,250	$9.50
Granted	311,625	$11.52
Exercised	(328,625)	$11.11
Forfeited	(57,500)	$9.03
Expired	(40,500)	$14.19
Outstanding at February 2, 2019	1,736,250	$9.47	6.9	$6,451
Vested and expected to vest at February 2, 2019	1,736,250	$9.47	6.9	$6,451
Exercisable at February 2, 2019	883,125	$10.10	5.5	$3,120


(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 year and the weighted average exercise price of in-the-money stock options outstanding at the end of each fiscal period. The market value per share was $12.71 at February 2, 2019.

The fair values of stock options granted in fiscal years 2018, 2017 and 2016 were estimated on the grant dates using the following assumptions:



	Fiscal Year Ended
	February 2, 2019	February 3, 2018	January 28, 2017
Weighted average grant-date fair value per option granted	$5.45	$3.99	$3.73
Expected option term (1)	5.0 years	5.0 years	5.0 years
Expected volatility factor (2)	51.6%	50.3%	62.8%
Risk-free interest rate (3)	2.6%	1.93%	1.34%
Expected annual dividend yield (4)	—%	—%	—%


(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 weighted average of 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.

A summary of the status of non-vested restricted stock as of February 2, 2019 and changes during fiscal year 2018 are presented below:



	Shares	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 February 2, 2019	60,901	$14.32

The following table summarizes share-based compensation recorded in the accompanying Consolidated Statements of Income (in thousands):



	Fiscal Year Ended
	February 2, 2019	February 3, 2018	January 28, 2017
Cost of goods sold	$517	$612	$855
Selling, general and administrative expenses	1,695	1,799	1,717
Total share-based compensation	$2,212	$2,411	$2,572