3. Stock-Based Compensation

The following table summarizes stock-based compensation expense by type of grant for each period presented (in thousands):



	Three Months Ended						Nine Months Ended
	November 1, 2014			November 2, 2013			November 1, 2014			November 2, 2013
Stock options and stock appreciation rights ("SARs")	$	184		$	470		$	521		$	1,266
Non-vested stock	1,294			1,207			3,690			3,179
Performance shares	1,104			878			2,807			2,135
Total compensation expense	2,582			2,555			7,018			6,580
Related tax benefit	(971		)	(985		)	(2,639		)	(2,474		)
	$	1,611		$	1,570		$	4,379		$	4,106

As of November 1, 2014, we have unrecognized compensation cost of $18.4 million related to stock-based compensation awards granted. That cost is expected to be recognized over a weighted average period of 2.4 years.

Stock Options and SARs

The following table summarizes stock option and SAR activity for the nine months ended November 1, 2014:



	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in thousands)
Outstanding at February 1, 2014	1,062,851		$	16.52
Exercised	(532,943	)	16.48
Forfeited	(56,008	)	17.82
Outstanding at November 1, 2014	473,900		$	16.41	2.3	$	624

Vested or expected to vest at November 1, 2014	458,247		$	16.34	2.3	$	624

Exercisable at November 1, 2014	395,637		$	15.98	2.1	$	620

The following table summarizes non-vested stock options and SARs activity for the nine months ended November 1, 2014:



Stock Options/SARs	Number of Shares		Weighted Average Grant Date Fair Value
Non-vested at February 1, 2014	292,075		$	7.97
Vested	(197,187	)	7.68
Forfeited	(16,625	)	8.60
Non-vested at November 1, 2014	78,263		$	8.56

The aggregate intrinsic value of stock options and SARs exercised during the nine months ended November 1, 2014 and November 2, 2013, was $3.5 million and $5.8 million, respectively.

Non-vested Stock

The following table summarizes non-vested stock activity for the nine months ended November 1, 2014:



Non-vested Stock	Number of Shares		Weighted Average Grant Date Fair Value
Outstanding at February 1, 2014	652,459		$	20.40
Granted	344,354		22.96
Vested	(254,220	)	19.89
Forfeited	(73,009	)	21.21
Outstanding at November 1, 2014	669,584		$	21.82

The aggregate intrinsic value of non-vested stock that vested during the nine months ended November 1, 2014 was $5.7 million. The payment of the employees' tax liability for a portion of the vested shares was satisfied by withholding shares with a fair value equal to the tax liability. As a result, the actual number of shares issued was 188,920.

Performance Shares

We grant performance shares as a means of rewarding management for our long-term performance based on shareholder return performance measures. The actual number of shares that may be issued ranges from 0 to a maximum of twice the number of granted shares outstanding, as reflected in the table below and is based on our shareholder return performance relative to a specific group of companies over a 3-year performance cycle. If earned, the performance shares vest following the 3-year cycle. Compensation expense, which is recorded ratably over the vesting period, is based on the fair value at grant date and the anticipated number of shares of our common stock, which is determined using a Monte Carlo probability model.

The following table summarizes performance shares that remained outstanding as of November 1, 2014:



Period Granted	Target Shares Outstanding at February 1, 2014	Target Shares Granted	Target Shares Vested		Target Shares Forfeited		Target Shares Outstanding at November 1, 2014	Weighted Average Grant Date Fair Value Per Share
2012	198,200	—	(8,300	)	(20,800	)	169,100	$	18.04
2013	151,250	—	(9,941	)	(23,059	)	118,250	33.81
2014	—	168,445	—		(2,292	)	166,153	33.84
Total	349,450	168,445	(18,241	)	(46,151	)	453,503

During the nine months ended November 1, 2014, 16,620 shares vested related to the 2011 performance share grant. The aggregate intrinsic value of shares that vested during the nine months ended November 1, 2014 was $0.8 million. The payment of the recipients' tax liability for shares that vested during the nine months ended November 1, 2014 of approximately $0.2 million was satisfied by withholding shares with a fair value equal to the tax liability. As a result, the actual number of shares issued was 24,508.