Stock Based Compensation

6 Months Ended

Aug. 01, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Note 4. Stock Based Compensation

As of August 1, 2015, there was approximately $1.0 million of unrecognized compensation cost related to stock awards that is expected to be recognized as expense over a weighted average period of 2.0 years.

As of August 1, 2015, stock awards authorized for issuance under the Company’s current long term equity incentive plans, totaled 8.0 million. There are certain authorized stock awards for which the Company no longer grants awards. Of these awards authorized for issuance, 2.4 million were granted and are outstanding, 1.3 million of which were vested and exercisable. Awards available for future grants at August 1, 2015 were 2.1 million.

The table below outlines the assumptions that the Company used to estimate the fair value of stock based awards granted during the twenty-six weeks ended August 1, 2015:

	Minimum		Maximum
Dividend yield		0%
Expected stock price volatility	40.1%	-	50.2%
Risk-free interest rate	1.32%	-	1.94%
Expected award life (in years)	5.71	-	5.71
Weighted average fair value per share of awards granted during the period		$1.49

The following table summarizes stock award activity during the twenty-six weeks ended August 1, 2015:

	Employee and Director Stock Award Plans
	Number of Shares Subject To Option			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Other Share Awards(1)		Weighted Average Grant Fair Value
Balance January 31, 2015		2,465,110		$	6.80		3.8		237,400	$	3.75
Granted		345,000			3.72		9.9		23,774		3.63
Canceled		(668,735	)		14.00		—		—		—
Balance August 1, 2015		2,141,375		$	4.06		5.4		261,174	$	3.73
Exercisable August 1, 2015		1,258,375		$	4.32		3.0		51,774	$	4.68

(1) Other Share Awards include deferred shares granted to Directors and restricted share units granted to executive officers.

As of August 1, 2015, the intrinsic value of stock awards outstanding was approximately $623,000 and exercisable was $498,000.