Stock Based Compensation

9 Months Ended

Nov. 03, 2018

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

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

Note 9. Stock Based Compensation

As of November 3, 2018, there was approximately $1.5 million of unrecognized compensation cost related to stock option awards comprised of the following: $0.7 million was related to stock option awards listed in the table below and expected to be recognized as expense over a weighted average period of 1.6 years; $0.2 million was related to restricted stock option awards expected to be recognized as expense over a weighted average period of 3.9 years; and $0.6 million was related to restricted shares issued in connection with the acquisition of etailz, as discussed further below, and expected to be recognized as expense over the next three months.

The Company has outstanding awards under three employee stock award plans, the 2005 Long Term Incentive and Share Award Plan, the Amended and Restated 2005 Long Term Incentive and Share Award Plan (the “Old Plans”); and the 2005 Long Term Incentive and Share Award Plan (as amended and restated April 5, 2017 (the “New “Plan”). Collectively, these plans are referred to herein as the Stock Award Plans. Additionally, the Company had a stock award plan for non-employee directors (the “1990 Plan”). The Company no longer issues stock options under the Old Plans or the 1990 Plan.

Equity awards authorized for issuance under the New Plan total 5.0 million. As of November 3, 2018, of the awards authorized for issuance under the Stock Award Plans, 3.0 million were granted and are outstanding, 1.9 million of which were vested and exercisable. Shares available for future grants of options and other share based awards under the New Plan at November 3, 2018 were 4.4 million.

The following table summarizes stock award activity during the thirty-nine weeks ended November 3, 2018:

	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		Aggregate Intrinsic Value (2)
Balance February 3, 2018		2,585,914	$	3.06		7.2		183,427	$	3.22		-
Granted		555,000		0.99				219,484		1.14		-
Forfeited		(53,000)		3.44				-		-		-
Canceled		(72,000)		3.37				-		-		-
Exercised		-		-		-		(131,500)		2.19		-
Balance November 3, 2018		3,015,914	$	2.68		6.3		271,411	$	2.53	$	83,400
Exercisable November 3, 2018		1,900,289	$	3.07		4.8		128,911	$	2.85	$	19,200

(1)	Other Share Awards include deferred shares granted to Directors and restricted share units granted to executive officers.
(2)	As of February 3, 2018, all stock awards outstanding had a grant price higher than the market price of the stock and had no intrinsic value.

In connection with the acquisition of etailz, the Company issued 1,572,552 restricted shares of Company stock to a key etailz employee, with a grant date fair value of $3.56 per share. These shares vest ratably through January 2019. During the thirteen and thirty-nine weeks ended November 3, 2018, the Company recognized $0.6 million and $1.8 million of compensation cost related to these shares, respectively. As of November 3, 2018, there was approximately $0.6 million of unrecognized compensation cost related to these restricted shares that is expected to be recognized as expense over the next three months.