Stock Based Compensation

6 Months Ended

Jul. 30, 2022

Stock Based Compensation [Abstract]

Stock Based Compensation

Note 8. Stock Based Compensation

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. The Company no longer issues stock options under the Old Plans.

Equity awards authorized for issuance under the New Plan total 250,000. As of July 30, 2022, of the awards authorized for issuance under the Stock Award Plans, 69,259 options were granted and are outstanding, 30,059 of which were vested and exercisable. Shares available for future grants of options and other share-based awards under the New Plan as of July 30, 2022 were 142,596.

The following table summarizes stock award activity during the thirteen weeks ended July 30, 2022:

	Employee 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 29, 2022		85,965		$	13.41		7.5		90,000		$	15.39
Granted		18,750			6.16		9.9		9,000			4.59
Forfeited		(17,880	)		6.50		9.1		(56,500	)		13.79
Canceled		(17,306	)		15.56		-		-			-
Exercised		-			-		-		(9,000	)		4.59
Balance July 30, 2022		69,529		$	11.28		8.2		33,500		$	18.08
Exercisable July 30, 2022		30,059		$	18.70		7.1		-		$	-

 ⁽¹⁾ Other Share Awards include deferred shares granted to executives and directors.

As of July 30, 2022, the intrinsic value of stock awards outstanding and stock awards exercisable was $0.