Stock Compensation Plans (Tables)

12 Months Ended

Feb. 03, 2024

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Common Stock Shares Issued to Non-Employee Directors as Compensation

The following shares of common stock, with the respective fair value, were issued from the Non-Employee Director Compensation Plan to its non-employee directors as compensation for fiscal 2023, fiscal 2022 and fiscal 2021:

	Number of shares of common stock issued		Fair value of common stock issued
Fiscal 2023		59,532	$	301,578
Fiscal 2022		73,024	$	359,208
Fiscal 2021		232,910	$	374,227

Employee Stock Plan, 2006 Plan and 2016 Plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock Option Activity

The following tables summarize the stock option activity under the Company’s 2006 Plan and 2016 Plan, on an aggregate basis, for fiscal 2023:

	Number of Shares			Weighted-average exercise price per option		Weighted-average remaining contractual term	Aggregate intrinsic value (000's)
Stock Options
Outstanding options at beginning of year		3,556,434		$	0.83		$	23,239
Options granted		1,317			5.91			—
Options canceled or expired		(47,749	)		4.32			55
Options exercised		(329,263	)		1.12			1,147
Outstanding options at end of year		3,180,739		$	0.75	6.4 yrs.	$	10,962
Options exercisable at end of year		1,941,707		$	0.80	6.2 yrs.	$	6,609
Vested and expected to vest at end of year		3,180,739		$	0.75	6.4 yrs.	$	10,962

Employee Stock Plan, 2006 Plan, 2016 Plan and Inducement Awards

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Restricted Stock Activity

The following table summarizes activity for non-vested shares under the Company’s 2006 Plan, 2016 Plan and Inducement Awards, on an aggregate basis, for fiscal 2023:

	RSUs (1)			Deferred shares (2)		Performance share  units (3)			Fully-vest shares (4)			Total number of shares			Weighted-average grant-date fair value
Shares
Outstanding non-vested shares at beginning of year		520,008			435,568		240,000			—			1,195,576		$	2.51
Shares granted		607,142			—		573,000			29,650			1,209,792			4.47
Shares forfeited		(53,180	)		—		—			—			(53,180	)		7.22
Shares expired		—			—		(240,000	)		—			(240,000	)		1.07
Shares vested/issued		(537,685	)		—		—			(29,650	)		(567,335	)		4.07
Outstanding non-vested shares at end of year		536,285			435,568		573,000			—			1,544,853		$	3.53
Vested and expected to vest at end of year		536,285			435,568		—			—			971,853		$	3.14

(1)During fiscal 2023, the Company granted RSUs for the achievement of performance metrics under the 2020-2022 LTIP that were subject to additional vesting through August 31, 2023 and time-based RSUs under its LTIPs. See Note H, Long-Term Incentive Plans. As a result of net share settlements, of the 537,685 RSUs that vested, only 385,073 shares of common stock were issued.

(2)Represents compensation to certain directors, in lieu of cash, in accordance with their irrevocable elections. The outstanding deferred shares will be issued upon the director’s separation from service.

(3)On August 11, 2023, the Company granted 573,000 performance share units ("PSUs") in connection with the extension of Mr. Kanter's employment agreement. The award consists of nine tranches, with the first tranche vesting if and when the 30-day volume-weighted closing price of the Company's common stock is equal to or greater than $6.50 per share. Each subsequent tranche will vest upon achievement of the 30-day volume-weighted closing price of the Company's common stock in $0.25 installments with the ninth tranche vesting when such price is equal to or greater than $8.50 per share. The PSUs are subject to a one-year minimum vesting period, and any unvested PSUs will expire on August 11, 2026. The respective fair value and derived service period assigned to each tranche of the PSUs were determined using a Monte Carlo model based on: a weighted historical volatility of 57.8%, a term of 3 years, stock price on the date of grant of $4.98 per share, a risk-free rate of 4.6% and a cost of equity of 11.0%. The $2.4 million fair value is being expensed over the respective derived service periods of each tranche which range from 12 to 13 months.

(4)Represents compensation, with a fair value of $141,742, to certain directors, who are required to receive shares, in lieu of cash, in order to satisfy their minimum equity ownership under the Non-Employee Director Plan. Voluntary shares received, in lieu of cash, are reported below under Non-Employee Director Compensation Plan.