Stock Compensation Plans (Tables)

12 Months Ended

Feb. 02, 2019

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 to its non-employee directors as compensation for fiscal 2018, fiscal 2017 and fiscal 2016:

	Number of shares of common stock issued		Fair value of common stock issued
Fiscal 2018		48,896	$	107,605
Fiscal 2017		42,450	$	96,856
Fiscal 2016		14,509	$	68,456

Employee Stock Plan, 2006 Plan and 2016 Plan

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

Stock Option Activity

	Number of Shares			Weighted-average exercise price per option		Weighted-average remaining contractual term	Aggregate intrinsic value
Stock Options
Outstanding options at beginning of year		1,195,910		$	4.80		$	21,750
Options granted		153,888		$	2.48			-
Options canceled or expired		(387,398	)	$	4.67			2,000
Options exercised		(5,000	)	$	1.85			7,900

Outstanding options at end of year		957,400		$	4.50	5.0 years	$	16,878
Options exercisable at end of year		803,512		$	4.89	4.2 years	$	8,050
Vested and expected to vest at end of year		935,539		$	4.54	4.9 years	$	16,441

Summary of Restricted Stock Activity

The following table summarizes activity for non-vested shares under the plans for fiscal 2018:

	Restricted shares			Restricted Stock Units ⁽¹⁾			Deferred shares ⁽²⁾			Fully-vested shares ⁽³⁾			Total number of shares			Weighted-average grant-date fair value ⁽⁴⁾
Shares
Outstanding non-vested shares at beginning of year		36,666			1,048,552			115,457			—			1,200,675		$	3.43
Shares granted		30,000			1,057,071			99,300			124,275			1,310,646		$	2.50
Shares vested/issued		(3,333	)		(627,220	)		(10,717	)		(124,275	)		(765,545	)	$	3.00
Shares canceled		(33,333	)		(105,775	)		—			—			(139,108	)	$	2.81
Outstanding non-vested shares at end of year		30,000			1,372,628			204,040			—			1,606,668		$	2.93
Vested and expected to vest at end of year		30,000			1,166,734			204,040			—			1,400,774

(1)

RSU were primarily granted in connection with the partial achievement of performance targets under the 2016-2017 LTIP and time-based awards under the 2018-2020 LTIP, see Note G, Long-Term Incentive Plans. As a result of net share settlements, of the 627,220 RSUs which vested during fiscal 2018, only 573,094 shares of common stock were issued.

(2)

The 99,300 shares of deferred stock, with a fair value of approximately $218,198, represent compensation to certain directors in lieu of cash, in accordance with their irrevocable elections. The shares of deferred stock vest three years from the date of grant or at separation of service, based on the irrevocable election of each director.

(3)

The 124,275 shares of stock, with a fair value of approximately $268,376 to certain directors as compensation in lieu of cash, in accordance with their irrevocable elections. Directors are required to elect 50% of their quarterly retainer in equity. Any shares in excess of the minimum required election are issued from the Fourth Amended and Restated Non-Employee Director Stock Purchase Plan (the “Non-Employee Director Compensation Plan”).

(4)	The fair value of a restricted share, deferred share and fully-vested share is equal to the Company’s closing stock price on the date of grant.