Stock-Based Compensation

6 Months Ended

Jul. 30, 2022

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Stock-Based Compensation

Note 5 - Stock-Based Compensation

Stock-based compensation includes share-settled awards issued pursuant to our 2017 Equity Incentive Plan in the form of restricted stock units, performance stock units, and restricted and other stock awards. Additionally, we recognize stock-based compensation expense for the discount on shares sold to employees through our Employee Stock Purchase Plan and for cash-settled stock appreciation rights. For the thirteen and twenty-six weeks ended July 30, 2022 and July 31, 2021, stock-based compensation expense was comprised of the following:

	Thirteen			Thirteen			Twenty-six			Twenty-six
	Weeks Ended			Weeks Ended			Weeks Ended			Weeks Ended
(In thousands)	July 30, 2022			July 31, 2021			July 30, 2022			July 31, 2021
Share-settled equity awards	$	1,530		$	1,381		$	2,885		$	2,521
Stock appreciation rights		(38	)		74			(161	)		149
Employee stock purchase plan		9			5			17			16
Total stock-based compensation expense	$	1,501		$	1,460		$	2,741		$	2,686
Income tax effect at statutory rates	$	(385	)	$	(377	)	$	(678	)	$	(680	)
Additional income tax benefit on vesting of share-settled awards	$	(26	)	$	(5	)	$	(521	)	$	(885	)

As of July 30, 2022, approximately $10.5 million of unrecognized compensation expense remained related to our share-settled equity awards. The cost is expected to be recognized over a weighted average period of approximately 1.6 years.

Share-Settled Equity Awards

The following table summarizes transactions for our restricted stock units and performance stock units:

	Number of Shares			Weighted- Average Grant Date Fair Value
Outstanding at January 29, 2022		457,038		$	16.54
Granted		345,164			30.32
Vested		(176,425	)		18.28
Forfeited		(25,103	)		18.07
Outstanding at July 30, 2022		600,674		$	23.88

The total fair value at grant date of restricted stock units and performance stock units that vested during the twenty-six weeks ended July 30, 2022 and July 31, 2021 was $3.2 million and $3.1 million, respectively. The weighted-average grant date fair value of restricted stock units and performance stock units granted during the twenty-six weeks ended July 31, 2021 was $28.21.

The following table summarizes transactions for our restricted stock and other stock awards:

	Number of Shares		Weighted- Average Grant Date Fair Value
Outstanding at January 29, 2022		0	$	0.00
Granted		19,487		24.12
Vested		0		0.00
Forfeited		0		0.00
Outstanding at July 30, 2022		19,487	$	24.12

No restricted stock and other stock awards vested during the twenty-six weeks ended July 30, 2022. The total fair value at grant date of restricted stock and other stock awards that vested during the twenty-six weeks ended July 31, 2021 was $26,000. The weighted-average grant date fair value of restricted stock and other stock awards granted during the twenty-six weeks ended July 31, 2021 was $32.65.