Stock-Based Compensation (Tables)

12 Months Ended

Jan. 28, 2023

Schedule of Stock-based Compensation Expense

For fiscal years 2022, 2021 and 2020, stock-based compensation expense was comprised of the following:

(In thousands)	2022			2021			2020
Share-settled equity awards	$	5,542		$	5,234		$	3,426
Stock appreciation rights		(141	)		269			423
Employee stock purchase plan		33			28			34
Total stock-based compensation expense	$	5,434		$	5,531		$	3,883
Income tax benefit at statutory rates	$	1,368		$	1,399		$	1,002
Additional income tax (benefit)/expense on vesting of share-settled awards	$	(562	)	$	(992	)	$	81

Summary of Restricted Stock Awards Transactions

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		(19,487	)		24.12
Outstanding at January 28, 2023		0		$	0.00

Summary of SARs Activity

The following table summarizes SARs activity:

	Number of Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)
Outstanding at January 29, 2022		84,800		$	30.94
Granted		0			0.00
Forfeited		(8,800	)		30.94
Exercised		0			0.00
Outstanding at January 28, 2023		76,000		$	30.94		1.2

Schedule of SARs Assumptions

The fair value was estimated using a trinomial lattice model with the following assumptions:

	January 28, 2023			January 29, 2022
Risk free interest rate yield curve	3.62%-4.68%			0.04%-1.61%
Expected dividend yield	1.3%			0.8%
Expected volatility		65.42	%		63.31	%
Maximum life	1.2 Years			2.2 Years
Exercise multiple		1.03			1.03
Maximum payout	$	5.00		$	5.00
Employee exit rate	2.2% - 9.0%			2.2% - 9.0%

Share-settled Equity Awards

Summary of Restricted Stock Awards Transactions

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		(178,425	)		18.26
Forfeited		(63,454	)		27.26
Outstanding at January 28, 2023		560,323		$	23.27